- Algorand Foundation invests in Onramp.money to boost Web3 adoption globally.
- Onramp.money expands fiat-to-crypto services across multiple jurisdictions.
- Collaboration enhances accessibility and growth of the blockchain ecosystem.
The Algorand Foundation, in a strategic move to enhance the global adoption of Web3 solutions, announces a significant investment by Algorand Ventures in Onramp.money, a fiat-to-crypto onramp service originating from India.
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Onramp.money, a provider of fiat-to-crypto onramp and offramp solutions, has recently expanded its services to several jurisdictions worldwide, including Vietnam, the UAE, Turkey, and Mexico.
In today’s rapidly evolving digital landscape, Onramp.money’s growth highlights the growing demand for solutions that seamlessly bridge traditional financial systems with the Web3 ecosystem. The platform has reported substantial month-on-month growth of 100-200% in both transactions and user engagement.
Anil Kakani, VP & India Country Head at Algorand Foundation, emphasized their threefold focus on expanding the Web3 developer base, investing in the Web3 startup ecosystem, and forming strategic partnerships with various organizations. He sees India as a hub of innovation and believes in the potential of the Web3 space.
Gaurav Dahake, CEO of Onramp.money, expressed excitement about the upcoming launch of their services in over twenty leading markets by year-end. He highlighted the platform’s mission to simplify the blockchain realm for millions globally and the significance of their partnerships with industry leaders.
Staci Warden, CEO of the Algorand Foundation, stated that the partnership with Onramp.money reinforces Algorand’s commitment to fostering the Indian Web3 ecosystem. It also signifies the expansion of onramp solutions into new markets, making blockchain more accessible to a broader audience.
Algorand, designed by MIT professor Silvio Micali, offers features such as high transaction throughput, immediate finality, near-zero transaction costs, and 24/7 availability, making it a unique player in the blockchain space.
Onramp.money, originating in India, has rapidly established itself as a leading provider of fiat-to-crypto onramps and offramps, focusing on user experience and safety, offering a fast, secure platform for cryptocurrency trading with fiat currencies.
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