Crypto Platform Ramp Raises $10 Million from US investors NFX and Galaxy Digital

UK-based crypto platform Ramp has raised $10.1 million in funding from California-based venture firm NFX and financial services firm Galaxy Digital along with some Fintech and crypto entrepreneurs such as Coinbase’s CTO Balaji S Srinivasan. Mozilla, Seedcamp, firstminute capital, and Fabric Ventures also participated in the round.
Ramp will use the funds to work on deeper integration with scalability solutions and add capacity to onboard large projects looking to harness crypto power for hundreds of millions of their users.
Besides, it plans to introduce more convenient ways of transactions worldwide including ACH in the USA, UPI in India, Pix in Brazil, and more open banking connectivity across continental Europe.

In a blog post, Ramp’s founder Szymon Sypniewicz also announced they will make the platform’s services available for even more use cases, including advanced Layer 2 capabilities and newly launched one-click NFT purchases.

He further added that the first wave of crypto was all about the adoption and speculation of asset prices. However, crypto’s technology is supposed to democratise financial markets and change entire industries.

“With our latest funding and with the rise of NFTs and DeFi apps, we feel that the blockchain space is now finally moving from the speculation phase into the usage phase, where crypto can unleash its full potential and show its actual value. We are shifting from buying crypto to using crypto,” Szymon added.

Ramp is working towards ensuring that every digital product is crypto-enabled and utilises NFTs, governance tokens, crypto payments, and loyalty programs by making use of crypto apps easier than e-commerce.

The platform has been working towards the creation of a single user account that works with 200+ crypto-enabled products, without the need for endlessly repeated verifications, suffering payment issues, and an account where they can use their fiat money too. Users can now: 

    • – top up their non-custodial wallets with dozens of crypto assets
    • – use DeFi apps in just a couple of taps
    • – easily and securely purchase NFTs
    • – and do much more across our partners’ apps. 

Ramp currently provides a convenient SDK that grants a user global coverage sans the regulatory burden. It plans to combine multiple payment channels to provide improve UX, reduce usage costs, and create easy access to the payment method, from credit cards to Apple Pay to open banking transactions. 

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