Financial Conduct Authority (FCA), British financial regulator, has registered a Polish startup Ramp as an operating entity kryptowalutami. It is the eighth company on the FCA list, and the first to provide access to the so-called on-ramping.
New opportunities for cryptocurrency users
Ramp is a Polish startup that provides payment infrastructure for applications that use cryptocurrencies or other digital assets. The company uses tools from the SDK group that enable the so-called on-ramping, i.e. the exchange of traditional currencies for cryptocurrencies made directly in wallets and applications, without the need to switch between them.
Thanks to Ramp, developers gain new opportunities to design applications based on blockchain technology, ensuring fast and efficient payments. Thanks to this, they become available to a wider group of recipients.
Registration of the Financial Conduct Authority
Recently Ramp was registered by the Financial Conduct Authority, the British authority regulating the financial services market. From the beginning of 2020, every company operating in the territory of Great Britain, whose activities are related to cryptocurrencies, must obtain an entry in the FCA.
It is synonymous with the fact that a given organization operates in accordance with anti-money laundering, terrorist financing and funds evacuation regulations. So far, eight companies have been registered with the FCA, including the British company Ramp Swaps Ltd. This means that it provides its services in a safe manner, in a manner fully compliant with the applicable regulations. It is worth mentioning that already in 2020 the Polish company Ramp Link Sp. z o. o. has been granted the status of a provider of access to account information.
In June this year, the Polish startup Ramp, founded in 2018 by Szymon Sypniewicz and Przemysław Kowalczyk, obtained PLN 37 million in the seed round, which was held under the leadership of NfX and Galaxy Digital. Currently, it already has over 200 partners, using the infrastructure constantly developed by Ramp. They include, among others Opera, Mozilla, Argent or Zerion.
The company is still developing, which is also evidenced by the successively increasing number of employees. According to Szymon Sypniewicz, one of the co-founders of Ramp, the registration of FCA can be treated as an official recognition of the efforts made by the startup. He also added that the company aims to become an example for other entities operating in the crypto sector. In the near future, Ramp plans to create infrastructure for larger partners and implement new functions. The startup also intends to enter new markets and obtain licenses that make it fully compliant with applicable regulations.