Fintech startup Ramp has a lot going for it when it comes to bringing in remarkable corporate treasury returns. In addition to enjoying a longstanding zero-interest-rate environment and other fintech-friendly monetary policies, the company maintains a low operating burn that has led to a significant reserve of excess cash.
Just as important to Ramp’s success with its corporate treasury, according to Head of Finance Alex Song: Its early (and considerable) investment in stablecoins like USDC.
Citing the reliability of USDC’s cash-backed supply totaling $36 billion as of last November, Song says that Ramp’s fund of the stablecoin enables the company to “take advantage of the upside embedded in the massive growth of the crypto ecosystem, as well as the transparency, rigor, and safety of a well-run, (and most importantly) conservatively-managed financial product.”
Ramp is hardly the only blockchain-backed firm eager to convert U.S. dollars into stablecoin. Circle, Genesis, and Compound have followed a similar track of using USDC to facilitate the movement of money in the new financial ecosystem. In fact, Song explained, Ramp has been working closely with the team behind Circle Yield to deploy their corporate treasury.