Crypto-centric fintech firm Ramp reportedly secured $70 million in venture capital, reinforcing its pledge to carry on the design of a unified payment experience for digital assets. 

Specifically, the Series B investment round was reportedly co-led by venture companies Mubadala Capital and Korelya Capital, per Ramp. 

Ramp successfully reeled in $53 million via a Series A funding round that concluded in December last year, which helped its overall capital raise hitting the approximate $123 million bechmark.

Ramp’s management further claimed that the freshly acquired funds would be devoted to enhancing its product line, widening the scope to cover new locations as well as amplifying the number of fiat currencies and payment methods offered.

Ramp’s main clientele are businesses and blockchain protocols that share a desire to provide users a more improved experience when transacting with cryptocurrencies. 

Ramp offers a noncustodial, full-stack payment infrastructure that, upon deployment, makes it possible for users purchase crypto assets inside decentralized applications and websites. 

The firm reportedly compares its services to PayPal and Stripe in a sense that estalblishments are able to utilize Ramp to offer users a “unified purchase experience” across e-commerce platforms.

Crypto payments infrastructure is viewed to be a crucial part regarding its assistance to the emergence of Web3, a broad umbrella term that describes a few future iteration of the internet that encompasses the value of decentralization. 

Several within the blockchain community share a belief that unlocking the power of crypto payments is a crucial task to promote the mass adoption of the underlying technology.