UK’s fintech Monneo enlists Coinbase to allow invoices to be paid in cryptocurrencies
Monneo, a virtual IBAN and corporate account provider, has enlisted cryptocurrency exchange Coinbase to enable payment of invoices in a range of cryptocurrencies. The new service will be available for B2B invoice settlement and supported by two of Monneo’s partner banks.
Notably, Coinbase is a secure online exchange platform for buying, selling, transferring, and storing digital currencies.
Lili Metodieva, Managing Director of Monneo, comments: “We are excited to offer corporates an additional method of payment. Monneo will closely monitor the launch and implementation of this new service so that it is secure and reliable for both payers and payees.
“Increasingly companies in the IT and software sectors issue invoices with the option to settle via cryptocurrency, as well as traditional currency. Through its relationship with Coinbase, Monneo is responding to customer demand and remains at the forefront promoting flexibility in how payments are executed.
“In its platform, Monneo offers payments in 130+ fiat currencies to which leading cryptocurrencies are now added. Essentially payments in a cryptocurrency are no different from FX payments via fiat currencies. The mechanisms are the same”.
Lili added: “Whatever one’s perspective on cryptocurrency, it is here to stay. Many people see both the value of it and enjoy using it. We believe that by working with Coinbase, Monneo is offering its customers the highest standards in the cryptocurrency market.”
Virtual IBAN provider
Founded by Avi Veenstra in 2016, Monneo consolidates the management of all your online IBAN accounts and provides access to a trusted network of leading European and International banks.
Online merchants and B2B companies can set up multiple IBANs in their company’s name across multiple banks from Monneo’s network. Monneo’s customers can receive and send payments in more than 130 currencies internationally.
The company allows customers to monitor and control access to all their IBANs with one log-in, even when such IBANs are provided by multiple banks.
Every IBAN provided through Monneo’s platform is linked to a safeguarded bank account to ensure your funds are secure at all times, while also supporting in mitigating risk.
The company provides SWIFT multi-currency for international payments, SEPA Euro within the Eurozone, GBP Faster Payments and CHAPS in the UK, and FX in 134 currencies.