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Cryptocurrency News Articles

Velocity Labs Empowers Polkadot with Seamless Fiat-to-Crypto Onramp via Ramp Integration

Apr 25, 2024 at 08:33 pm

Velocity Labs announces the integration of Ramp Network's fiat to crypto onramp into its Asset Hub, unlocking simplified access to Polkadot's DeFi ecosystem. Ramp's infrastructure will enable seamless fiat-crypto conversions, broadening the accessibility of Asset Hub's asset creation, management, and utilization services. This collaboration aims to eliminate barriers to DeFi adoption within the Polkadot network and empower builders and users alike.

Velocity Labs Empowers Polkadot with Seamless Fiat-to-Crypto Onramp via Ramp Integration

Velocity Labs Empowers Polkadot Ecosystem with Fiat-to-Crypto Onramp via Ramp Network Integration

Zug, Switzerland - April 25, 2024 - Velocity Labs, a leading innovator in DeFi and infrastructure development, today announced a groundbreaking partnership with Ramp Network to seamlessly bridge the gap between fiat and crypto within the Polkadot ecosystem. This integration marks a significant milestone in enhancing accessibility and unlocking the full potential of DeFi on Polkadot.

Addressing the Accessibility Challenge

Onramps from fiat currencies to cryptocurrencies have long been a major pain point for users seeking to participate in DeFi. Recognizing this critical barrier, Velocity Labs has dedicated years of effort to developing solutions that simplify the onboarding process. This partnership with Ramp represents a culmination of those efforts, removing the complexities and high barriers to entry that have hindered crypto adoption in the past.

The Power of Asset Hub

Velocity Labs' Asset Hub, a system parachain within the Polkadot ecosystem, serves as a central hub for the creation, management, and utilization of assets. As a system parachain, Asset Hub establishes a trusted connection with the Polkadot Relay Chain, facilitating the transfer of DOT from the Relay Chain to Asset Hub. This infrastructure forms the foundation for issuing ERC-20-like tokens on Polkadot and empowers the resurgence and growth of DeFi within the ecosystem.

The Ramp Network Integration

Ramp Network, a leading onramp infrastructure provider for Web3, brings a wealth of experience and expertise in bridging the gap between traditional finance and digital assets. Through its comprehensive on- and off-ramp services, Ramp offers a streamlined and intuitive experience for businesses and individuals in over 150 countries to convert between cryptocurrencies and fiat currencies. Ramp's integration with major payment methods, including debit and credit cards, bank transfers, Apple Pay, and Google Pay, ensures seamless transactions for users of all levels.

Velocity Labs' Commitment to Innovation

"Our partnership with Ramp Network is a testament to our unwavering commitment to transforming the Polkadot blockspace ecosystem into a thriving hub for DeFi innovation," said Velocity Labs CEO. "We believe that accessible and user-friendly onramps are essential for unlocking the full potential of Polkadot and enabling mass adoption of DeFi."

Join the Velocity Labs Team

Velocity Labs actively seeks builders and innovators to join their team and contribute to the creation of a robust and efficient DeFi ecosystem on Polkadot. Individuals interested in shaping the future of DeFi are encouraged to contact Velocity Labs through their website.

Contact Information

For inquiries, please contact:

Maria Paula Fernandez, Ops Lead
Velocity Labs AG
[email protected]

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