- Ramp Network now supports real-time MXN payments through the SPEI payment system.
- Users can sell cryptocurrency and receive funds into their bank account in less than 30 seconds.
- SPEI offers lower fees and operates 24/7, improving cryptocurrency-to-fiat trading in Mexico.
Ramp Network, a leading financial technology company, announced the expansion of its cryptocurrency-to-fiat off-ramp support to include the Mexican Peso (MXN) through the SPEI payment system.
This development will allow Mexican users to receive real-time payments directly into their local bank accounts, which are available 24/7.
Ramp Network integrates SPEI.
SPEI (Sistema de Pagos Electrónicos Interbancarios) is a powerful real-time payment system that connects all major Mexican banks, enabling fast and secure transfers within seconds.
By integrating SPEI, Ramp Network provides an efficient solution for Mexican users to sell their cryptocurrencies and instantly convert them to fiat, significantly improving the user experience.
Mexico has emerged as a key market for Ramp Network, ranking 16th globally in the latest Chainalytic Cryptocurrency Adoption Index and is one of the top 20 countries by cryptocurrency trading volume. In particular, approximately 14% of Mexico’s population currently owns cryptocurrency, and 40% of local businesses are exploring blockchain technology integration, demonstrating a vibrant environment for fintech innovation.
Szymon Sypniewicz, CEO of Ramp Network, expressed pride in the SPEI integration, saying, “Now Mexicans can convert their cryptocurrency to fiat in seconds with lower fees and less friction.” The service charges a flat 2.9% fee, 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 selecting SPEI as the payment method. Users can receive MXN in their bank account within 30 seconds after entering their banking information.
As part of its mission to provide localized services to Latin America, Ramp Network plans to introduce SPEI onramp transactions in the near future, further strengthening its offering and expanding opportunities for both local Web3 developers and global partners. This expansion is an important step in increasing accessibility to cryptocurrencies in a region where demand for cryptocurrencies is growing.