Ramp Swaps (Ireland) Limited, operating under the name Ramp Network, has officially commenced its operations as a licensed Crypto Asset Service Provider (CASP) within the European Union. This development enables the company to fully cater to EU customers under its approved CASP license.
All activities involving EU customers will now be conducted in compliance with the CASP authorization, which adheres to the regulations stipulated in the Marketing in Crypto Assets Regulation (MiCAR) and overseen by the Central Bank of Ireland. The authorization acts as a regulatory passport, allowing Ramp Network to extend its on- and off-ramp services across all 27 EU member states under a unified license.
The CASP authorization encompasses essential functions that facilitate the smooth exchange between fiat currencies and digital assets, all while operating under a standardized regulatory framework provided by the EU. Przemek Kowalczyk, CEO of Ramp Network, stated, “Operating fully as a licensed Crypto Asset Service Provider represents a major milestone in how Ramp Network serves customers across the European Union.”
Kowalczyk emphasized that this licensing ensures that EU customer interactions are governed by a cohesive regulatory structure. This structure is aimed at enhancing consumer protections, clarifying rules, and ensuring consistent operations across member states. He noted that Ramp Network, which has been developed and expanded within Europe, remains committed to the region”s market and regulatory standards.
MiCAR represents the first globally harmonized regulatory framework for crypto services, setting benchmarks for operational resilience, governance, transparency, and consumer protection. The recent approval for Ramp Network indicates that its processes and systems align with these new standards, supporting compliant expansion throughout Europe.
Strategically, this CASP status positions Ramp Network to operate within a single regulatory framework, avoiding the complexities of navigating fragmented national regulations. This alignment is expected to foster regulatory clarity, facilitate cross-border consistency, and promote sustainable growth in the European digital asset landscape as MiCAR is rolled out across member states.
Ramp Network is dedicated to developing solutions that bridge the gap between the traditional financial sector and the cryptocurrency ecosystem. With its core offerings, the company aims to provide users in over 150 countries with an efficient and seamless experience when converting between cryptocurrencies and fiat currencies. The platform is fully integrated with leading payment methods, including credit and debit cards, bank transfers, and mobile payment options like Apple Pay and Google Pay.
As a regulated entity under the Central Bank of Ireland, Ramp Network is poised to play a significant role in the evolving landscape of digital finance in Europe.
