According to CoinDesk, crypto payment startup Ramp Network has opened a local entity in Brazil to expand its business into Latin America. It is reported that the company provides payment infrastructure connecting cryptocurrencies and traditional finance.
The company will provide software development kits (SDKs) to customers in Brazil, including Web2 Enterprise, Crypto Wallet, and Web3 Games, enabling their users to purchase cryptocurrencies through an end-to-end, non-custodial on-ramp and provide a crypto-to-fiat off-ramp.
Brazil ranks seventh on the list of countries with the highest cryptocurrency adoption, while Latin America as a region accounted for 9.1% of the global cryptocurrency market capitalization last year, according to Chainalysis.