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Request Finance expands with Pay.so Lithuania acquisition

Wednesday 27 November 2024 13:56 CET | News

Request Finance, a company specialising in cryptocurrency and fiat financial operations, has acquired Pay.so Lithuania, a regulated virtual asset service provider (VASP).

This acquisition aims to strengthen Request's capabilities in offering compliant on/off-ramp payment solutions that bridge the gap between digital and traditional currencies.

Request Finance acquires Pay.so Lithuania for crypto growth

Pay.so Lithuania operates under regulatory frameworks designed for digital asset services and has experienced significant growth in recent months. It supports fiat payouts in a wide range of currencies, including USD, EUR, GBP, AUD, and many others, providing extensive currency coverage for Request’s clients.

The acquisition enables Request Finance to improve its Fiat-to-Crypto and Crypto-to-Fiat transaction capabilities for amounts ranging from USD 100 to USD 100 million. The integration expands services to include direct payments, multi-payee billing, and employee payments, simplifying financial operations for businesses of all sizes.

This strategic move positions Request Finance to further its mission of providing comprehensive crypto accounting and payment solutions while aligning with regulatory compliance standards such as MiCA. By acquiring Pay.so, Request aims to cater to hybrid businesses seeking efficient, compliant financial solutions globally.

The rise of crypto on/off-ramp solutions for businesses

The adoption of digital currencies among businesses has risen sharply in recent years, with reports indicating that the global cryptocurrency market size is projected to grow at a CAGR of 20%, reaching USD 45.3 billion by 2025. This growth underscores the increasing demand for compliant on/off-ramp solutions to facilitate simple transitions between fiat and cryptocurrencies. Businesses require these services to manage operations such as payroll, invoicing, and cross-border payments, which are essential for scaling hybrid financial models. Data suggests that nearly 70% of companies exploring crypto use cite payment efficiency as a key driver, highlighting the critical role of on/off-ramps in bridging operational gaps.

Regulated Virtual Asset Service Providers (VASPs) like Pay.so have become indispensable in this evolving landscape, ensuring secure and compliant transactions amidst heightened scrutiny. A recent Chainalysis report found that illicit crypto transaction volumes increased to USD 20.1 billion in 2022, prompting stricter global regulatory oversight. VASPs address these concerns by implementing robust AML and KYC measures, offering businesses a pathway to engage with digital assets while maintaining transparency. Their presence has become particularly significant as governments worldwide, including the European Union with its MiCA regulation, move toward standardised regulatory frameworks for digital finance.


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Keywords: acquisition, crypto, cryptocurrency, financial services, compliance
Categories: DeFi & Crypto & Web3
Companies: Pay.so, Request Finance
Countries: Lithuania
This article is part of category

DeFi & Crypto & Web3

Pay.so

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Request Finance

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