Ramp Network, a European-founded fintech company operating under a MiCA license, has launched its Multichain Wallet and Rewards program across all European Union countries. This expansion makes Ramp Network’s self-custodial crypto account available to EU users, allowing them to buy, sell, hold, and send major digital assets like Bitcoin and Ethereum within the Ramp Network app.
The Multichain Wallet is self-custodial and secured by passkeys, offering users control over their assets with the ability to export private keys. This approach aims to combine the user-friendliness of mainstream fintech applications with the ownership model of a self-custodial wallet. A single identity verification is required for access to these services.
Complementing the wallet, the Ramp Network Rewards program incentivizes users with USDC for completing in-app actions. However, cross-chain swap functionalities are not included in the EU offering at the time of launch.
Ramp Network’s regulated activities in the EU, such as buying and selling crypto, are conducted through Ramp Swaps (Ireland) Limited, which is regulated by the Central Bank of Ireland. The self-custodial wallet service operates separately and does not require authorization from the Central Bank of Ireland. Consequently, the self-custodial wallet service is not subject to the consumer protection rules or statutory compensation schemes overseen by the Central Bank of Ireland.
Established in 2017, Ramp Network operates in over 150 countries. The rollout of its comprehensive wallet product in the EU marks a significant step in providing its services within a key regulatory jurisdiction. The company has stated that the exact list of ‘other supported assets’ beyond Bitcoin and Ethereum, and the specific actions that qualify for the rewards program, are details that may be further clarified. Future developments for the EU market may include the introduction of cross-chain swaps and additional features.
Why This Matters
The materials describe a narrow update: Ramp Network, a MiCA-licensed fintech company founded in Europe, has made its self-custodial Multichain Wallet and Rewards program available to all EU users. The exact list of ‘other supported assets’ beyond Bitcoin and Ethereum.
Broader Context
Source materials place the factual news in this context: The European-founded, MiCA-licensed fintech Ramp Network expands its full wallet product to its home market, giving EU users a self-custodial, everyday crypto account with a built-in rewards program.
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