Crypto Infrastructure Firm Ramp Network Secures Ireland Registration

As a seasoned crypto investor with a keen interest in the regulatory landscape of the industry, I’m thrilled to hear that Ramp Network has secured a VASP registration in Ireland. This is an important milestone for the company as it positions itself to become a significant player in Europe’s burgeoning crypto economy.

In a press release on Thursday, Ramp Network’s Irish branch announced that they have obtained registration as Virtual Asset Service Providers (VASPs) in Ireland.

The Ramp Network functions as a fintech business, developing infrastructure that bridges the gap between traditional finance and cryptocurrencies. By registering, users gain the ability to convert over 100 different crypto assets from fiat currencies.

The firm is planning to set up its European base in Dublin, Ireland, complete with a dedicated team and infrastructure. It aims to obtain the designation of a Crypto Asset Service Provider (CASP) under the Markets in Crypto Assets Regulation (MiCA).

As a MiCA (Markets in Crypto-Assets) regulatory analyst, I would explain that to obtain a license as a CASP (Crypto-Asset Service Provider) under this European Union regulation, a company is required to establish a registered office within an EU member state and appoint a resident director who will oversee some of its operations from that location.

Crypto firms such as Coinbase, a well-known cryptocurrency exchange, have obtained licenses in Ireland. In October, Coinbase expressed its intent to make Ireland the primary base for its European operations due to the region’s welcoming attitude towards fintech businesses.

Kraken, the cryptocurrency exchange, obtained an e-money institution license in Ireland during September. In October, Zodia Markets, which is backed by Standard Chartered Bank, secured registration there.