Harbour Teams with Velocity Labs to Launch Instant Stablecoin Payment Between EU Banks and Polkadot

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As a seasoned crypto investor with over a decade of experience navigating the ever-evolving landscape of digital assets, I find myself genuinely excited about the recent collaboration between Harbour and Velocity Labs to launch Magic Ramp.

London, UK, December 19th, 2024, Chainwire

In collaboration with Velocity Labs, Harbour unveils the debut of their stablecoin payment system called “Magic Ramp”. This innovative system bridges SEPA Instant payment infrastructure with Polkadot, offering a smooth transition for traditional banking systems into Web3. The result is efficient, cost-effective payment solutions.

Magic Ramp streamlines cross-border Euro transfers, converting them into USDC on the blockchain in under 30 seconds at low costs. In return, funds stored in Web3 wallets can swiftly be transferred to European bank accounts. For the initial six weeks post-launch, these transactions will be fee-free. This collaboration enables developers to create virtual IBANs, which are linked to Polkadot wallet addresses, and connect SEPA Instant payment networks across Europe with the Polkadot Asset Hub.

James Brownlee, CEO of Harbour, expressed that Polkadot’s infrastructure facilitates swift, affordable transfers of stablecoins, which aligns with our aim to make blockchain compatible with conventional banking. This collaboration broadens the creative possibilities for developers focusing on stablecoin-based projects.

Examples of applications could involve seamless entry and exit points (on-ramps and off-ramps) for Web3 participants, digital wallets accepting stablecoins that cater to merchants desiring Euro transactions, handling global payroll, utility bills, and money transfers between countries.

According to Nicolas Arevalo, CEO of Velocity Labs, Harbour, among all the providers they’ve collaborated with for on-ramps, is exceptional due to its unique ability to combine the ease of on-ramp services with the speed and affordability typically associated with Centralized Exchange (CEX) on-ramping. This integration makes it simple and nearly cost-free to access stablecoins within the Polkadot network.

Harbor’s Magic Ramp streamlines the process for conventional financial institutions to connect with Web3, addressing real-world payment issues and adapting to changing market demands.

To find out more, users can explore Harbour.fi or test the Magic Ramp by visiting this link: (For further information, users can check out Harbour.fi or utilize the Magic Ramp at the following URL: )

For media inquiries, users may contact Jonathan Duran at Jonathan@Distractive.xyz

About Harbour

As a forward-thinking cryptocurrency investor, I’ve recently come across Harbour.fi – an exceptional platform that seamlessly connects conventional banking systems with blockchain infrastructure using Stablecoins. Based in the UK with an additional location in Poland within the EU, Harbour is making waves by merging traditional finance and cutting-edge cryptocurrency technology.

About Velocity Labs

Velocity Labs plays a significant role in the development of Polkadot, aiming to make it the leading platform for Decentralized Finance (DeFi) construction within the Web3 environment. Working closely as strategic partners, we equip builders and infrastructure providers with a wide range of resources including business development guidance, marketing strategies, engineering assistance, and product strategy support.

Contact

Comms & PR manager
Jonathan Duran
Distractive
jonathan@distractive.xyz

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2024-12-19 18:13