Ramp Network, a fintech company building payment rails between crypto and the worldwide financial system, has introduced a global on-ramp for the Telos blockchain’s native $TLOS token. This move also includes users in the United States.
Ramp’s Global Reach
Ramp, which supports over 100 digital assets, provides consumers with access to Web3 through its on- and off-ramps, which are designed to make the buying and selling of digital assets more straightforward.
With the launch of this on-ramp, Ramp Network has enabled users from over 150 countries, including 37 U.S. states, to acquire $TLOS tokens. The process accommodates fiat payment methods such as credit/debit cards, bank transfers, Apple Pay, Google Pay, and PIX. Additionally, transactions can be conducted in more than 40 global currencies.
“This step reinforces our dedication to bridging the crypto and traditional financial systems,” announced Szymon Sypniewicz, CEO of Ramp, in a statement. “And significantly boosts the accessibility of Web3 gaming through Ramp.”
Telos Blockchain
Telos, a third-generation blockchain platform, utilizes a delegated proof-of-stake (DPoS) consensus mechanism. Its goal is to become the default decentralized network for Web3 gaming while supporting a vibrant DeFi ecosystem. Telos, with over 900,000 user accounts, hosts various decentralized applications (dApps), including blockchain games, NFTs, decentralized exchanges, and DeFi protocols. The $TLOS token plays a central role in the Telos ecosystem.
According to CoinMarketCap, the market capitalization of $TLOS reached over $75 million as of February 2, 2024, and is capable of processing up to 15,200 transactions per second while maintaining an average gas cost of less than $0.001. Moreover, through its DPoS model, Telos addresses energy efficiency and ESG compliance, aligning with more sustainable blockchain technologies.
Future Prospects for the Telos and Ramp Network Partnership
Ramp’s support for fiat-to-$TLOS transactions simplifies the onboarding process for new users and makes Telos’ blockchain services more accessible. This development could positively impact the adoption of Web3 gaming and other dApps on the Telos network.
“Through Ramp, we are opening the doors to global access, ensuring everyone can benefit from our future-ready blockchain’s low fees and lightning-fast capabilities, all within a simplified user-experience process,” stated Lee Erswell, CEO of the Telos Foundation. “This integration is a significant step towards a future where the transition between crypto and fiat is not just achievable but a streamlined, everyday reality.”
The partnership between Ramp Network and Telos highlights the growing synergy between fintech and blockchain technologies. It signifies a shared vision for a more inclusive and efficient digital asset economy.
As Ramp Network launches its global on-ramp for the Telos blockchain’s $TLOS token, enhancing access worldwide, investors should remember to exercise caution. Given the volatility of the crypto market, it’s wise to invest only what you can afford to lose by researching and making informed decisions.
