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Ramp Network Granted VASP License by Ireland’s Central Bank

Ramp Network Granted VASP License by Ireland's Central Bank

NEWS

Ramp Network, a fintech firm based in the UK focused on building payment channels linking crypto to the global financial system, declared on May 23 that it has secured registration approval from the Central Bank of Ireland to operate as a Virtual Asset Service Provider (VASP).

With this recent registration, Ramp Network is poised to offer fiat-to-crypto currency exchange services in the region through its Irish subsidiary. Additionally, the company has opted to establish a team and operational base in Dublin and plans to augment its investment in Ireland, positioning the country as its European headquarters by pursuing authorization as a Crypto Asset Service Provider (CASP) under the forthcoming Markets in Crypto Assets Regulation (MiCAR), slated to take effect by year-end.

Steven Eisenhauer, Chief Risk and Compliance Officer at Ramp Network, remarked, “When deciding on a future European home for Ramp Network, it didn’t take us long to conclude that Ireland was an ideal location. Beyond the country’s status as an innovation hub with a broad base of available technology and financial services talent, we were drawn by the Central Bank of Ireland’s collaborative and direct approach. The regulator has a reputation as a serious and competent authority which fully aligns with our vision of promoting crypto adoption through compliant and safe services.”

Ramp Network continues to execute its global expansion strategy. In July of last year, the company unveiled the establishment of an entity in Brazil, signaling the commencement of its expansion into the Latin American market.

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