Place/Date: London, United Kingdom - April 25th, 2023 at 6:09 pm UTC · 3 min read
Contact: Ben Heath, Source: MVPR
Yield App has partnered with Fiat Republic to introduce virtual fiat IBANs to customers, enabling seamless fiat deposits and withdrawals for EUR and GBP via SEPA Instant and UK FPS local payment rails.
With increasing scrutiny and regulations in the crypto sector, traditional banks have become more cautious when dealing with crypto-related transactions. As a result, many have either limited or halted their customers’ payments to and from cryptocurrency platforms. This partnership comes at an opportune time, capitalising on the growing demand for uninterrupted access to digital assets, offering a convenient and accessible solution for crypto customers.
Fiat Republic’s fiat-as-a-service platform is unique and designed specifically for crypto companies. By aggregating crypto-friendly banks under a single API, the platform’s compliance-first data architecture minimises payment delays and reduces the risk of sudden debanking. The integration of Fiat Republic’s fiat infrastructure into Yield App is a natural step in providing Yield App’s users with a frictionless on/off-ramp experience.
Gero Piskov, Card and Payments Manager at Yield App, said:
“Our partnership with Fiat Republic is a game changer, particularly in a world where retail banks are halting customer payments to crypto platforms. By leveraging Fiat Republic’s API, we now have additional access to a trusted bridge for multiple banks, allowing us to provide our customers with IBANs in their name for a seamless deposit and withdrawal experience. Partnering with Fiat Republic was the obvious choice for us, and marks a new era in crypto-fiat payments as we remain committed to staying ahead of the curve in the digital wealth management space.”
Adam Bialy, Founder and CEO at Fiat Republic, added:
“Yield App’s focus on excellence in the digital wealth management space aligns with our mission at Fiat Republic to make digital assets accessible by everybody. We’re delighted to provide the essential fiat infrastructure that enables Yield App to easily embed fiat payment flows into their platform. Using our fiat-as-a-service platform, Yield App is providing their users with a superior on/off ramping experience whilst at the same time de-risking their own banking setup through the many built-in redundancies that come with our offering and our laser-focus on regulatory compliance. We couldn’t be more thrilled with this partnership.”
Yield App is a digital wealth platform that serves as a digital wealth partner to its customers. The company’s mission is to provide safe custody for digital assets and enable users to exchange and earn at market-leading rates. Yield App achieves this through its innovative technology that seamlessly bridges traditional and decentralized finance, offering users a more efficient and user-friendly way to manage their portfolios. To support this, Yield App has an in-house research and development team, Yield App Labs, which invests in and collaborates with Web3 projects that share the company’s vision for a more secure decentralized ecosystem. The Yield App Labs team comprises highly-experienced and best-in-class DeFi experts. By choosing Yield App as a digital wealth partner, customers can unlock the full potential of digital assets, enhance their investment strategies and grow their digital wealth over the long term.
Fiat Republic is an EMI-regulated, Fiat-as-a-Service platform aggregating local fiat rails for crypto platforms via a single API. Fiat Republic enables crypto platforms to easily embed fiat payments into their platform to deliver frictionless pay-in and pay-outs for their users. Fiat Republic built a brand new category, Web2.5, the bridge between Web2 and Web3, which provides the connectivity tissue between banks and crypto platforms needed to accelerate global crypto adoption.
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