OpenPayd releases crypto banking and payments service

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API-led Banking-as-a-Service provider, OpenPayd has released its banking and payments solution for digital currency businesses. The service is expected to provide cryptocurrency businesses with access to a range of banking and payment networks.

According to OpenPayd, the platform will offer crypto businesses with access to crypto-friendly banking, simplified cryptocurrency purchase, fiat and digital currency exchange as well as automated payments. The crypto-friendly banking feature entails multi-currency payment accounts with the option of linking virtual IBANs. It also enables crypto businesses to extend their value chain and provide collection, conversion and settlement services to customers.

Digby Try, Head of Global Sales at OpenPayd, commented, “Digital currency businesses are seeing exponential growth in demand. The problem is, a lack of familiarity and understanding of the sector means crypto businesses are often underserved and lacking access to fundamental banking and payments services. As an established fintech with a nuanced understanding of the market and a strong network of partners across banking, payments, digital currencies, risk and compliance management, OpenPayd is uniquely placed to address and support the evolving needs of the crypto market as it reaches maturity.”

Recently, OpenPayd announced the improvements of its payment capabilities with direct access to the SEPA payment scheme. The integration is expected to benefit the company’s business customers with access to cost-effective payment processing across the 36 participating nations of the SEPA scheme, including all EU member states and EEA members.