Coinmama, the leading cryptocurrency exchange platform, is delighted to announce a partnership with Volt, to enable open banking payments for customers in Europe and Brazil. This partnership will facilitate Coinmama’s growth in some key European markets, providing customers with secure, and efficient deposits and payouts when trading cryptocurrencies.
Main Aim of this Collaboration
Integrating Volt’s pan-European open banking solution for account-to-account payments, Coinmama can promote speed and efficiency for its customers’ on-ramp and off-ramp payment experiences.
Open banking payments provide a more efficient way of trading cryptocurrency compared to legacy payment methods, as these are often subject to long settlement times of up to 3-5 business days, and traditional bank transfers may be restricted due to banks enacting crypto bans to reduce fraudulent activity. This eliminates the friction associated with such methods, allowing for smoother cryptocurrency trading.
Coinmama is harnessing the power of Volt’s near-instant payment solutions and hosted checkout page to simplify operations in European markets, giving customers full control of their funds and the ability to authorize transactions using their preferred biometrics, such as fingerprint recognition or face ID.
The use of open banking-powered payments for cryptocurrency trading has seen a better acceptance, as crypto buyers appreciate the convenience and security it offers. As of 2023, the value of open banking payments has climbed to almost $4bn and is expected to surpass $330bn by 2027.
Since its launch in 2019, Volt has established itself as a global open payments gateway, headquartered in London. The company specializes in creating the infrastructure for real-time, account-to-account payments, giving merchants and Payment Service Providers (PSPs) the ability to securely process transactions between more than 5,000 banks in the United Kingdom, Europe, and Brazil, covering over 680 million accounts.
Coinmama is a renowned, trusted crypto exchange that makes it simple to purchase and sell digital currency. With more than 3 million customers in 188 countries, Coinmama provides safe and straightforward access to Bitcoin, Ethereum, and other digital assets.