Ramp Network now supports real-time MXN payments via the SPEI payment system. Users can sell cryptocurrencies and receive funds into their bank account within 30 seconds. SPEI offers lower fees, operates 24/7, and powers crypto-to-fiat trading in Mexico.
Ramp Network, a leading financial technology company, announced that it is extending its crypto-to-fiat off-ramp support to the Mexican Peso (MXN) through the SPEI payment system.
This development will allow users in Mexico to receive real-time payments directly to their local bank accounts 24/7.
Ramp Network integrates SPEI
SPEI (Sistema de Pagos Electrónicos Interbancarios) is a robust real-time payment system that connects all major banks in Mexico, enabling fast and secure money transfers within seconds.
By integrating SPEI, Ramp Network provides a streamlined solution for users in Mexico to sell their cryptocurrencies and instantly convert them to fiat, significantly improving the user experience.
Mexico has emerged as a key market for Lamp Network, with the country ranked 16th in the world in the latest Chainalysis Cryptocurrency Adoption Index and among the top 20 countries in terms of cryptocurrency trading volume.
Notably, approximately 14% of Mexico's population currently owns cryptocurrencies and 40% of local businesses are exploring the integration of blockchain technology, demonstrating a vibrant landscape of fintech innovation.
Szymon Sypniewicz, CEO of Ramp Network, expressed pride in the integration of SPEI, saying, “Mexicans can now convert their cryptocurrencies to fiat in seconds with lower fees and reduced friction. ” he said.
The service's flat fee of just 2.9% is significantly lower than traditional methods, minimizing transaction-related issues and providing a reliable payment option that operates year-round.
Users can easily start trading by selecting the desired cryptocurrency amount, selecting Mexico as the country, and choosing SPEI as the payment method. After entering their bank details, users can receive Mexican Pesos in their bank account within 30 seconds.
As part of its mission to provide localized services in Latin America, Ramp Network plans to further enhance its services by introducing SPEI on-ramp transactions in the near future, expanding opportunities for both local Web3 developers and global partners. is.
