On Tuesday, crypto-fiat gateway payments platform Ramp announced that its U.S. subsidiary Ramp Swaps LLC hadreceived its registration as a Money Service Business with the Department of Treasury’s Financial Crimes Enforcement Network. The regulatory greenlight enables Ramp to do business in 38 states across the U.S. Besides the development, Ramp also has regulatory clearance with the U.K.’s Financial Conduct Authority and Poland’s Financial Supervision Authority.
Ramp allows users to buy crypto directly in their wallets and decentralized applications, or dApps. Last year, the company grew its transaction volume by approximately 30x. It has partnerships with over 400 blockchain entities worldwide, including Axie Infinity, Mozilla, Opera Browser, Aave, Trust Wallet, and is the exclusive on-ramping partner for fantasy nonfungible tokens football (soccer) game Sorare.
The year prior, Ramp