Crypto Startup Ramp Network Starts Brazilian Unit as First Step in LatAm Expansion

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Crypto Startup Ramp Network Starts Brazilian Unit as First Step in LatAm Expansion
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.RampNetwork opened a local entity in Brazil to allow its clients to offer buying and selling of crypto with Brazilian reals, in a first step of its expansion in Latin America. andresengler reports

Ramp Network, a startup offering payment infrastructure to connect crypto and traditional finance, opened a local entity in Brazil in a bid to expand into Latin America.

“This year, we are fully dedicated to establishing a strong presence in Latin America, and the reason for that is that this is a very interesting market for us,” Łukasz Anwajler, chief technology officer at Ramp, told CoinDesk, citing latest survey published by blockchain data analytics platform Chainalysis.

Recent crypto regulatory clarity in Brazil was one of the reasons for Ramp to open an entity in the South American country, Anwajler stated. In December,, which is to be requested by digital asset companies, including exchanges and trading intermediaries. One month ago, the company added the Brazilian real and other Latin American currencies to its portfolio, the company said in a statement, detailing that it also allowed the possibility for users in Brazil to purchase crypto through card payments.funding round that was co-led by Mubadala Capital — an arm of one of United Arab Emirates’ sovereign wealth funds — and Korelya Capital.

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