Ramp Expands into Latin America with Local Entity in Brazil
Ramp Network, a startup offering payment infrastructure for crypto and traditional finance, has opened a local entity in Brazil to expand into Latin America. Here are the key points:
- Ramp will offer its software development kit (SDK) to clients in Brazil, allowing their users to buy crypto through an end-to-end, non-custodial on-ramp.
- The company will also provide a crypto to fiat off-ramp for users.
- Brazil ranked seventh in crypto adoption globally, and Latin America accounted for 9.1% of all crypto value received last year.
- Regulatory clarity in Brazil, including the creation of a “virtual service provider” license, was a driving factor for Ramp’s expansion.
- Ramp will seek to connect with local payment networks, such as the widely used Pix, to facilitate crypto transactions in Brazil.
