Ramp Network, a financial technology company building payment rails connecting crypto to the global financial system has added support for Base, the Coinbase-developed layer2 network. The integration means that Ramp users can convert Base-native ETH and USDC to crypto on other chains as well as into fiat currency.
Designed to support fast and low-cost transactions, Base is an Ethereum L2 thats built using Optimisms rollup technology. In late July the network opened its mainnet to developers, followed by an official launch on August 9.
Base has already witnessed an influx of users seeking to access the new tokens and DeFi primitives emerging on the layer2 chain. Ramps decision to add support for Base creates a valuable pipeline for entering and exiting the Base ecosystem, making it easier for users to direct digital assets to where theyre needed.
Coinbases fresh blockchain, Base, was initially introduced to developers in February. Nevertheless, its formal public debut is today. In alignment with our steadfast commitment to the ecosystems Layer 2 solutions, Ramp will proudly support Base right from its inception, enabling transactions with ETH and USDC from day one. Exciting times ahead! stated Szymon Sypniewicz, CEO of Ramp.
Developing reliable on- and off-ramps is critical to bootstrapping emerging crypto networks. Ramps integration of Base arrives at a crucial time for the nascent chain, giving users the confidence to explore the L2 confidence that they can withdraw funds whenever they like.
The Ramp platform now supports the conversion of ETH and USDC on Base into dozens of other crypto assets including BTC, stablecoins, and ETH on other chains. In addition, users can convert Base assets directly into fiat currency. Ramp can also be used to deposit funds onto Base, allowing users to start exploring its growing ecosystem in minutes.
In addition to directly benefiting users of the Coinbase-supported chain, Ramps integration of Base will aid third-party developers. It will empower them to create applications that integrate Ramps fiat-crypto service. This will accelerate the creation of novel apps that capitalize on the powerful network effects afforded by the new layer2.
Ramp is a financial technology company building solutions that connect the
crypto economy with todays global financial infrastructure. Through its core
on- and off-ramp products, Ramp provides businesses and individuals across
150+ countries with a streamlined and smooth experience when converting
between cryptocurrencies and fiat currencies. Ramp is fully integrated with
the worlds major payment methods, including debit and credit cards, bank
transfers, Apple Pay, Google Pay, and more.
Learn more: https://ramp.network/
View source version on newsdirect.com: https://newsdirect.com/news/ramp-integrates-l2-network-base-into-its-crypto-fiat-service-694996866
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Open Headline journalist was involved in the writing and production of this article.