Ramp, a fintech company specializing in crypto infrastructure, has announced a major expansion of its platform support, toadding 40 new fiat currencies.
As announced on June 21, The expansion will allow users to more easily transact cross-border with various digital and traditional currencies, while benefiting from favorable conversion rates.
With its latest expansion, Ramp hopes to make it easier for users in 150 countries to convert between cryptocurrencies and 43 fiat currencies. Expanded currency support includes a mix of developed and emerging markets such as the Bermudan dollar, Costa Rican colón, Hungarian forint, Mexican peso, Singapore dollar and Swiss franc.
In the cryptocurrency sector, “on-ramps” or access roads facilitate the acquisition of digital assets by allowing people to buy or receive cryptocurrencies using fiat money. On the other hand, “off-ramps” allow users to convert their cryptocurrencies back into fiat currencies.
On-ramps and off-ramps are essential for cryptocurrency adoption and utilization, as they bridge the gap between the cryptocurrency ecosystem and the traditional financial system. They provide people with a convenient means of entering or exiting the cryptocurrency market, improving accessibility, liquidity, and integration between cryptocurrencies and fiat currencies.
In a recent conversation with Cointelegraph, Jameson Lopp, a proponent of Bitcoin self-custody (BTC) and software developer, shed light on the importance of on-ramps in driving cryptocurrency adoption. Lopp stressed 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.
As an example, he pointed to Nostr, a decentralized social media platform that has integrated Bitcoin’s Lightning Network layer 2 protocol, effectively promoting the use of Bitcoin.
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