UK-based crypto payments company Ramp has created a local entity in Brazil to provide Latin American consumers with easy access to crypto. One of Ramp’s primary goals is to make Web3 accessible for everyone, everywhere, through an automated and frictionless onboarding experience.

The company’s expansion into Brazil harmonises with this strategy by opening up new opportunities for local Web3 projects and global businesses looking to join the Brazilian market. Users can leverage the capabilities of Ramp’s on-ramp and off-ramp products to buy and sell cryptocurrencies using traditional national currencies in a secure and fast manner. As for developers, they can embed Ramp’s solutions into their products and allow customers to buy and sell crypto assets natively within their applications.

Representatives from Ramp cited by Yahoo talked about the company’s goals and recent developments. They mentioned Ramp’s commitment to providing value to their Brazil-based users and users in other significant Latin American countries through card payments. They also brought up the introduction of transaction support for over 40 national currencies, including the BRL and other regional currencies.

According to the 2023 Blockchain Report released by Sherlock Communications, Brazil has become the seventh-ranked country in the world as far as crypto adoption is concerned, with more than 16 million people using crypto. The government has made some efforts to support crypto adoption as well by passing legislation that seeks to regulate the industry in 2023 and encourage further innovation and growth. Brazil’s increasing levels of crypto adoption make it an appealing location for Ramp’s expansion aspirations, allowing it to better serve customers in the region.

More information about Ramp Ramp is a financial technology company that specialises in solutions that connect the crypto economy with today’s global financial infrastructure. Through its core on- and off-ramp products, the company provides businesses and individuals across more than 150 countries with a streamlined experience when converting between cryptocurrencies and fiat currencies. Ramp is fully integrated with the world’s most popular payment methods, including bank transfers, debit and credit cards, as well as Apple Pay and Google Pay.

In November 2022,  Ramp has secured USD 70 million in a Series B funding round led by Mubadala Capital and Korelya Capital. Apart from being co-led by Mubadala Capital and Korelya Capital, the funding round also saw the participation of Balderton Capital and Cogito Capital. This new infusion of capital brought Ramp’s total raised in the 12 months leading to the Series B round to USD 122.7 million, an achievement earned despite the current state of the crypto market.

The closing of the round was revealed on stage during Token2049 London. .