Bitfinex collaborates with OpenPayd to enable SEPA payments

By Joy Dumasia

Bitfinex, a state-of-the-art digital token trading platform, in collaboration with fiat on-ramp services provider OpenPayd, is enabling real-time Single Euro Payments Area (SEPA) payments for euro-denominated deposits and withdrawals.  

The introduction of SEPA payments provides additional options for Bitfinex customers to deploy euros onto the platform. Through the new collaboration, customers will have the ability to pay in and pay out from their accounts instantly. The OpenPayd service enables the automation of critical back-end functions such as reconciliation and has enabled businesses to scale operations across Europe.  

Paolo Ardoino, CTO at Bitfinex, said: “We chose to work with OpenPayd because of its ability to help us access SEPA real-time payment rails and the speed of integration its API enables. This collaboration forms part of our continued efforts to provide a premium customer service experience to our growing user base.” 

Iana Dimitrova, CEO of OpenPayd, said: “The vision of embedded finance is to create a world where anyone building disruptive financial products can simply plug-and-play a fully-functional payments platform and access all the benefits that come with them, and this is exactly what we’ve enabled for Bitfinex. We’re thrilled to be helping one of the world’s largest digital token exchanges to bridge the gap between fiat and crypto. It’s critical that Bitfinex and its customers have access to real-time payment rails and benefit from both improved customer experience and improve their potential to scale.”

Recently, IBS Intelligence reported that Caxton, the leading UK FinTech payments provider, announced a significant partnership with Banking-as-a-Service provider OpenPayd to offer customers a simplified payments experience. To meet the demands of rapid growth, the collaboration will upgrade and automate Caxton’s payments infrastructure, to drive faster processing of payments in and out and deliver a better customer experience.