The Irish branch of Ramp Network, a crypto infrastructure firm based in the UK, has successfully obtained registration as a virtual asset services provider (VASP) in Ireland, as stated in a press release on Thursday. Ramp Network specializes in financial technology, constructing payment networks that link cryptocurrency to the global financial system. This registration will empower its users to convert fiat currencies into over 100 different cryptocurrencies.
In a bid to establish Ireland as its European headquarters, Ramp Network has set up a team and operational base in Dublin. The company aims to attain authorization as a Crypto Asset Service Provider (CASP) under the Markets in Crypto Assets Regulation (MiCA).
To achieve CASP licensing under MiCA—a regulatory framework tailored for crypto in the European Union—a company must have a registered office in an EU member state where it conducts some of its business and employs a resident director.
Several crypto firms, such as Coinbase, have pursued licensure in Ireland. Coinbase expressed its desire for Ireland to serve as its EU hub in October, citing the country’s favorable environment for fintech enterprises. Moreover, Kraken, a crypto exchange, obtained an e-money institution license in Ireland in September, while Zodia Market, backed by Standard Chartered, secured registration in Ireland in October.
May 2024, Cryptoniteuae
