Tech

Ramp launches real-time payments on 17 blockchains


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Slopesa fintech company that builds a connected payment system electronic money for the global financial system, launched an “off-ramp” product in the United States.

Off-ramps allow users to sell a choice of 34 digital assets across 17 blockchains. It does so in real time, effectively enabling real-time payments (RTPs) so that consumers can get their money in just 20 seconds, instead of hours or even days.

Ramp’s off-ramp product is ready to be integrated by businesses looking to provide their users with a fast, secure and convenient way to exchange crypto for US dollars, right in the their products.

Reducing the friction associated with moving between traditional currencies and digital assets is the biggest barrier to the widespread adoption of cryptocurrencies. On-ramps and off-ramps play an important role in solving this problem by creating a reliable flow between fiat and crypto.

While Ramp’s on-ramp product allows users to convert their fiat currency (such as US dollars) into cryptocurrency, off-ramp empowers users to transfer their digital assets back to fiat money.

Ramp’s off-ramps offer highly competitive fees of just 0.99% per transaction. Initially, end users will have the option to process their transactions through automated clearing house (ACH) transfers, a popular method used to directly deposit payroll checks, debits for payments. periodic payments and money transfers.

Users whose banks allow RTP will benefit from this faster method, which will see dollars deposited into their account typically in less than 20 seconds. In the near future, Ramp will look to expand its off-ramps into the UK and Europe and introduce new payment methods through 2023.

“Crypto and Web3 ecosystems are getting closer and closer to mainstream adoption. But major failures like the recent FTX explosion show the need for resilient products that adhere to fair and prompt services,” said sPaulina Jóśków, head of commerce at Ramp. in a statement. “We often hear how difficult it is for consumers to buy crypto from fiat currency. But the factor often cited as the most frustrating when considering buying digital assets is that crypto users won’t know how to resell them for fiat. That’s why off-ramps are such an important product for businesses that want to reach mainstream adoption, and our product will lead the way when it comes to coverage, conversion rates and price.”

The company says integrating Ramp into a Web3 application is easy and free. Ramp off-road products are currently available in all US states except Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Louisiana, Maryland, Nevada, New Jersey, New Mexico, New York, Ohio, Oregon, Vermont and Washington D.C..

Off-ramps include the following digital currencies: ADA (on Cardano), ATOM (on Cosmos), AVAX (on Avalanche), BAT (on Ethereum), BNB (on Binance Smart Chain), BTC (on Bitcoin) , BUSD (on Binance Smart Chain), CELO (on Celo), CUSD (on Celo), DAI (on Ethereum, Optimisim and Polygon), DOGE (on Doge), DOT (on Polkadot), ENS (on Ethereum), ETH (on Arbitrum), Ethereum, Optimism and Polygon), FTM (on Fantom), KSM (on Kusama), LINK (on Ethereum), LTC (on Litecoin), MANA (on Ethereum), MATIC (on Polygon) , NEAR (on Near), RLY (on Ethereum), RON (on Ronin), SLP (on Ronin), SAND (on Ethereum), USDC (on Ethereum, Avalanche and Polygon), USDT (on Ethereum).

Ramp operates in over 150 countries and is fully integrated with major payment methods around the world, including debit and credit cards, bank transfers, Apple Pay, Google Pay, etc. Ramp Swaps LLC is registered as a money services business with the U.S. Department of Treasury’s Financial Crimes Enforcement Network.

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