Bank Accounts in Crypto Are Now Real: Meet the New BaaS Solution from Mercuryo

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Digital asset organisations, such as exchanges, wallet providers, NFT services, DeFi protocols, DAOs, and others can integrate the BaaS solution into their ecosystems and open full-fledged bank accounts.

Metadata

Provider:

PR Newswire

Retrieved on:

Friday, March 10, 2023

Information

Tags:

Crypto, Digital, AML, Dame Alice Owen's School, KYC, NFT, SEPA, IBAN, Ministry of National Education (France), As a service, Decentralized finance, Cryptocurrency, EU

Geotags:

UNITED KINGDOM, ENGLAND, UNITED STATES OF AMERICA, UK, LONDON

Organisation:

MERCURYO

Summary

Key Points:

Digital asset organisations, such as exchanges, wallet providers, NFT services, DeFi protocols, DAOs, and others can integrate the BaaS solution into their ecosystems and open full-fledged bank accounts.
Doing so enables their customers to seamlessly store, transfer, spend, and convert fiat to crypto within a single platform.
As the first mover in this field, Mercuryo has identified this challenge and moved to provide an effective solution with its new BaaS product .
"Mercuryo seeks to become a one-stop-shop for both conventional and crypto-native platforms that seek to seamlessly integrate financial infrastructure for crypto and fiat payments alike.

Bank Accounts in Crypto Are Now Real: Meet the New BaaS Solution from Mercuryo

LONDON, March 10, 2023 /PRNewswire/ -- Global payments infrastructure platform Mercuryo introduces the first Banking-as-a-Service product tailored to suit the needs of crypto market participants. Digital asset organisations, such as exchanges, wallet providers, NFT services, DeFi protocols, DAOs, and others can integrate the BaaS solution into their ecosystems and open full-fledged bank accounts. Doing so enables their customers to seamlessly store, transfer, spend, and convert fiat to crypto within a single platform.

BaaS is among the newest financial trends. Crypto organisations have long been struggling with the integration of fiat payments into their platforms. As this industry is still young and far from perfect, it's difficult for CeFi and DeFi projects to integrate and work directly with traditional finance players.

As the first mover in this field, Mercuryo has identified this challenge and moved to provide an effective solution with its new BaaS product. Creating a seamless bridge between crypto and traditional finance, the integration empowers cryptocurrency users in the UK and the EU to access instant SEPA transfers via their own IBAN accounts for buying, selling, and storing digital assets with no to minimal commissions.

A major advantage of this product is that companies can offer banking products to their clients through integrations and without the trouble of having to receive their own licences. Instead, Mercuryo is responsible for handling all KYC and AML procedures.

"Mercuryo seeks to become a one-stop-shop for both conventional and crypto-native platforms that seek to seamlessly integrate financial infrastructure for crypto and fiat payments alike. Introduction of our BaaS product is a major step in bringing the two worlds together, and we are already seeing great demand for it among our partners and beyond," says Petr Kozyakov, Mercuryo's co-founder and CEO.

About Mercuryo

Mercuryo is a global payments infrastructure platform, reinventing the ease of making payments by providing businesses from both the fiat and crypto worlds with a wide range of financial services and products, accessible through single API integration. Since its inception in 2018, Mercuryo has been developing a holistic fintech platform with a wide array of products. The company secured partnerships with over 200 crypto players, working with leading industry names such as MetaMask, Trust Wallet, Ledger, Trezor, 1inch, Gate.io, Nexo, OKX, Bitcoin.com and Bybit.

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SOURCE Mercuryo