UK-based crypto infrastructure firm Ramp Network is establishing its European base in Ireland, joining a growing number of cryptocurrency firms favoring the country for their headquarters. Steven Eisenhauer, Ramp’s chief risk and compliance officer, emphasized Ireland's appeal due to its progressive regulatory environment, crucial for building consumer trust in the crypto sector. Ireland, despite its small size, hosts about 12 registered virtual asset service providers and is a top choice alongside France, Germany, and Belgium for firms preparing for the EU’s Markets in Crypto-Assets Regulation (MiCA).
Ramp, a fintech startup that facilitates the conversion between fiat and crypto currencies globally, praised the Central Bank of Ireland (CBI) for its balanced approach to regulation, combining business friendliness with integrity. The CBI's hiring of crypto-savvy personnel has improved its understanding of the industry. Despite this positive sentiment, some firms like stablecoin issuer Circle have relocated from Ireland to the US. Nonetheless, Ireland's favorable business climate and low corporate tax rate continue to attract major crypto firms like Coinbase, which chose Ireland for its EU operations under MiCA regulations.