We are proud to finally announce one of the most anticipated partnerships for the evolution of the Bitmonds project: the one with Ramp Network.
Ramp Network is a startup founded in Warsaw and now based in London, specializing in payment infrastructures for cryptocurrencies, which recently raised 70 million dollars in a Series B round. Their solution allows end users to buy and sell cryptos without leaving their Partner’s website.
This achievement is the result of many months of work, during which we presented the Bitmonds project in detail to Ramp, asking for and obtaining the integration of their On-Ramp and Off-Ramp solutions into our platform. We are not aware of any other Italian projects that have been given this opportunity.
Why is this news so important?
Let’s go into greater detail about their services:
- ON RAMP: Instant purchase of cryptos, through payment in FIAT currencies (for example using a Credit Card)
- OFF RAMP: Instant sale of cryptos, with credit of FIAT currencies on your own Credit Card (or in some cases Bank Account)
These two tools will allow us to create a Marketplace between collectors that no traditional payment solution can enable.
How will it work?
A Buyer will be able to buy Bitmonds in the Marketplace using their own Credit Card (alternatively to their own cryptos).
The ON RAMP tool will instantly convert the funds into MATIC and transfer these funds to the Buyer’s Custodial Wallet (if the Buyer owns a personal wallet, they will pay directly with the cryptos on it).
To complete the purchase, the funds will be automatically transferred to the Seller’s Wallet and the Bitmonds transferred, always automatically, to the Buyer’s Wallet.
The Seller will be able to use OFF RAMP to transfer the MATIC received directly to his own Credit Card (or use the funds for other purchases on the Bitmonds Marketplace or on other portals).
Currently, there are minimum values (around $50) to use OFF RAMP, which we think will be lowered over time with the evolution of Ramp Network. But it is already a very powerful feature today.
This will allow several advantages:
- Access to a much wider audience, which we could define as Web2. More interested in the Fashion Design and Gamification aspect of the Bitmonds project. These solutions bring digital collecting closer to 99.9% of people who do not own a personal Wallet.
- Automation of the Purchase process (the Bitmonds will be transferred to the Buyer automatically a few minutes after the payment procedure)
- Greater transaction security
This is an innovative service that will perfectly integrate with the other new features that we are going to introduce in the new portal. Like the possibility of having Bitmonds on a Non-Custodial Wallet.
The rates of ON RAMP and OFF RAMP will be very competitive, considering the type of service provided by our Partner.
This piece is for us one of the key points of the new platform that we are going to release. And it also partly explains the wait that this entails.
Thanks to Ramp Network for the trust!