Ramp, a worldwide provider facilitating the connection between the crypto economy and the traditional financial system, has expanded its services to offer global off-ramping for Worldcoin (WLD) through World App. This marks a significant step, considering the limited capabilities tailored to specific geographical locations and local regulations. World App, recognized as the inaugural Worldcoin wallet, aims to democratize access to digital identity and global financial services.
Creating a More Human-Centric Digital Economy
In its capacity as the global off-ramp provider for WLD, Ramp stands ready to play a crucial role in advancing the Worldcoin project’s goal of providing universal access to the global economy. Through a partnership with Tools for Humanity, the creator of World App, users in eligible regions can effortlessly convert their WLD into fiat currency (available in markets where the WLD token is accepted). This enables them to leverage the potential of their digital assets for everyday transactions, starting with debit and credit cards, and additional payout options are set to be introduced in the future.
Szymon Sypniewicz, CEO at Ramp, expressed pride in providing on- and off-ramping services to millions, facilitating the smooth conversion of WLD into fiat. He said, “We’re incredibly proud to provide our on and off-ramping services to millions of people to enable the seamless conversion of their WLD into fiat. Moreover, we’re excited to contribute to Worldcoin’s mission to create a more accessible, human-centric digital economy, and we’re looking forward to continuing to build on this partnership.”
Tiago Sada, Head of Product at Tools for Humanity and a contributor to the Worldcoin Project, highlighted, “Ramp’s global footprint combined with its consumer-friendly UX, complement the intentional and inclusive design of World App. Bringing the capabilities that Ramp provides to World App and holders of Orb-verified World IDs, helps individuals globally experience increased financial freedom and access.”
Bridging Digital and Traditional Finance
Introduced in July, Worldcoin strives for the utmost inclusivity in the digital economy by offering users a secure, privacy-enhancing, and verified digital representation of their uniqueness and humanity through a World ID. Currently stored on an individual’s mobile device, World IDs can be accessed through the World App, boasting a user base of 4.1 million globally. Notably, 2.4 million individuals from 34 countries possess Orb-verified World IDs.
In the 50 days following the Worldcoin launch, nearly 30 million WLD were claimed, making this amount now eligible for direct off-ramping through Ramp. Previously, Ramp garnered attention as the inaugural global crypto on-ramp provider, facilitating direct purchases of WLD for users in regions where the token is accessible. Building on this milestone, Ramp now facilitates two-way conversions between WLD and fiat currency.
Ramp, as a financial technology company, specializes in building solutions that bridge the crypto economy with the global financial infrastructure. With on- and off-ramp products, Ramp facilitates smooth conversions between cryptocurrencies and fiat currencies for businesses and individuals in over 150 countries. Integrated with major payment methods, including debit and credit cards, bank transfers, Apple Pay, Google Pay, and more, Ramp continues to play a pivotal role in shaping the future of digital finance on a global scale.
Overall, this latest development between Ramp and Worldcoin represents a significant stride towards achieving a more accessible and inclusive global digital economy. By offering seamless on- and off-ramping services, Ramp empowers millions of Worldcoin token holders to navigate the transition between digital and fiat currencies with ease. As Worldcoin continues to gain momentum and Ramp extends its reach in over 150 countries, the impact of this development resonates beyond the realm of cryptocurrency.
