More and more businesses are recognizing the necessity of launching cutting-edge products that address market pain points. Another company that has integrated a breakthrough solution from Mercuryo, Banking-as-a-Service (BaaS), is Advcash.
Mercuryo, a crypto-powered global payments infrastructure provider, has partnered with Advcash, an electronic payment and digital currency platform, offering services for individuals and online businesses.
Mercuryo also becomes the second company to provide its users with virtual IBANs in less than three months. A virtual IBAN is an International Bank Account Number (IBAN), a reference issued by a bank to allow incoming payments to be redirected to a different physical bank account.
Through licencing and integrations, Mercuryo's BaaS helps platforms issue banking products using virtual IBANs for EU and UK citizens. With the help of this invention, any company, including DEXs and investment apps, may open full-fledged bank accounts, allowing consumers to store, receive, and pay with fiat (fiat money, a government-issued currency that is not backed by a commodity like gold). Also, users may easily convert fiat money to cryptocurrency within the same account.
Mercuryo believes IBANs are essential in securing seamless cross-border payments for fiat settlement and fiat-crypto transactions. According to the company's study, 57% of US and UK customers are more likely to select a bank that provides cryptocurrency services, a plus over standard banking services. In addition, traditional businesses and crypto-native platforms can integrate fiat payment infrastructure and a crypto gateway using the BaaS product.
About Mercuryo
Headquartered in London, U.K., Mercuryo is a global fintech company that focuses on providing cryptocurrency payment solutions. Through API connections, it offers a comprehensive range of financial services to companies operating in the fiat and cryptocurrency markets. The company has amassed over 200 partners since its launch in 2018, working with top industry leaders to accelerate growth and increase enterprise sales globally.