Ramp Network extends crypto-to-fiat support for real-time MXN payments via Spei

• Ramp Network now supports MXN payments in real time via the Spei payment system.
• user can sell crypto and receive money on your bank account within 30 seconds.
• Spei offers lower fees and is in operation around the clock, which improves crypto-to-fiat transactions in Mexico.

ramp Network, a leading financial technology company, has announced the expansion of its crypto-to-fiat-off-ramp support to include the Mexican peso (MXN) via the Spei payment system.

This development enables users in Mexico to get real-time payments directly to their local bank accounts that are available around the clock.

Ramp Network integrated Spei

Spei, or Sistema de Pagos Electrónicos Interbancarios, is a robust real-time payment system that connects all large Mexican banks and enables quick and safe transfers within seconds.

By integrating Spei, Ramp Network Mexican users offers an optimized solution for the sale of their cryptocurrencies and their immediate conversion into FIAT currency, which significantly improves the user experience.

Since Mexico is developing into a key market for Ramp Network, the country in the latest Chainalysis crypto-acceptor index is 16th place and is one of the 20 countries with the highest crypto transaction volume.

It is remarkable that around 14 % of the Mexican population now have cryptocurrencies and 40 % of local companies research the integration of blockchain technology, which indicates a living landscape for fintech innovations.

Szymon SYPNIEWICZ, CEO of Ramp Network, was proud of the integration of Spei and explained: "Now people in Mexico can now convert their crypto into Fiat in a matter of seconds, with lower fees and less friction."

The service charges a flat fee of only 2.9 %, which is significantly lower than with conventional methods, which minimizes transaction -related problems and a reliable payout option is provided that works all year round.

Users can easily initiate a transaction by selecting the desired cryptocurrency amount, selecting Mexico as your country and choosing Spei as a payout method. After entering your bank details, users can expect MXN to receive MXN within 30 seconds or less on your bank account.

As part of his mission to provide localized services in Latin America, Ramp Network plans to further improve its offer by introducing Spei-on-Ramp transactions in the near future and thus expanding the opportunities for local web3 developers and for global partners.