There is a long-standing limitation of self-custodial cryptocurrency products, which is the requirement to rely on third-party providers for core actions such as buying, swapping, and cashing out. Ramp Network, a global crypto infrastructure provider that enables seamless access between fiat and digital assets, has today announced the launch of a multichain wallet that is designed to address this limitation.
Throughout its history, Ramp Network has served as the infrastructure layer that enables cryptocurrency purchases to be made inside partner programs such as MetaMask and Trust Wallet. This network has provided services to more than 10 million customers all over the world. With the introduction of Ramp Network Wallet, the business is integrating that infrastructure straight into a product that is aimed at the end user.
Consumers are able to purchase, sell, trade, and pay out digital assets inside a single application thanks to the wallet. This eliminates the need for consumers to depend on third-party providers or external interfaces for fundamental tasks.
Self-custodial wallets have always relied on third-party services for critical functionality, despite the fact that they provide users control over their assets. Because of this, user experiences are often fragmented, identity verification is performed many times, and various interfaces are created. In spite of the fact that the majority of self-custodial wallets are primarily concerned with key management, they often depend on a number of third-party providers for fundamental functionality such as payments, swaps, and withdrawals.
These features are integrated into a single platform via Ramp Network’s wallet, which enables users to authenticate their identity just once and conduct transactions across all supported networks without the need for extra onboarding stages.
From launch, the wallet supports users to store assets from eight other networks, including Arbitrum, Base, Optimism, and Solana, in addition to supporting Bitcoin and Ethereum. These networks account for a significant portion of the total valuation of the cryptocurrency market worldwide and the assets that are regularly held.
“Every self-custodial wallet has the same problem nobody talks about,” said Przemek Kowalczyk, CEO and co-founder of Ramp Network. “The moment you try to actually do something, buy, swap, or cash out, you get sent to a third party you’ve never heard of and asked to verify yourself again. We built the infrastructure ourselves, so we never have to do that. One account, every chain, your keys.”
The end result is a self-custodial experience that, in terms of functionality, is more comparable to that of centralized systems, while at the same time allowing users to retain complete control over their assets. Existing users of the Ramp Network are able to use the wallet to utilize their existing credentials, with identity verification and payment methods being carried over from their previous accounts.
On-ramp, off-ramp, and cross-chain execution are all provided by Ramp Network, which is responsible for the building and operation of the basic infrastructure that powers the wallet. Users are able to conduct transactions across supported networks inside a single application, eliminating the need for them to depend on external bridges or service providers.
In addition to managing balances, trading, and cash access in a single location, the wallet functions as a consolidated account that is accessible across many chains. As a core balance, it leverages USDC on Base for transactions like as transfers, payments, and activities inside the app.
A self-custodial arrangement that is protected by passkeys and includes the capability to export keys is used to ensure that all assets continue to be in the control of the user.
With the exception of the European Union, the wallet is accessible all around the world. It is anticipated that increased regional availability will occur as regulatory circumstances continue to develop. In future updates, Ramp Network intends to broaden the range of assets that are supported and the use of blockchain integrations.
With this launch, the business has begun the first step of its larger multichain strategy, which is centered on easing the process of self-custody while still preserving user ownership over digital assets.
Ramp Network is a finance technology firm that operates on a worldwide scale and makes it simple for anybody to purchase, sell, trade, exchange, pay, and save using stablecoins and cryptocurrency. Through the combination of a self-custodial wallet app and trusted on- and off-ramp infrastructure, the firm, which was established in 2017, gives millions of people all over the globe the ability to safely manage their digital assets. Built with global access in mind, Ramp Network continues to increase its local service offerings on a daily basis and is now accessible in more than 150 countries.
*Geo restrictions apply. For EU customers: Ramp Swaps (Ireland) Limited trading as Ramp Network is regulated by the Central Bank of Ireland.
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