Ramp Network Registered As A VASP With The Central Bank Of Ireland

FinanceFeeds Editorial Team

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).

Ramp network VASP in Ireland

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.

 

Read this next

blockdag

BlockDAG Transforms Crypto Mining with X1 Beta App Launch, Raises $49.2M in Presale; SEI & BONK Developments

Uncover BlockDAG’s X1 app beta launch, reshaping mobile mining and propelling its presale to $49.2M, eclipsing BONK and SEI.

Digital Assets

Joe Biden’s campaign explores crypto donations via Coinbase

U.S. President Joe Biden’s campaign is in discussions with cryptocurrency industry players about accepting crypto donations through Coinbase Commerce, sources familiar with the matter told The Block.

Chainwire

VGX Foundation and Honeyland Partner to Offer VGX Rewards for Players

The VGX Foundation has announced a partnership with popular web3 game Honeyland, offering rewards utilizing the VGX token for their players.

Digital Assets

Terraform and Do Kwon fined $4.5 billion to settle with SEC

Terraform Labs and its co-founder Do Kwon have reached a final settlement with the U.S. Securities and Exchange Commission (SEC) regarding a fraud case, according to a court filing on Wednesday.

Retail FX

Dukascopy broadens CFD offering with Italian stocks

Switzerland’s forex bank and broker, Dukascopy has just expanded its offering to include Italian stocks and the Italy 40 Index. The new additions allow clients to access a broader range of investment opportunities in the Italian market.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Monetary Policy, US Inflation,Eurozone June 12 ,2024

The Fed meets today to decide on interest rates. A dovish shift (keeping rates steady or hinting at cuts) is expected, weakening the US dollar and potentially boosting gold prices.

blockdag

BlockDAG Leads CoinSniper Ranking as Presale Surges to $49.2M While Cardano Shows Resilience & ApeCoin Surges

Explore BlockDAG’s #1 ranking on CoinSniper listing as presale booms to $49.2M. More on ADA’s resilience & ApeCoin’s surge.

Market News, Tech and Fundamental, Technical Analysis

Gold Technical Analysis Report 12 June, 2024

Gold can be expected to rise further toward the next resistance level 2385.00, which stopped the previous minor correction B at the start of June.

<