Ramp expands on-ramp service to support 40 fiat currencies and offers crypto payment solution.
Ramp, a financial technology company that specializes in crypto infrastructure, has announced a significant expansion of its platform’s compatibility, adding 40 new fiat currencies.
The expansion, announced on June 21, is designed to make it easier for users to transact with various digital and traditional currencies across borders while taking advantage of favorable conversion rates.
With this latest expansion, Ramp aims to enable individuals in 150 countries to convert between cryptocurrencies and 43 fiat currencies. The expanded currency support includes a combination of developed and emerging markets, such as the Bermudian dollar, Costa Rican colón, Hungarian forint, Mexican peso, Singapore dollar, and Swiss franc.
In the cryptocurrency industry, on-ramps enable individuals to purchase or receive cryptocurrencies using fiat money, while off-ramps enable users to convert their cryptocurrencies back into fiat currencies.
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On- and off-ramps are essential for the adoption and usability of cryptocurrencies as they connect the gap between the crypto ecosystem and the traditional financial system. They provide a convenient way for individuals to enter or exit the crypto market, enhancing accessibility, liquidity, and integration between crypto and fiat currencies.
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Jameson Lopp, a Bitcoin self-custody advocate and software developer, recently spoke to Cointelegraph about the significance of on-ramps in driving cryptocurrency adoption. Lopp emphasized the importance of increasing the number of on-ramps within the industry to facilitate the acquisition of Bitcoin and stimulate economic activity with the digital currency. He pointed to Nostr, a decentralized social media platform that has integrated the Bitcoin layer-2 Lightning Network protocol, as an example of how on-ramps can encourage the use of Bitcoin.
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