According to an official press release, the Algorand Foundation announces an investment by Algorand Ventures in Onramp.money, a fiat-to-crypto onramp solution originating from India. This is believed to help in the worldwide adoption of Web3.0 solutions.
“Centered around the principle of ‘In Bharat for Bharat’, we expect to expand the Web3.0 developer community, fostering the burgeoning Web3.0 startup arena through mentorship and investments, and forging meaningful alliances with established entities ranging from non-profit organizations to academia and government bodies,” Anil Kakani, VP, India Country Head, Algorand Foundation, explained.
It is believed that Onramp.money, a fiat-to-crypto onramp and offramp solution provider, has recently expanded its services into several jurisdictions across the globe, including Vietnam, the UAE, Turkey, and Mexico.
Furthermore, “The partnership with Onramp.money is strategically important in that it can help Algorand’s aim to grow the Indian Web3.0 ecosystem while expanding onramp solutions to new markets and lowering the barrier to entry into the blockchain ecosystem,” Staci Warden, CEO, Algorand Foundation, concluded.
