DeFi
News
-
26/4/2024

Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support

Velocity Labs is proud to announce a fiat to crypto onramp using Ramp Network through the integration of Asset Hub. Through it, Ramp will be able to service any parachain in the Polkadot ecosystem.

Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support
Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support

Onramps from fiat to crypto have historically been one of the biggest pain points with regard to DeFi accessibility. Thanks to the tireless builders who identified this issue early on, and have been working with regulators, credit card issuers and other payment infrastructure providers, the high barriers to crypto entry are about to be a thing of the past.

In November of last year, Velocity Labs began talks with Ramp, the leading onramp infrastructure provider for web3. The objective was simple: maximize Asset Hub’s accessibility, and to get it to its full potential.

Asset Hub is a system parachain considered the “home base” of assets in the Polkadot blockspace ecosystem. It enables the creation, management, and use of assets in the Polkadot network. As a system parachain, it has a trusted relationship with the Polkadot Relay Chain, allowing for porting of DOT from the Relay Chain to Asset Hub. Asset Hub is crucial for the emission of tokens similar to ERC-20 (the Ethereum standard powering DeFi on that chain) and the imminent and future resurgence of DeFi on Polkadot. However, Asset Hub has many constraints, particularly around UX and DevEx. Recognizing the potential of Asset Hub and its importance, Velocity has been working tirelessly to address these limitations.

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 with a streamlined and smooth experience in converting between cryptocurrencies and fiat currencies. Ramp is fully integrated with the world’s major payment methods, including debit and credit cards, bank transfers, Apple Pay, Google Pay, and more.

About Velocity Labs

Velocity Labs is a DeFi and infrastructure development company founded with the objective of transforming the Polkadot blockspace ecosystem into a thriving hub for DeFi innovation. A team formed by Polkadot veterans and DeFi experts, Velocity Labs is committed to building critical market infrastructure and tooling to unlock Polkadot’s full potential.

More information on velocitylabs.org

Velocity Labs actively searching for builders to join us in creating the most efficient and resilient ecosystem for DeFi on Polkadot. If you think this is you, please get in touch with us through this form.

No items found.
Attention : nos articles ne sont pas à prendre en compte comme un conseil financier. Les rendements des investissements pouvant être indiqués dans nos articles sont illustratifs et ne sont pas destinés à être garantis. Tout investissement est soumis à des risques, y compris la perte possible du montant principal investi. Effectuez vos propres recherches avant de prendre toute décision d’investissement.
L'investissement dans les crypto-actifs présente un risque de perte en capitale totale ou partielle. Dehfi attire l’attention des internautes sur le fait que des services et produits décrits dans le site peuvent faire l’objet de restrictions dans certains pays ou vis-à-vis de certaines personnes.
Brave New Coin
Abonnez-vous à DeHFi
Inscrivez-vous à notre lettre d'information et nous vous tiendrons au courant !

Pour aller plus loin...