Ramp will simplify cryptocurrency-fiat currency exchanges in Brazil

Ramp will simplify cryptocurrency-fiat currency exchanges in Brazil

Ramp is a company that focuses on developing cutting-edge solutions that facilitate seamless connections between the crypto economy and the existing global financial infrastructure. Their core products are developed with the goal of catering to customers of all ages and backgrounds in more than 150 different countries. Users are able to convert between cryptocurrencies and fiat currencies in a seamless manner thanks to Ramp’s on-ramp and off-ramp solutions. This helps to make the entire process more time-effective and user-friendly.

The comprehensive integration of Ramp with the world’s most popular payment methods is what sets it apart from other platforms. This includes debit and credit cards, bank transfers, Apple Pay, Google Pay, and a number of other payment systems, giving users a wide range of options to access and utilize cryptocurrencies in their day-to-day financial transactions.

Users all over the world will have an easier time adopting cryptocurrencies with the help of Ramp’s services, which aim to provide a streamlined and problem-free experience despite the dynamic nature of the current financial landscape.

As part of its mission to close the gap that exists between the world of cryptocurrencies and the traditional financial system, the financial technology company Ramp has taken a significant step forward. 

They just recently made the announcement that they are going to establish a local entity in Brazil with the primary objective of providing customers in Latin America with a method that is quick, secure, and convenient for buying and selling cryptocurrencies.

Ramp’s expansion into Brazil is a key step on the way towards fulfilling its ambition of making Web3 accessible to everyone, everywhere, through an automated and frictionless onboarding experience. 

The company’s move also opens up new opportunities for local web3 projects and global businesses looking to tap into the Brazilian market.

With Ramp’s on-ramp and off-ramp products, users can buy and sell cryptocurrencies using traditional national currencies, securely and quickly. Developers can integrate Ramp’s solutions into their products, enabling users to buy and sell cryptoassets natively within their applications.

Ramp, which raised $70 million in funding last year, is serious about global crypto adoption, and Latin America has emerged as a key target market and one of the world’s fastest-growing regions in terms of crypto adoption. 

According to Chainalysis’ latest Global Adoption Index, Latin America accounted for 9.1% of all crypto value received globally in 2022, reaching $562 billion between July 2021 and June 2022 – a 40% growth in this period. 

Moreover, the report ranked four Latin American nations – including Brazil, in 7th place – among the world’s top crypto adopters, driven by factors such as storing value, remittances, and investing through decentralized finance.

“From the onset, our focus has been on providing value to our users in Brazil and other significant Latin American countries through card payments. A little over a month ago, we strengthened this by introducing transaction support for over 40 national currencies, including the Brazilian Real and other regional currencies.” stated Szymon Sypniewicz, CEO of Ramp.

“As we enhance our services, we’re thrilled to offer our partners such as TrustWallet, Exodus, Sorare, BitPay, Argent, Brave an improved access to this dynamic market. We’re not just striving to be globally available but to resonate with the local needs, and this development underscores our commitment to be an integral part of the crypto adoption journey for our users across Latin America,” added Sypniewicz.

The 2023 Blockchain Report by Sherlock Communications states that Brazil has emerged as the seventh-ranked country in the world in terms of crypto adoption, with more than 16 million people using crypto. Brazil’s government has also embraced crypto, passing legislation that seeks to regulate the industry in 2023 and encourage further adoption, innovation, and growth. 

Brazil’s soaring level of crypto adoption makes it an ideal base for Ramp’s expanding Latin America operations, enabling it to better serve customers in the region.



About Ylleza Jashari

Senior student pursuing a degree in Security Studies at Rochester Institute of Technology. In my role as a Content Writer at Walletor, my primary objective is to develop informative content that effectively educates all Walletor users on the most up-to-date insights pertaining to financial transactions, digital wallets, and the broader cryptocurrency industry.

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