Two companies from different parts of Europe have recently announced new products that cater to the financial needs of businesses in the crypto industry. The services range from opening bank accounts to providing payment processing solutions. Developers say they will give crypto companies the peace of mind they need to focus on their core activities without having to worry about banking.
British Company to Open Bank Accounts for Crypto Businesses
Coinacquiring, a London-based consulting firm, has announced it now offers help in opening “crypto-friendly bank accounts” for companies in the sector. The corporate banking assistance will expand its portfolio, which already includes another sought after service, fiat-to-crypto payment processing provided to merchants accepting digital currencies.
The bank accounts will be available in multiple fiat currencies including British pound, euro, U.S. dollar, Swiss franc, and Japanese yen, along with many other currencies such as Czech koruna, Romanian leu and South African rand, for example. They will also support SEPA instant credit transfers and wire transfers via Swift.
Banking and payment processing services are in high demand in the sector and the company receives several requests a day as David Jones, senior payments consultant at Coinacquiring, told news.Bitcoin.com. Jones believes banks turn the crypto businesses away because they don’t fully understand how to evaluate risk in the crypto industry.
To provide more security and stability to cryptocurrency merchants, Coinacquiring maintains relationships with a number of traditional financial institutions. “We have several Tier 1 European banks we work with and also options with smaller banks further afield,” the company representative assured.
Coinacquiring charges a fixed $500 account opening fee and additional fees are negotiated directly between the merchant and the respective bank.