Bitcoin
$64,519.68+1.67%
Ethereum
$3,085.88+0.61%
Binance Coin
$561.35+1.86%
Solana
$147.43+5.82%
XRP
$0.50441605+0.66%
Toncoin
$6.38+1.84%
Dogecoin
$0.15297933+1.70%
Cardano
$0.47211561+3.80%
Shiba Inu
$0.00002288+0.41%
Avalanche
$35.43+1.21%
Wrapped Bitcoin
$64,664.96+1.79%
Tron
$0.11080627+1.39%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
01
DAY
03
HR
52
MIN
37
SEC
Markets

Crypto Startup Ramp Secures FCA Registration

The "PayPal for crypto" service Ramp has become the eighth firm to win registration with the U.K financial watchdog.

By Jamie Crawley
AccessTimeIconAug 6, 2021 at 10:07 a.m. UTC
Updated Sep 14, 2021 at 1:36 p.m. UTC
architecture-5366005_1280
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

U.K. crypto payments infrastructure startup Ramp has become the eighth crypto firm to secure registration with the country's financial-services watchdog, the Financial Conduct Authority (FCA).

  • Ramp is the first on-ramp service to be certified, the company said Thursday.
  • Branding itself the "PayPal for crypto," Ramp offers a software development kit to companies wishing to offer crypto-enabled services, removing the need to integrate with third-party exchanges.
  • Ramp recently became the exclusive on-ramping partner of blockchain-based fantasy soccer platform Sorare and the non-fungible token (NFT) marketplace-focused blockchain Flow.
  • The firm raised $10 million in June in a seed funding round led by NFX and Galaxy Digital.
  • The FCA became the U.K.'s anti-money laundering and counter-terrorist financing supervisor of crypto asset firms in January. Businesses under its supervision need to demonstrate they comply with those regulations to be allowed operate.
  • It was reported in June that 64 crypto firms had abandoned their plans for FCA registration amid mounting regulatory scrutiny. The deadline for registration is March 31 of next year.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.