Cryptocurrency News

Ramp Secures Crypto Payments Registration With FCA.

United Kingdom cryptocurrency payments infrastructure startup Ramp has become the 8th crypto firm to secure registration with the country’s financial services watchdog, the FCA [Financial Conduct Authority].

Ramp is among the first on-ramp service to be certified, the corporate outlined earlier on Thursday.

Branding itself the “PayPal for crypto,” Ramp offers a software development kit to companies wishing to offer crypto-enabled services, removing the necessity to integrate with third-party exchanges.

Ramp recently became the exclusive on-ramping partner of blockchain-based fantasy soccer platform Sorare and therefore the NFT marketplace-focused blockchain Flow.

The firm raised $10 Mln earlier in June within a seed funding round led by NFX and Galaxy Digital.

The FCA became the U.K.’s AML [Anti-Money Laundering] and counter-terrorist financing supervisor of cryptocurrency asset firms earlier in January. Businesses under its supervision got to demonstrate they suit those regulations to be permitted to operate.

It was reported earlier in June that 64 crypto firms had abandoned their plans for FCA registration amid mounting regulatory scrutiny. The deadline for registration is 31st March next year.

Leave a Comment

Your email address will not be published. Required fields are marked *