Crypto company Ramp launches customer registration in Brazil without authentication

Crypto payments company Ramp is launching another initiative to make it easier for consumers to start buying and selling digital assets. This policy, initially only available in Brazil, will help users of all of Ramp’s integrated platforms, including MetaMask, TrustWallet, BitPay and Sorare, among others. To make it easier for people to sign up and start trading cryptocurrencies, Ramp is launching a new program where potential customers only need to provide a tax identification number and a selfie. The company believes that by removing the need for potential customers to send high-quality photos of their government IDs, it will get more people to sign up. Ramp is initially launching the service in Brazil, South America's largest economy. Jose Jimenez-Mancha, chief commercial officer at Ramp, said: “By lowering the barrier to entry, documentless KYC can play a key role in driving mass adoption of digital currencies. We are launching documentless KYC in Brazil first and will expand to other countries in 2024. area." Ramp’s KYC policy update follows its integration with Pix, Brazil’s national digital payments platform. The move, announced in September last year, is also aimed at simplifying the onboarding process for customers in the country of more than 200 million people. Pix, which allows people to buy goods and send money to each other using a smartphone app, is used by most Brazilians. The Brazilian government launched Pix in 2021.