Zug, Switzerland, April 25, 2024, Chainwire

Velocity Labs is proud to announce fiat-to-crypto transition utilizing Ramp Community with Asset Hub integration. Via this, Ramp will have the ability to serve any parachain within the ecosystem.

The transition from fiat to crypto has traditionally been one of many greatest accessibility points in DeFi. Due to energetic builders who caught this drawback early and labored with regulators, bank card issuers, and different fee infrastructure suppliers, excessive obstacles to entry for cryptocurrencies have gotten a factor of the previous.

Final November, Velocity Labs started negotiations with Ramp, Web3's main on-ramp infrastructure supplier. Our objective is straightforward: to maximise the accessibility of Asset Hub and unlock its full potential.

Asset Hub is a system parachain that may be thought of the “dwelling base” for property within the Polkadot Blockspace ecosystem. This lets you create, handle, and use property inside the Polkadot community. As a system parachain, it has a belief relationship with the Polkadot relay chain, permitting porting of DOT from the relay chain to the asset hub. The Asset Hub is essential to the issuance of tokens just like ERC-20 (the usual that powers DeFi on its chains) and the upcoming and future resurgence of DeFi on Polkadot. Nonetheless, Asset Hub has many limitations, particularly relating to UX and DevEx. Velocity acknowledges the potential and significance of Asset Hub and has labored tirelessly to handle these limitations.

lamp is a monetary expertise firm constructing options that join the crypto financial system with at present's world monetary infrastructure. Via its core on-ramp and off-ramp merchandise, Ramp gives companies and people in over 150 nations with a streamlined and frictionless alternate expertise between cryptocurrencies and fiat currencies. Ramp is absolutely built-in with the world's main fee strategies, together with debit and bank cards, financial institution transfers, Apple (NASDAQ:) Pay, Google (NASDAQ:) Pay, and extra.

About Velocity Labs

Velocity Labs is a DeFi and infrastructure growth firm based with the aim of reworking the Polkadot blockspace ecosystem right into a thriving hub of DeFi innovation. Velocity Labs, a staff shaped by a Polkadot veteran and his DeFi consultants, is working to construct essential market infrastructure and instruments to appreciate Polkadot's full potential.

For extra data, go to velocitylabs.org.

Velocity Labs is actively looking for builders to affix us in constructing essentially the most environment friendly and resilient ecosystem for DeFi on Polkadot. In the event you suppose that is you, please contact us utilizing this kind.

contactOperational commanderMaria Paula FernandezVelocity Lab AG[email protected]

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