Fintech Firm Ramp Network Registered as Virtual Asset Service Provider in Ireland

Ramp Network, a UK-based financial technology company building payment rails connecting crypto to the global financial system, announced yesterday (May 23) that it has received registration approval from the Central Bank of Ireland to operate as a Virtual Asset Service Provider (VASP).

With this new registration, Ramp Network will provide fiat-to-crypto currency exchange services in the region through its Irish subsidiary. Furthermore, the company has decided to establish a team and operations in Dublin and intends to further expand its investment in Ireland, making the country its European headquarters by seeking authorisation as a Crypto Asset Service Provider (CASP) under the Markets in Crypto Assets Regulation (MiCAR) which will come into force at the end of the year.

Steven Eisenhauer, Chief Risk and Compliance Officer at Ramp Network, commented: "When deciding on a future European home for Ramp Network, it didn't take us long to conclude that Ireland was an ideal location. Beyond the country's status as an innovation hub with a broad base of available technology and financial services talent, we were drawn by the Central Bank of Ireland's collaborative and direct approach. The regulator has a reputation as a serious and competent authority which fully aligns with our vision of promoting crypto adoption through compliant and safe services."

Ramp Network is steadily executing its global expansion plan. In July last year, the company announced the establishment of an entity in Brazil and began its expansion into the Latin American market.