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.
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