Mercuryo launches Crypto BaaS offering powered by Fireblocks

Crypto-powered payments solution Mercuryo has integrated Fireblocks in order to offer over 3 million end-users and more than 200 business partners secure access to new and popular cryptocurrencies and blockchains.

Available as part of Mercuryo’s Banking-as-a-Service (BaaS) offering, which enables crypto-native companies to integrate built-in bank accounts into their platforms, the new capabilities will be directed at firms within the ecosystem, including centralized exchanges and DeFi wallets.

Mercuryo’s customers will now be able to offer the most popular digital assets with cost-effective settlement solutions. Fireblocks will also empower Mercuryo to easily add support for new assets to their product as needed and requested.

Partnership enhanced Mercuryo On- and Off-Ramp, Pay in & Pay out products

Omar Ben Hachme, Product Lead at Mercuryo, commented: “Thanks to the integration with Fireblocks, we quickly integrated a number of new digital assets into Mercuryo On- and Off-Ramp, Pay in & Pay out products. This allowed us to provide partners more flexibility, improving the end-user experience and increasing transaction volumes”.

Jonathan Dakin, Head of EMEA at Fireblocks, said: “Mercuryo provides a critical service in the healthy growth of the digital asset industry — secure and dependable one and off ramps for crypto native businesses. It has established itself as a leader and innovator in bringing BaaS to the crypto industry and we’re proud to support their work in making B2B payments easier with blockchain technologies.”

Earlier this year, Mercuryo surpassed 3 million users worldwide. Revenue in the first four months of 2022 has shot up by 39% on a year over year basis. The company is scaling fast and has plans to expand their product offering in the coming months.

The firm provides businesses from both fiat and crypto worlds with a wide range of financial services, accessible through single API integration. Mercuryo empowers users to buy crypto with a range of payment options, including Visa and Mastercard credit and debit cards, Apple Pay, and Google Pay. Holdings will be credited directly to the user’s wallet immediately after payment.

The global payments platform has secured more than 200 partners since its inception in 2018. It now works with leading industry players such as Binance, Trust Wallet and 1inch. The firm has most recently integrated with cryptocurrency derivatives exchange BitMEX to enable faster and more secure fiat-to-crypto purchases for users.

The accelerated expansion was fueled by the €12.5 million Series A funding round in June 2021, led by Target Global. 2021 was a breakthrough year for Mercuryo as it expanded into Asian and US markets, and added Apple and Google Pay support to its offer, and launched IBANs to help companies and individuals open full-fledged banking accounts – combining fiat and crypto services in one app.