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.
According to the June 21 announcement, the expansion is set to allow users to more easily transact with various digital and traditional currencies across borders while benefiting from favorable conversion rates.
With its latest expansion, Ramp hopes to enable individuals in 150 countries to convert between cryptocurrencies and 43 fiat currencies. Expanded currency support includes a mix of developed and emerging markets, including the Bermudian dollar, Costa Rican colon, Hungarian forint, Mexican peso, Singapore dollar, and Swiss franc.
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In the cryptocurrency industry, ramps facilitate the acquisition of digital assets by allowing individuals to buy or receive cryptocurrencies using fiat money. On the other hand, Offshore Ramps allows users to convert their cryptocurrency back into fiat.
The inward and outward ramps are essential to the adoption and usability of cryptocurrencies, as they bridge the gap between the cryptocurrency ecosystem and the traditional financial system. They provide a convenient way for individuals to enter or exit the crypto market, promoting accessibility, liquidity, and integration between cryptocurrencies and fiat currencies.
Related: Robinhood Launches Cryptocurrency Transfer On Ramp For Self-Booking Wallets And DApps
In a recent conversation with Cointelegraph, Jameson Lopp, a Bitcoin (BTC) advocate and software developer, highlighted the importance of going uphill in driving cryptocurrency adoption. Loeb stressed the importance of increasing the number of ramps within the industry to facilitate the acquisition of Bitcoin and stimulate economic activity with the digital currency.
For example, he points to Nostr, a decentralized social media platform that has integrated the Bitcoin layer 2 Lightning Network protocol, effectively promoting the use of Bitcoin.
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