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Fintech is transforming with innovative solutions and one of them is vIBAN. Many startups and businesses issue vIBANs because of the ease they create for the end users, especially in the crypto space.
Unlike IBANs, a virtual IBAN is not a physical account. However, it enables seamless SEPA payments for the end users, and businesses can track these transactions, as each end user has a dedicated vIBAN.
Finding a reputable vIBAN provider offering competitive fees and easy integrations is stressful.
Secure payment systems with vIBANs
Virtual IBAN provider, allows end users to make SEPA payments and enjoy the convenience of having a European account. Additionally, the provider ensures end users get vIBANs for their EUR accounts.
Virtual IBAN providers also increase security by reducing the risks linked with traditional banking details. They offer end-users a dedicated and unique vIBAN which makes the transactions safer.
Payment solutions: on and off-ramp
Businesses can integrate an on-ramp API into their products enabling their end users to deposit fiat easily and convert it to crypto without complex processes. Virtual IBAN providers simplify the on-ramp (fiat to crypto) process for their end users through SEPA transfer.
Being a licensed entity, providers take care of KYC and AML so businesses don’t have to carry out compliance checks by themselves. Simply add the KYC SDK to the platform and start onboarding EU and EEA customers.
Once the user clears mandatory KYC, a default account in euros is allocated to the user. This allows businesses to add more functionalities as they like. For example, startups can offer end users virtual IBANs, dedicated deposit addresses, swaps, or any other feature required by the platform.
Similarly to the on-ramp, virtual IBAN provider creates ease for businesses to integrate off-ramp APIs (crypto to fiat) into their platforms.
Crypto remittance offers secure payment solutions
With new demands, new solutions arise, and if we talk about the fintech space, the solution is crypto remittance.
Crypto remittance has made cross-border payments easier than ever. While SWIFT has been used to send money abroad for decades, it is costly and time-consuming, whereas crypto remittance is a cheaper, faster, and more transparent solution.
With Crypto wallets, neo-banks, or crypto-friendly platforms, customers can deposit EUR using their virtual IBANs and convert their fiat into any cryptocurrency they like. After conversion, the end users can send their crypto funds with on-chain transactions to anyone around the globe. The recipient will accept payments in crypto within a few minutes in their wallets and can convert them to fiat.
Striga is working with companies such as Bitwala and Bitrefill to create a seamless flow of funds with its crypto-banking as a service platform. The simplified API documentation and in-house compliance allow businesses to focus on building and scaling their product without worrying about unnecessary partnerships.
Choose the best virtual IBAN provider and enable users to accept payments in crypto
Instead of dealing with multiple providers, businesses can simply connect their platforms with the APIs and offer customers secure payment solutions such as off-ramp, on-ramp, and cross-border crypto remittances.
As a vIBAN provider, Striga takes care of all the heavy lifting so businesses can launch within weeks. Striga is on a mission to empower businesses to create efficient financial platforms and bridge the gap between traditional banking and crypto banking.
Striga Crypto-native Banking as a Service:
Your path to building and launching financial products
Join the financial businesses that use Striga’s cloud platform to delight their customers and launch their own products without the complexities that come when dealing with core banking solutions’ relationships, licensing, compliance and payments methods.
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