Pundi X integrates Ramp to build a better on-ramp experience for XPOS merchants
Supporting DAI deposit with bank transfer, debit cards and Apple Pay
Ramp, a UK company responsible for developing infrastructure for cryptocurrency apps, has worked with Pundi X to improve the on-ramp experience for XPOS distributors and merchants. Using their technology and expertise, Ramp will provide XPOS users a way to deposit DAI with EUR or GBP via their bank accounts, debit cards and Apple Pay. This makes it easier for XPOS merchants not only to accept another form of cryptocurrency, but also to reach a new audience of cryptocurrency enthusiasts.
Since the company’s founding in 2017, Ramp has worked steadily to empower a world fueled by open networks. Their work primarily consists of using open banking application programming interfaces (API) to connect crypto with fiat, just as they have for the DAI/EUR and DAI/GBP pairs. The company’s end goal is to bring about a society where everyone can exchange crypto as easily as surfing the Internet. Ramp’s aims make them an especially desirable partner for Pundi X.
Yet there are also other reasons why Pundi X and Ramp have decided to work together. For one, the DAI/EUR and DAI/GBP pairing offered by Ramp allows XPOS merchants to transact at a lower fee. This is thanks to Ramp’s use of open bank API, which utilizes open banking connection and various other data sources to perform effective Know Your Client (KYC) processes, resulting in a speedier transaction as well. Additionally, Ramp is under supervision by the UK’s Financial Conduct Authority, ensuring that the company remains compliant.
Finally, all transactions will happen on-chain and DAI top-ups will be deposited to XPOS users’ crypto sale accounts directly.
For Pundi X CEO and co-founder Zac Cheah, the collaboration with Ramp is especially timely. “Ramp’s experience will help merchants iron out their shifts to digital payments,” he explained. “In a world increasingly going cashless, the importance of this can hardly be understated.”
Szymon Sypniewicz, Ramp’s CEO, said, “Fueling real life use cases like XPOS with cryptocurrencies is a huge step for the community. We believe open networks bring infinite benefits to merchants and distributors and we’re very excited to work towards this goal with Pundi X.”
ABOUT RAMP
Founded in 2017, Ramp builds decentralized infrastructure that not only makes crypto apps powerful, but also delightful. Ramp strives to create a future where transacting in cryptocurrency is easy for everyone, not just a select few crypto natives.
For more information, please visit https://ramp.network/
