What is Fiat On-Ramp?

A fiat on-ramp is an exchange or similar service that allows for fiat currency to be deposited and exchanged or traded for digital assets like coins, tokens, and cryptocurrencies. On-ramps are a software-based service built by a financial service provider, usually with a banking license to legally operate in their specific jurisdiction. A fiat on-ramp is the first step in exchanging or trading cryptocurrencies for many users who first purchase digital assets like bitcoin (BTC) and ether (ETH) with fiat currency.