Ramp Network Registered As A VASP With The Central Bank Of Ireland
Ramp Network, the financial technology company building payment rails connecting crypto to the global financial system, has been approved by the Central Bank of Ireland for registration as a Virtual Asset Service Provider (VASP).
As a registered VASP, the Irish subsidiary of Ramp Network will provide services enabling users to exchange fiat currencies for more than 100 cryptocurrency assets, and vice versa. This registration underscores Ramp Network’s commitment to onboarding users to Web3 via its straightforward crypto on- and off-ramp services.
Ramp Network’s decision to establish a team and operations in Dublin recognises Ireland’s status as a fintech innovation hub and a favorable market for companies pioneering next-generation financial services. Ramp Network intends to further extend its commitment and investment in Ireland, making the country its European headquarters by seeking authorisation as a Crypto Asset Service Provider (CASP) under the Markets in Crypto Assets Regulation (MiCAR).
MiCAR, the CASP elements of which come into force at the end of this year, is the first multi-jurisdiction framework designed to regulate crypto-asset markets and will replace domestic crypto-asset regulations throughout the European Economic Area (EEA).
“When deciding on a future European home for Ramp Network, it didn’t take us long to conclude that Ireland was an ideal location. Beyond the country’s status as an innovation hub with a broad base of available technology and financial services talent, we were drawn by the Central Bank of Ireland’s collaborative and direct approach. The regulator has a reputation as a serious and competent authority which fully aligns with our vision of promoting crypto adoption through compliant and safe services” said Steven Eisenhauer, Chief Risk and Compliance Officer.
Registration in Ireland is yet another example of Ramp Network’s plans for global expansion. Recently, Ramp Network identified Brazil as one of the key growth markets and also established a local entity there last year. This was followed by adding support for Pix, the country’s number one payments gateway, the Brazilian real (BRL), and the Portuguese language. Brazil also became the first market to benefit from Ramp Network’s novel document-free KYC process, bringing unprecedented convenience to new users who are just setting out on their Web3 journeys. Ramp Network also has registered subsidiaries in the United Kingdom and the United States.
About Ramp
Ramp Network is a financial technology company building solutions that connect the crypto economy with today’s global financial infrastructure. Through its core on- and off-ramp products, Ramp Network provides businesses and individuals across 150+ countries with a streamlined and smooth experience when converting between cryptocurrencies and fiat currencies. Ramp Network is fully integrated with the world’s major payment methods, including debit and credit cards, bank transfers, Apple Pay, Google Pay, and more.
