The Ramp Network (RAMP), a fintech company focused on connecting the crypto ecosystem with traditional finance, partnered with The Open Network (TON) as part of the effort to turn Telegram, a popular messaging app, into a “Web3 super app”, per the latest information shared with Finbold.
The partnership is aimed at building an on-ramp that would enable Telegram users to explore the world of Web3 directly through the app and easily purchase Toncoin (TON) and other cryptocurrencies using any payment method they prefer.
Indeed, Ramp Network’s on-ramp solutions support numerous popular payment methods, including credit and debit cards, bank transfers, Apple Pay, Google Pay, and also PIX, a system widely used in Brazil.
Picks for you
The partnership will also allow developers to benefit by integrating the on-ramp into their application, thus gaining better access to Telegram’s 800 million daily active users.
TON and Ramp express optimism about the partnership
Daniel Yang, Global Business Development Lead at TON Foundation, stressed the benefits of borderless payments and the need to ensure a seamless onboarding process to better foster mass Web3 adoption:
The launch of this new on-ramp for TON’s ecosystem will build upon the wide range of existing options, enabling additional users to purchase Toncoin and discover the unique benefits of TON ecosystems’ near instantaneous, borderless transactions. Ensuring that the onboarding process is seamless and that options are widely available is crucial to our commitment to accelerating the mass adoption of Web3 technology by non-native users.
Szymon Sypniewicz, CEO at Ramp, also expressed his excitement about the partnership, highlighting its versatility and flexibility:
We’re thrilled to team up with TON and open up the doors to Web3 for hundreds of millions of Telegram users. By allowing users globally to purchase TON using their local currencies and preferred payment method, we’re working with TON on a joint mission to build a decentralized future for everyone.
TON’s rapid rise
Since its founding in Switzerland in early September 2023, The Open Network Foundation has been exceptionally active when it comes to building new partnerships and reaching new milestones. For example, TON officially became the world’s fastest blockchain in November of this year.
In terms of its partnerships, there has been a recent trend toward social platforms, and on Tuesday, December 19, TON revealed its involvement with RepubliK as part of the effort to create a familiar, welcoming, and innovative social media platform geared toward helping users familiar with Web2 make the transition to Web3.
