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Crypto infrastructure company Ramp Network secures Ireland registration
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Ramp Network has secured registration as a Virtual Asset Service Provider (VASP) in Ireland.
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It plans to make Ireland its European headquarters and obtain a license as a cryptocurrency services provider.
The Irish branch of UK-based crypto infrastructure company Ramp Network has secured the registration of a virtual asset service provider (VASP) in Ireland, the company said in a press release on Thursday.
The Ramp Network is a financial technology company that builds payment rails that connect cryptocurrencies to the global financial system. This registration will allow its users to exchange fiat currencies for more than 100 crypto assets.
The company wants to make Ireland its European headquarters and has set up a team and operation in Dublin. It intends to obtain authorization as a Cryptocurrency Service Provider (CASP) under the Cryptocurrency Markets Regulation (MiCA).
TO become an authorized CASP according to MiCA, the European Union’s customized rules for cryptocurrencies, a company must have a registered office in an EU member state where it carries out part of its activities and has a resident director.
Many cryptocurrency companies like cryptocurrency exchange Coinbase have this obtained a license in Ireland. In October, Coinbase said this he wanted Ireland to be his EU hub because it has a favorable environment for fintech companies.
Cryptocurrency exchange Kraken has also secured a License for an electronic money institution in Ireland in September, and Standard Charter-backed Zodia Market gained registered in Ireland in October.