This collaboration aims to forward the advancement of the financial technology sector, capitalising on the respective strengths of both entities to simplify and optimise cross-border payment processes.
In the official press release, representatives from Evita highlighted Layer2's speed, agility, and adept navigation of complex compliance layers as key factors influencing the decision to form this partnership. According to them, this collaboration will better compliance management efficiency and facilitate the expansion of USD operations for Evita.
Evita focuses on large transactions, particularly in sectors where traditional financial institutions face limitations. The company specialises in facilitating transactions involving high-value items such as luxury cars and high-end furniture, presenting an alternative to major banks. Utilising its own liquidity and direct local payment rails, Evita strives to offer fast and more cost-effective payments for clients.
Evita officials also expressed surprise at the expeditious onboarding process with Layer2, as it differed from the prolonged procedures encountered in dealings with banks. They acknowledged Layer2's commitment to streamlining financial processes and exceeding industry expectations in service delivery.
Evita plans to leverage Layer2 to establish FBO (For Benefit Of) accounts for its clients in a bid to support operational efficiency with USD. This approach would allow clients to have individual US/Native accounts, simplifying wire instructions and minimising the risk of errors.
In a financial landscape where some banks are cautious about cryptocurrency, the collaboration between Layer2 Financial and Evita aims to contribute to rebuilding trust as digital and fiat currencies play an important role in large cross-border transactions.
Layer2 Financial positions itself as a next-generation Payments Infrastructure, offering a multi-partner platform designed to provide payment processors, fintechs, and neobanks with fully compliant Collections, PayOuts, FX, and Cross-Border payment services through a single API.
In November 2023, Layer2 Financial announced a strategic partnership with AI-powered fund administrator Allocations. This collaboration aimed to improve the process of fund administration by enabling asset managers to launch Special Purpose Vehicles (SPVs) and funds quickly and efficiently.
Allocations helps emerging fund managers and provides investors with opportunities to invest in companies that are shaping the future. By joining forces with Layer2 Financial, Allocations gained access to a suite of tools and services that streamline the process of opening bank accounts and custodial digital asset accounts for SPVs and funds.
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