- According to the business, the off-ramp solution supports 38 different cryptocurrencies.
- The new desktop browser feature is powered by crypto on-ramp company Ramp Network.
On Friday, Brave, a web browser with an emphasis on privacy, announced the launch of a new feature that enables users to trade their crypto for fiat currencies such as US dollars, Euros, or British pounds without leaving the Brave Wallet.
Since major cryptocurrency exchanges misused client funds and finally halted payments, the practice of self-custody gained traction again. Brave has announced a new desktop browser feature powered by crypto on-ramp company Ramp Network, with the stated goal of making crypto self-custody simpler.
Banking on Self-custody
It is more critical than ever to provide safe and easy-to-manage self-custody, the business said in a post announcing the upgrade, citing recent occurrences in which centralized exchanges mistreated consumer assets.
Users in certain countries may now convert their supported cryptocurrencies including Brave’s own Basic Attention Token (BAT) into fiat currency, the company said. According to the business, the off-ramp solution supports 38 different cryptocurrencies.
The company further added:
“While self-custody has grown in popularity over the past decade, the most common way to hold digital currency and tokens remains with centralized exchanges. We expect to see that shift with innovations in user experience, like the one we are releasing today.”
Brave, a web browser released in 2016, has quickly become a favorite among privacy-conscious users because of its built-in protections against online adverts and website trackers. The Basic Attention Token, implemented by Brave in 2017, is a kind of compensation offered to users in exchange for their consent to the browser displaying advertising while they browse the web.
Earlier, in May of 2022, Brave announced a partnership with Ramp that would only let users purchase cryptocurrencies with fiat cash directly through the Brave Wallet extension for desktop and mobile browsers.