Hassan Maishera
Ramp Network (RAMP), the financial technology company building payment rails that connect the crypto economy with the global financial system, announced on Wednesday, December 20th, that it has added an on-ramp to The Open Network (TON) blockchain ecosystem.
In a press release shared with Cryptowisser, the team said that following this integration, millions of users of the popular Telegram messaging application will have a simple way to explore the possibilities of Web3 via TON.
The availability of this on-ramp means that Ramp is making it simple for users to purchase Toncoin ($TON) quickly and securely using traditional fiat. Toncoin is the native cryptocurrency of the TON blockchain, used for network operations and transactions, and to purchase digital assets such as NFTs and Web3 gaming accessories and items.
While commenting on this latest development, Szymon Sypniewicz, CEO at Ramp, said,
“We’re thrilled to team up with TON and open up the doors to Web3 for hundreds of millions of Telegram users. By allowing users globally to purchase TON using their local currencies and preferred payment method, we’re working with TON on a joint mission to build a decentralized future for everyone.”
Daniel Yang, Global Business Development Lead at TON Foundation, added that,
“The launch of this new on-ramp for TON’s ecosystem will build upon the wide range of existing options, enabling additional users to purchase Toncoin and discover the unique benefits of TON ecosystems' near instantaneous, borderless transactions. Ensuring that the onboarding process is seamless and that options are widely available is crucial to our commitment to accelerating the mass adoption of Web3 technology by non-native users.”
The team explained that Telegram users will need to acquire Toncoin to explore Web3 from within the popular messaging app. Ramp is providing a gateway to the TON ecosystem. With Ramp, users can purchase cryptocurrencies with fiat in seconds.
In addition to that, developers can integrate Ramp’s on-ramp into their applications, allowing users to buy Toncoin and other tokens natively. Ramp is registered as a cryptoasset business with the UK Financial Conduct Authority (FCA) and as a Money Service Business (MSB) with the US Financial Crimes Enforcement Network (FinCEN)
Ramp’s on-ramo solution currently supports popular payment methods including credit and debit cards, bank transfers, Apple Pay, Google Pay and also PIX, a popular digital payment method used by approximately 70% of the population in Brazil.
Ramp Network (RAMP) is a financial technology company building solutions that connect the crypto economy with today’s global financial infrastructure. Through its core on- and off-ramp products, Ramp provides businesses and individuals across 150+ countries and territories with a streamlined and smooth experience when converting between cryptocurrencies and fiat currencies.
Meanwhile, The Open Network (TON) is a global, decentralized blockchain community focused on putting crypto in every pocket. By building the Web3 ecosystem in Telegram Messenger, TON's vision is to empower 500 million users to own their digital identity, data, and assets by 2028.
