P2P fiat-crypto gateway Ramp receives open banking license in Europe

Tuesday 4 February 2020 14:07 CET | News

Ramp, a Poland-based crypto payment gateway, has announced it received an Open Banking License in Europe.

After a 13-month registration process, Ramp is now a fully licensed Account Information Service Provider (AISP). This means that the Ramp Network is able to access banking data on behalf of the bank account’s owner for banks across the European Union. All banks are required to give Ramp access to the payment data of their consenting users. By connecting to bank APIs directly, Ramp makes it possible to settle transactions based on API connections with banks.

Operating as a P2P marketplace where liquidity pool owners (sellers of cryptocurrency) provide liquidity to end-users (the buyers of cryptocurrency). Two key components of the Ramp Network system include: Ramp Instant and Ramp Pools. All transactions between users are settled with open banking APIs. Currently, Ramp is available in the United Kingdom and soon the entire eurozone. Anyone can try it today and see how access to banks’ APIs enable a fully new and different crypto onboarding experience.

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Keywords: crypto payment gateway, Open Banking, open banking licence, Poland, Account Information Service Provider, European Union, API connection, P2P marketplace, digital banking, online banking
Categories: Banking & Fintech
Countries: Europe, Poland
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Banking & Fintech

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