Swapin is a EU-licensed, crypto payment infrastructure. They have announced their successful conclusion of the funding round. It began back in December 2021. The final cap was reached at €1.68M This significantly increases the ability of the project’s development.
Team members have announced a major step: a complete rebranding. This will also include an updated company vision. Swapin is a reflection of the project’s key mission – providing access to instant fund transferring (swapping) between crypto and fiat. No matter what product Swapin offers, the goal is to bridge these common assets with the people who use them.
Swapin’s B2C and/or B2B product line-up
Swapin’s product line, which includes at least five services in 2022, clearly displays the new brand philosophy. InstaBuy and InstaFill (relatively similar solutions aimed at making instant crypto-to-fiat payouts accessible) will be complemented with a reliable crypto-purchasing tool (InstaBuy) and several products geared at bridging fiat and cryptocurrencies for businesses and individuals – CoinCollector and E-com.
Both of these are worthy of closer inspection, since B2B product innovation has been identified in the past year as a priority.
The unique and simple online CoinCollector tool allows businesses to accept crypto payments without having to deal with any digital assets. All that’s needed is to create a CoinCollector payment link and share it with a client who wants to pay with crypto. The recipient must set the amount of the transfer in fiat. After that, CoinCollector will provide a wallet address along with the precise sum in cryptocurrency. These details are valid for at least 30 minutes. The only step remaining is completing the transfer, and once that is done, the established amount of euros will hit the merchant’s bank account. CoinCollector complies fully with EU regulations as Swapin services are overseen by the Estonian Ministry of Financial Affairs and Communications.
E-com, which is the second option, can be used to make payments online. Similar to CoinCollector it can easily be embedded into any online shopping cart. This allows for a significantly wider audience to access the service, as clients are now able to pay using crypto. E-com, CoinCollector are positive because they offer protection for both their clients and businesses against market fluctuations. Clients can view the amount they need to pay in crypto, and entities get the required sum in fiat currencies.
Map and more from Swapin 2022
This isn’t even an exhaustive list of product updates mentioned in the Swapin 2022 roadmap, as the company seeks to launch a virtual IBAN release option and acquire an EMI (Electronic Money Institution) license by the end of the year.
When reached for comment, Evald-Hannes Kree, CEO at Swapin, emphasized the company’s recent achievements:
“Swapin is the best possible brand name to reflect our passion – the endless search for a better way to integrate the worlds of digital assets and traditional finances. We see a large and, more importantly, consistently growing demand from both ends, and we know our clients’ needs. We have the experience and knowledge of building successful products, which gives us an excellent view of what is ahead. I have no doubts that Swapin has a bright future ahead, especially with the support provided by our respected investors.”
Swapin
Swapin is a EU-licensed and regulated crypto-to fiat payment processing firm. Swapin offers turn-key solutions that bridge the digital/fiat gap. Swapin allows you to convert personal crypto assets or incoming payments from digital assets into direct deposits to a selected IBAN account. This avoids excessive accounting and compliance problems.
A variety of solutions are available, which can be tailored to both individuals and companies.