CEX.IO Selects OpenPayd to Power Global Fiat Settlement and Treasury Operations

• Across all of CEX.IO’s worldwide operations, the integration is intended to make the process of moving funds more straightforward.
• The way that digital asset exchanges are treating fiat infrastructure is undergoing a more fundamental transition, which is reflected in this partnership.
• Within the confines of this framework, there is support for EUR payment flows via SEPA and SEPA Instant, which results in CEX.IO access to settlement in a timeframe that is close to real-time for transactions denominated in euros.

One of the most prominent providers of financial infrastructure, OpenPayd, has been chosen by the global cryptocurrency exchange CEX.IO.For the purpose of supporting its fiat payment operations and institutional settlement activities throughout its global platform.

When it comes to managing liquidity across many jurisdictions, CEX.IO provides support for 15 million retail and professional customers throughout the globe. This generates operational complexity. Particularly for institutional players, the trustworthiness of the settlement itself is just as crucial as the quality of the implementation. In order to facilitate more effective treasury administration and the streamlining of the transfer of funds throughout its worldwide activities, CEX.IO has implemented multi-currency accounts in United States Dollars, British Pounds, and Euros, in addition to integrated foreign exchange capabilities, through the infrastructure that OpenPayd provides.

Within the confines of this framework, there is support for EUR payment flows via SEPA and SEPA Instant, which results in CEX.IO access to settlement in a timeframe that is close to real-time for transactions denominated in euros. Through the consolidation of these flows into a single environment, CEX.IO is able to acquire a consolidated treasury perspective, which enables quicker reconciliation, smoother settlement, and increased control as volumes and counterparty relationships grow.

Across all of CEX.IO’s worldwide operations, the integration is intended to make the process of moving funds more straightforward. It is now possible for CEX.IO to route deposits, withdrawals, and internal treasury transactions via a single infrastructure, which allows for quicker and more consistent settlement for institutional and corporate customers. Previously, CEX.IO relied on fragmented banking integrations.

Iana Dimitrova, CEO at OpenPayd, said:

Arina Dudko, Head of Corporate Payment Solutions at CEX.IO, said:

The way that digital asset exchanges are treating fiat infrastructure is undergoing a more fundamental transition, which is reflected in this partnership. The ability to offer regulated, real-time EUR settlement across a complex corporate structure, without the friction of fragmented banking arrangements, is becoming an increasingly crucial operational competence as the level of institutional engagement in cryptocurrency markets continues to increase. When CEX.IO’s institutional business continues to expand, the company has the potential to extend that capacity, by use of the regulated infrastructure that OpenPayd provides.

CEX.IO, which has been a pioneer in the cryptocurrency sector since 2013, was initially the GHash.IO mining pool, which mined more than 583k bitcoins. Following a very close approach to exceeding 51% of Bitcoin’s mining power, the platform unilaterally reduced its mining capacity in order to redirect its attention to trading operations. Since that time, CEX.IO has developed into a complete platform that has over 15 million registered users. It provides services for purchasing, storing, trading, selling, sending, and earning digital assets. CEX,IO was the first cryptocurrency exchange to allow traders to make transactions using credit cards. While maintaining a pristine record of security and regulatory compliance for the last thirteen years, CEX.IO has constantly led the way in innovation. Additionally, the company has 40 worldwide licenses and registrations.

Through its work, OpenPayd is building the universal financial infrastructure that will support the digital economy. Through a single, robust application programming interface (API), the rails-agnostic platform that was established in 2018 by Dr. Ozan Ozerk, allows organizations to transfer and manage money on a worldwide scale, including both fiat currency and digital assets. In order to facilitate interoperability between conventional financial systems and digital assets, OpenPayd offers a variety of services, including embedded accounts, foreign exchange, local and international payments, Open Banking, and stablecoin on/off ramps. With one of the most extensive financial networks now available on the market, OpenPayd makes it possible to shift money in real time, regardless of where you are.

The worldwide brands eToro, Kraken, OKX, and B2C2 are among those that have placed their faith in OpenPayd. The company handles more than $180 billion in yearly volumes for more than 1000 organizations. The future generation of financial services is powered by this infrastructural layer, which gives them their power.