OpenPayd’s platform enables SwissBorg to embed a full suite of financial services into its user experience, driving increased processing speeds, and reducing operational costs to support further business growth. With the price of Bitcoin continuing to set new all-time highs - the latest reaching more than USD 63,000 (CoinMetrics, 13 April 2021), scaling to meet demand is crucial for digital asset businesses. SwissBorg itself is a fast-growing platform and, after a spike in user numbers, faced the unexpected need to replace their incumbent banking provider at short notice (a common issue for cryptocurrency businesses). Since launching with OpenPayd, its monthly new user growth has increased by nearly 800% - and it needed a solution to support its scaling.
Through OpenPayd’s specialist BaaS platform, which includes a feature set specifically designed for digital asset businesses, SwissBorg can completely automate the process of receiving fiat deposits and initiating fiat withdrawals from and to their customers via SEPA, SEPA Instant, and SWIFT. Crucially, with SwissBorg having access to the SEPA Instant payment scheme, its customers are now able to top up their fiat wallets in real time.
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