Free onramp.
Where we stand, what I'd do, and four calls that need to come from you.
Free 1:1 onramp into stablecoin pulls users into the wallet. The swap is where we earn.
The hook is the consumer message everyone in the funnel sees. Crypto-to-crypto swap margin downstream covers the rail cost and then some. Same play Revolut runs.
Almost there. Product side is built. Marketing and rollout are not.
Every market we push needs both legs.
Cheap onramp and active swaps. Without both, the unit economics fall apart and the message stops being honest. UK, EU and US each sit in a different place.
UK has both legs. EU has rails but no swaps. US has swaps but no cheap rail.
| Market | Fiat leg · onramp cost | Swap leg · monetization |
|---|---|---|
| United KingdomUK |
Cheap enough
Rails priced low enough to support free 1:1 today. |
Live
In-app swaps running. Both legs already in place. |
| EuropeEU |
SEPA cheap
Rail cost is not the issue. Same 1:1 economics work. |
Blocked
Third-party regulatory dependency. No clear date for when swaps unblock. Loss-leader payback period unclear. |
| United StatesUS |
ACH expensive + half-on
Not fully operational. Meaningfully more expensive than SEPA or UK rails. |
Active, growing fast
Swaps already live in the US and growing fast. Downstream margin is there to absorb ACH on the funnel. |
Launch on all three fronts. Talk loud about it.
Going UK only undercuts the play. Our marketing is global by definition, and announcing this on one of our smaller markets does not carry the weight needed to land the message.
Ship yesterday. Both legs already work. Turn the free 1:1 onramp on, lead with it across product and socials.
Prioritize getting ACH operational. Subsidize from day one. Don't wait for ACH to get cheaper. The moment we can operationalize it, eat the cost. Swap margin in the US is already growing fast and carries the blended funnel.
Launch the free 1:1 onramp now, even before swaps clear. SEPA is cheap, we can stand the loss-leader window. Be ready to go louder the day the regulator unblocks swaps.
Find cheaper banking rails before this lever scales.
Already started. Q2 BD prioritization on alternative providers across UK, EU and US. Goal: have replacements ready, so we can either negotiate current providers down on marginal cost, or switch outright if they won't move and this play takes off.
These four are yours. Marketing and BD execute once they land.
Which markets get the green light. My recommendation: all three. UK now, US in parallel, EU on the onramp leg only until swaps clear.
StrategicPrioritize getting US ACH operational. Without it the US story doesn't ship and the global narrative leans on UK alone.
SequencingSubsidize ACH from day one rather than wait for it to get cheaper. Swap margin can carry the cost on the blended funnel. We trade short-term P&L for the global launch story.
P&LMandate marketing to push this hard. Front and center of what the Ramp Network wallet app offers. Not a feature line. The headline.
MandateGive me thirty minutes this week.
Lock these four calls and the team can move on all three fronts in parallel.