Swapin, an EU-licensed crypto payment infrastructure, has announced the successful completion of their funding round that started back in December 2021. The cap reached was leveled at the €1.68M mark, which significantly enhances the capabilities of the project to develop further.
The first significant step announced by the team is a complete rebranding, which also implies an update to the company brand vision. Swapin is a reflection of the project’s key mission – providing access to instant fund transferring (swapping) between crypto and fiat. Regardless of the exact product you choose by Swapin, it will always be aimed at bridging these two common types of assets and the people that use them.
Swapin B2C and B2B Product Lineup
The announced brand philosophy can easily be seen among the Swapin product lineup, which will comprise at least five services by the end of 2022. 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.
The latter two deserve a closer examination, as B2B product development has been outlined as a prior focus for the ongoing year.
CoinCollector is a simple but unique online tool that enables businesses to accept payments in crypto and receive the funds directly to their bank accounts without touching or dealing with 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. Once the recipient sets the amount that needs to be transferred in fiat, the service provides him a wallet address and exact sum in the crypto of their choice, which will be valid for the next 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 fully complies with EU financial regulator requirements as all services by Swapin are supervised by the Estonian Ministry of Financial Affairs and Communications.
E-com, the second option, is a highly compatible payment widget for online shops and merchants designed specifically for entities. Working almost similar to CoinCollector, it can be permanently integrated into any online store, thus significantly broadening its target audience by adding in those clients looking for the opportunity to pay with their crypto. Another positive fact about E-com and CoinCollector is that they protect both businesses as well as their clients from market fluctuations. This means that the client sees the exact amount of crypto he needs to pay, while the entity always gets the demanded sum in fiat currency.
Swapin 2022 Roadmap And More
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. Finally, we have the relevant experience of successfully building products that give us a clear vision of further steps. I have no doubts that Swapin has a bright future ahead, especially with the support provided by our respected investors.”
Swapin is an EU-licensed, regulated crypto-to-fiat payment processing company. The company offers a complete set of turn key solutions aimed at bridging the gap between digital and fiat asset flow. Swapin allows the conversion of personal crypto funds or incoming payments in digital assets into direct deposit to the selected IBAN account, avoiding excessive accounting and legal compliance struggles.
The variety of ready-to-go solutions, targeted both at individuals and businesses, allows for immediate fiat settlement in the desired fiat currency in only a matter of clicks.