Quick take:
- Ramp network connects cryptocurrencies to the global financial system allowing people to buy cryptocurrencies with credit cards, bank wire or mobile wallets.
- Telos Foundation expects the integration to boost accessibility to the Telos blockchain.
- Ramp Network already supports payments through Apple Pay, Google Pay, and PIX, with support for more than 40 global currencies.
Ramp Network, the financial technology provider helping crypto traders buy cryptocurrencies using fiat currencies has added Telos Blockchain’s $TELOS token into its global on-ramp network.
This integration allows users in over 150 countries worldwide, including 37 U.S. states to acquire $TLOS tokens using familiar fiat payment methods. Users can buy and withdraw cryptocurrencies using a variety of fiat payment methods including credit/debit cards, bank transfers, Apple Pay, Google Pay, and PIX.
According to the announcement, Telos believes that this integration will boost accessibility to the Telos blockchain, allowing the Telos community to convert their TELOS tokens into any of the more than 40 supported global currencies.
Commenting on the announcement, Szymon Sypniewicz, CEO of Ramp said in a statement: “We are thrilled to integrate $TLOS into our global on-ramp offering, making it easier for users across 150+ countries to engage with the Telos blockchain. This step reinforces our dedication to bridging the crypto and traditional financial systems, and significantly boosts the accessibility of Web3 gaming through Ramp.”
Crypto on-ramp/off-ramp service providers have become more popular over the past two years as Web3 companies try to simplify the process of acquiring crypto assets. Developers can easily integrate easy-to-use crypto on- and off-ramps within their dApps using the Ramp Network API, thus ensuring fast and seamless crypto purchases.
Lee Erswell, CEO of the Telos Foundation commented: “Telos is fundamentally designed for speed and scalability, and our integration with Ramp enhances this ethos by delivering a seamless fiat-to-crypto solution. This collaboration not only empowers our users with effortless and rapid transactions, but it also aligns perfectly with our vision of a frictionless blockchain experience.”
According to Erswell, this collaboration simplifies the process of onboarding users onto his company’s blockchain, which boasts low fees and lightning-fast capabilities. “This integration is a significant step towards a future where the transition between crypto and fiat is not just achievable but a streamlined, everyday reality,” he added.
Created purposely for Web3 gaming and decentralised finance (DeFi), Telos Blockchain is rapidly developing into a major universe for decentralised Apps, including blockchain games, NFTs, decentralized exchanges, and DeFi protocols.
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