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The integration makes Ramp’s fiat on-ramp plugin fully available to Fuse users wishing to deposit funds with debit cards, SEPA transfers, and Apple Pay. During a limited time frame, all the deposits will be free of charge.
Blockchain technology and cryptocurrencies have seen significant progress since their inception in 2009. Initially known only within a small circle of cypher-enthusiasts, they are quickly becoming one of the most popular areas of investment and financial innovation. Nonetheless the thing that will determine crypto’s ultimate success is whether it is used widely in day-to-day transactions.
With Fuse being particularly aimed at everyday users, many of whom are yet to be onboarded to the crypto space, fiat-to-crypto gateway functionality is a prerequisite for the project’s success. This explains our partnership with leading provider Ramp Network.
Making Fiat On-ramps Fast, Low-Cost and Intuitive
Ramp Network is a UK-based crypto project working to provide smooth on- and off-ramp functionalities for crypto users. It allows crypto platforms to use its API to build its plugin directly into their tools, such as wallets and apps. It is fully compliant with the applicable regulations and is supervised by the UK Financial Conduct Authority.
Ramp’s fiat-to-crypto gateway technology is designed to make the experience of moving from the fiat to the crypto world and back as convenient, fast and low-cost as possible — just like depositing money with a neobank. Users can tap into Ramp both via its web-site and from within the third-party tools that it integrates with.
Ramp also strives to smooth out its clients’ KYC experience. Depending on the circumstances, users purchasing less than 100 EUR in cryptocurrency via Ramp by debit cards or 250 EUR by bank transfer and making fewer than 5 deposits may only need to provide their name and address. For higher amounts of more frequent transactions, other KYC procedures need to be completed depending on the amount.
Ramp is also the first fiat-to-crypto gateway project to fully recognize the importance of second-layer blockchain scalability solutions, including EVM-compatible sidechains. It is, to our knowledge, the only provider that works directly with Ethereum sidechains, including Fuse Network.
How Fuse Deploys Ramp
Fuse’s integration with Ramp has been running in beta since last November and recently went fully live. The exclusive partnership is allowing Fuse to benefit from Ramp’s speed of transfers, smooth UX, broad coverage of jurisdictions and convenient customer support.
Through the integration with Ramp, Fuse users can purchase stablecoins on Fuse, in particular FuseDollar (fUSD), with euros from almost anywhere in the world with the help of the Ramp plugin. The purchase methods that are currently supported are debit cards, SEPA bank transfers, Open Banking (including Revolut) and Apple Pay.
The maturing partnership with Ramp is particularly crucial for the on-boarding of users to Fuse’s consumer-facing mobile wallet Fuse Cash which was officially released on Wednesday 12th May both on Android and iOS. Fuse Cash adopters will be able to purchase fUSD straight from the app. They will then be able to use it to send to other people or trade on Fuse’s native decentralized exchange (DEX) FuseSwap.
Recognizing the imperative to make it possible for as many users as possible to frictionlessly deposit their money to Fuse, Fuse and Ramp Network have worked together to ensure that the on-ramps remain free of charge during a limited time frame. This means that users wishing to deposit money onto Fuse will not have to pay any on-ramp fees.
About Ramp
Ramp is a UK based crypto onramping provider with offices in the USA and Poland. They work with 200+ partners to provide easy, smooth access to crypto-enabled products like Fuse.
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