Ramp, a fintech company specializing in crypto infrastructure, has announced a significant expansion of its platform's support for 40 new fiat currencies.
According to a June 21 announcement, the expansion is set to allow users to more easily transact various digital and traditional currencies across borders while benefiting from favorable conversion rates.
With its latest expansion, Ramp hopes to empower people in 150 countries to convert between cryptocurrencies and 43 fiat currencies. Expanded currency support includes a diverse mix of developed and emerging markets, including the Bermudan dollar, Costa Rican colรณn, Hungarian forint, Mexican peso, Singapore dollar and Swiss franc.
In the cryptocurrency industry, onramps facilitate the acquisition of digital assets by allowing people to buy or receive cryptocurrency with fiat money. On the other hand, offramps allow users to convert their cryptocurrencies back into fiat currencies.
On-ramps and off-ramps are essential for cryptocurrency adoption and usability, as they bridge the gap between the crypto ecosystem and the traditional financial system. They provide a convenient means for people to enter or exit the crypto market, improving accessibility, liquidity, and integration between crypto and fiat currencies.
Related: Robinhood Launches Fiat-to-Crypto Onramp for Self-Custodial Wallets and DApps
In a recent conversation with Cointelegraph, Jameson Lopp, a Bitcoin (BTC) self-custody advocate and software developer, shed light on the importance of access ramps in driving cryptocurrency adoption. Lopp stressed the importance of increasing the number of avenues within the industry to facilitate the acquisition of Bitcoin and stimulate economic activity with the digital currency.
As an example, he noted Oura decentralized social networking platform that has integrated Bitcoin's layer 2 Lightning Network protocol, effectively encouraging the use of Bitcoin.
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