We are tremendously excited to release Ramp Instant: a radically better way to on-ramp your users to the brave new world of decentralised finance 🚀
Ramp Instant lives inside web and mobile dApps and wallets. You can try it out now with Zerion, Multis, AdEx and Universal Login SDK! When you first use it, you’ll be asked to connect your bank account with Ramp. This way, we can avoid scanning your passport while still living up to the highest security standards. Initiate payment, authorize it with your banking app and it’s all done. It takes minutes, rather than the industry standard of 1 day+.
The entire flow is seamless. Most transactions are settled in just a few minutes — and all this while 1) keeping the fees low 2) not asking for your credit card data (or to steal) and 3) featuring superb UX.
Under the hood, Ramp Instant is non-custodial and peer-to-peer. Every transaction is matched with a peer in the background, so your payment goes directly to your counter-party’s bank account, not to Ramp. Before that happens, the asset you’re buying is escrowed on a smart contract that will release it if (and only if) the oracle confirms a bank has settled the payment.
At its core, Ramp isn’t unlike 0x and Kyber — but instead of settling everything on-chain, it connects blockchains and banks. Interoperability between decentralized ledgers is still difficult, but connecting banking databases with blockchains was impossible until very recently. Thanks to Ramp’s technology, this is now within our reach.
The future is P2P
We strongly believe in decentralization. Centralized gateways pose a huge risk with regards to long-term stability and are irreversibly tied to higher fixed costs. We chose to build Ramp Instant without compromises in order to deliver rock-solid security and high scalability everywhere open banking will become available.
Over the coming weeks, you will see Ramp Instant integrated with some of the most exciting dApps on Ethereum, including Nuo Network, Argent and many, many more. Integration takes six lines of code — check it out here. Our dev team is available to chat here, and if you want a more custom approach, drop us a line at email@example.com.
Ramp Instant is currently only available with UK bank accounts and several other banks across the EU, but we’re planning a full EU launch by the end of 2019. Stay tuned for more continents, more dApps and exciting news by signing up here ♥️