More and more companies recognize the importance of launching cutting-edge products that address market pain points. Advcash is another company that has integrated Mercuryo’s breakthrough solution, Banking-as-a-Service (BaaS).
Mercuryo, a provider of crypto-powered global payments infrastructure, has partnered with Advcash, an electronic payment and digital currency platform that provides services to individuals and online businesses.
Mercuryo also becomes the second company in less than three months to offer virtual IBANs to its customers. A virtual IBAN is an International Bank Account Number (IBAN), which is a reference number issued by a bank that allows incoming payments to be redirected to another physical bank account.
Through licensing 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.
IBANs, according to Mercuryo, are critical in ensuring seamless cross-border payments for fiat settlement and fiat-crypto transactions. According to the company’s research, 57% of US and UK customers are more likely to choose a bank that offers cryptocurrency services as an advantage over traditional banking services. Furthermore, traditional businesses and crypto-native platforms can use the BaaS product to integrate fiat payment infrastructure and a crypto gateway.
Mercuryo is a global fintech company based in London, UK, that specialises in cryptocurrency payment solutions. It provides a comprehensive range of financial services to companies operating in the fiat and cryptocurrency markets via API connections. Since its inception in 2018, the company has amassed over 200 partners, working with top industry leaders to accelerate growth and increase revenue.