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Crypto Infrastructure Firm Ramp Network Secures Ireland Registration
The company wants to make Ireland its European headquarters.
Updated May 23, 2024, 1:00 p.m. Published May 23, 2024, 1:00 p.m.
- The Ramp Network has secured a virtual asset services providers (VASP) registration in Ireland.
- It plans to make Ireland its European headquarters and secure a license as a Crypto Asset Service Provider.
The Irish subsidiary of U.K.-based crypto infrastructure firm Ramp Network has secured a virtual asset services providers (VASP) registration in Ireland, the company said in a press release on Thursday.
The Ramp Network is a financial technology company building payment rails connecting crypto to the global financial system. This registration will enable its users to exchange fiat currencies for more than 100 crypto assets.
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The company wants to make Ireland its European headquarters and has established a team and operation in Dublin. It intends to get authorized as a Crypto Asset Service Provider (CASP) under the Markets in Crypto Assets Regulation (MiCA).
To become a licensed CASP under MiCA—the European Union’s bespoke rules for crypto—a company needs to have a registered office in an EU member state where it carries out some of its business and has a resident director.
Many crypto companies like crypto exchange Coinbase have secured a license in Ireland. In October, Coinbase said that it wanted Ireland to be its EU hub because it has a supportive environment for fintech companies.
Crypto exchange Kraken also secured an e-money institution license in Ireland in September, and standard chartered-backed Zodia Market gained registration in Ireland in October.
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