Ramp Network, a financial technology firm developing payment rails that link cryptocurrency to the global financial system, announces the launch of its groundbreaking document-free verification procedure. Customers in Brazil may currently utilize this feature to purchase cryptocurrency, and it will soon be available to a larger audience as well.
To ensure near-instant onboarding and a pleasant transaction experience, Ramp has introduced a new document-free verification feature. This means that qualified customers may now establish their identities in seconds rather than minutes, just by supplying their verified national tax or ID number.
When purchasing cryptocurrency from most providers, customers are often asked to produce copies of their identification papers. This may be a pain because of the outdated methods of verifying identity, which impact both the transaction speed and the user experience as a whole. For this reason, Ramp has launched a revolutionary function that allows customers to purchase cryptocurrency up to four times quicker while still guaranteeing complete security and regulatory compliance.
In Brazil, the first nation to implement this feature, qualified individuals may start the verification process by entering their CPF (taxpayer registration) number and uploading a selfie. After that, in a flash, the system checks the user’s identity by comparing their details to a government database, guaranteeing a safe and compliant procedure.
With this upgrade, Ramp is staying true to its purpose of making its on- and off-ramps as simple to use as possible, with the goal of helping millions of new users onto Web3. Ramp, a frontrunner among crypto’s fintech infrastructure providers, lets customers buy cryptocurrencies using fiat and works with dozens of local currencies throughout the globe. Ramp provides a convenient solution for users to purchase cryptocurrency without leaving the app by integrating with any third-party application using a straightforward API.
Szymon Sypniewicz, CEO and co-founder of Ramp stated:
“At Ramp, we want Web3 onboarding to be not only secure but also smooth and rapid. That’s why we’ve implemented this innovative feature, reducing the verification process from minutes to seconds, and eliminating the need for cumbersome physical documents for such transactions. This move further reinforces our commitment to making crypto effortless.”
Ramp intends to roll out document-free verification to more markets in the near future. The Brazilian launch fits in well with Ramp’s support for Pix, the leading payments gateway in Brazil, as well as popular cards and the Brazilian real (BRL). Ramp established a Brazilian subsidiary last year after seeing the country as a promising development market. For Ramp to roll out its revolutionary document-free capabilities to other nations, Brazil is an obvious place to begin.
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- Source: https://thenewscrypto.com/ramp-launches-document-free-verification-for-crypto-purchases-debuting-in-brazil/
