Swiss ‘borderless banking’ specialist Aximetria, has extended its remit with support for the stablecoins Gemini USD and EURS in its asset management app.

Aximetria’s extends the range of money offered beyond the traditional currencies. It claims it will support all popular stablecoins in the application by mid-2019.

By enabling business-to-business payments using stablecoins it claims it has lifted a number of restrictions and limitations. Aximetria users can go through a remote (know your customer) verification process and buy or sell global currencies using any bank card. They can also securely store and exchange these for other currencies.

Adding stablecoins is part of the company’s remit to widen access to Africa, Asia and Latin America, regions that have difficulty obtaining global fiat currencies. Previously, legal and infrastructure barriers have restricted their access to global markets. “Our goal is to make daily transactions, payments or savings in stablecoins as easy and convenient for our customers as in any other currency,” said Alex Ermakov, co-founder and CEO at Aximetria.

Since December 2018, Aximetria has selectively entered local markets to cater for specialist demands. In Russia, Eastern Europe’s biggest retail market, it piloted its Aximetria app, whose digital asset management tools are designed to complement and fill a gap in Russia’s high-quality financial services.

Aximetria also claims to have been first to offer a mobile financial service linking debit cards to a digital currency account. Demand was so high that 76 per cent of Aximetria’s Russian users ordered it, said Ermakov.

Aximetria was founded in 2017 and employs 25 people. Its banking service incorporates a physical card and mobile platform which promises fast, safe and easy cross-border payments, remittances and savings. The app supports transactions and exchange in fiat currencies (USD, EUR, RUB, CHF) as well as digital currencies.

by Bill Boyle
IBS Intelligence Senior Editor
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