Gnosis Chain, a leading blockchain platform, has unveiled uRamp. It is a revolutionary solution designed to facilitate seamless on and off-ramping for users within the Gnosis Chain ecosystem. Gnosis Pay was launched at the ETHCC last year, and the company shared its vision and roadmap for Gnosis 3.0. It indicates its commitment to improving its payment network.
We are proud to unveil uRamp, a groundbreaking on & off ramping solution for the Gnosis Chain ecosystem!
uRamp leverages @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
uRamp by Gnosis Simplifies ERC20 Transfers and Fiat Exchange
Gnosis aims to be the best payment network. To do this, it has worked hard to provide excellent connections to traditional payment systems, the best stablecoin exchange liquidity, and an easy-to-pay environment. Gnosis wants to promote peer-to-peer payments and open financial rails in honor of Bitcoin creator Satoshi Nakamoto.
uRamp was a major step toward this vision. uRamp, powered by Gnosis Chain, simplifies ERC20 token transfers between bank accounts. It allows fiat currency on and off. Gnosis Venture Studios created uRamp to be 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 onramp to Gnosis Chain, and uRamp is now live. Because Gnosis understands the importance of accessibility, they proudly offer uRamp to improve the ecosystem experience for users.
Besides fiat onramps, uRamp allows users trade EVM-compatible assets for fiat currency and vice versa. Because of these features and its user-centric design, uRamp is a cutting-edge solution that combines web2 platform usability with web3 technology reliability.
Gnosis Co-founder Advocates Simplified Fiat-to-Blockchain Conversion
Stefan George, Gnosis co-founder, suggested simplifying fiat-to-on-chain asset conversion. He emphasized uRamp’s importance to Gnosis’s goal of 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 crypto adoption. In partnership with Monerium, uRamp uses EURe, the regulated euro stablecoin, and compliant liquidity to make the market easier to use, especially for EUR.
Additionally, Monerium and BootNode, Gnosis’ longtime engineering partner, helped create uRamp. These partnerships have helped uRamp grow from a Proof-of-Concept to a fully functional product for Gnosis ecosystem users.
Traditional ramping models use expensive middlemen or centralized exchanges. However, uRamp’s lower fee model makes asset conversion cheaper. The uRamp dApp makes Web3 IBANs for easier asset transfers between bank accounts and Web3 wallets.