đź’ł Payment Platform for Blockchain Accounts
How Ansible Labs acts as a bridge between crypto wallets and bank accounts
Today's Highlights
- Ansible Labs - simplifying transactions between blockchain and bank accounts
- This Week On BuzzBelow - a recap on this week's topics.
- In Other News - a few interesting developments we're tracking.
Ansible Labs - simplifying transactions between blockchain and bank accounts
Ansible Labs is building a payments platform for blockchain accounts. The company simplifies and accelerates money movement between blockchain and bank accounts that demystifies the language and complexity of web3, enabling users to move money on or off-chain simply as topping up or cashing out of their favorite digital wallet. Â
The Web3 on-boarding process, also called an "on-ramp," requires a user to set up a cryptocurrency wallet and send fiat currency to that wallet in order to purchase the crypto needed to interact with non-fungible token (NFT) marketplaces, decentralized finance (DeFi) platforms and other blockchain-based programs. Withdrawing the crypto back into fiat is called an off-ramp.
While both on-ramp and off-ramp processes come with technical and regulatory complexities, Ansible Labs sees off-ramps as an underserved market. The first product from Ansible Labs is Beam, an off-ramp product with multi-chain support for non-custodial wallets that can be used directly through a Web3 app with bank-grade compliance. After the Beam is released Ansible then plans to expand the capabilities of the product so that Web3 companies can directly integrate the customizable off-ramp product into their products. Â
Ansible Labs has raised a total of $7M in funding. Daniel Mottice and Matthew Vanhouten are the co-founders of Ansible labs.
This Week on BuzzBelow
Sukanya Ganesh
Srijan Bijjam
Sukanya Ganesh
Srijan Bijjam
In Other News
Shaurya Malwa
Christian Encila