Gnosis Chain, a leading blockchain platform, has unveiled uRamp. It is a revolutionary solution designed to enable seamless entry and exit for users within the Gnosis Chain ecosystem. Gnosis Pay was launched at ETHCC last year and the company shared its vision and roadmap for Gnosis 3.0. It signals its commitment to improving its payment network.
We are proud to unveil uRamp, a groundbreaking on-ramp solution for the Gnosis Chain ecosystem!
uRamp uses @monerium’s regulated euro stablecoin and @lifiprotocol’s liquidity aggregation technology to seamlessly move euros from the bank to the blockchain and back. pic.twitter.com/9xHnhs5vwB
— Gnosis Chain 🦉 (@gnosischain) March 18, 2024
Gnosis’s uRamp simplifies ERC20 transfers and Fiat Exchange
Gnosis strives to be the best payment network. To do this, it has worked hard to provide excellent connections to traditional payment systems, the best stable liquidity on the exchange and an easy-to-pay environment. Gnosis aims to promote peer-to-peer payments and open financial rails in honor of Bitcoin creator Satoshi Nakamoto.
uRamp was a big step towards this vision. uRamp, powered by Gnosis Chain, simplifies ERC20 token transfers between bank accounts. Allows you to enable and disable fiat currency. Gnosis Venture Studios created uRamp as the next ramping solution. Users will find it simple, cheap, and compatible with on-chain and off-chain environments.
The community has long wanted a fiat ramp to Gnosis Chain, and uRamp is now live. Because Gnosis understands the importance of accessibility, they proudly offer uRamp to enhance the ecosystem experience for users.
In addition to fiat onramps, uRamp allows users to trade EVM-compatible assets for fiat currency and vice versa. Because of these features and its user-centered design, uRamp is an advanced solution that combines the usability of the web2 platform with the reliability of web3 technology.
Gnosis co-founder advocates simplified conversion from Fiat to Blockchain
Stefan George, co-founder of Gnosis, suggested simplifying the conversion from fiat to on-chain assets. He emphasized the importance of uRamp to Gnosis’ purpose: secure, open, community-owned global payments. Gnosis hopes to simplify Web3 payments with uRamp, saving users time and money.
Stefan and Gísli Kristjánsson, CTO of Monerium, agreed that seamless asset conversion is crucial for accelerating cryptocurrency adoption. In partnership with Monerium, uRamp uses EURe, the regulated euro stablecoin, and compliant liquidity to make the market more user-friendly, especially for the EUR.
Additionally, Monerium and BootNode, Gnosis’s long-time technical partner, contributed to the creation of uRamp. These partnerships have helped uRamp grow from a Proof-of-Concept to a fully functional product for users of the Gnosis ecosystem.
Traditional ramping models use expensive intermediaries or centralized exchanges. However, uRamp’s lower fee model makes asset conversion cheaper. The uRamp dApp creates Web3 IBANs for easier asset transfers between bank accounts and Web3 wallets.
