During the iFX EXPO International 2024 in Limassol, Cyprus, Nexpay hosted the Fintech Unplugged 2.0: Afterparty alongside Finery Markets and Sumsub.
The afterparty attracted a diverse group of attendees, including fintech executives, startup founders, investors, and industry experts. Participants engaged in discussions about the future of digital payments, regulatory challenges, and technological advancements.
The event provided a platform for key players in the fintech ecosystem to exchange ideas, explore partnerships, and gain insights from influential figures like Sofian Berrahal, Chief Executive Officer of Nexpay.
Nexpay offers IBAN, SEPA, and SWIFT payments for crypto
Nexpay, a Lithuanian-based electronic money institution (EMI), provides robust financial services tailored for digital businesses. Founded in 2017, Nexpay operates under the regulatory oversight of the Bank of Lithuania, ensuring compliance and security in its offerings. The company focuses on streamlining payment processes, offering services such as dedicated IBANs, SEPA, and SWIFT payments, bulk payments, and a REST API for seamless integration with business operations.
Nexpay’s service plans cater to different business needs with three main packages: Basic+, Premium, and Enterprise. The Basic+ plan costs €150 per month, while the Premium plan is priced at €1000 per month, providing free SEPA payments and priority support. The Enterprise plan offers customized solutions tailored to large-scale business requirements.
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The company emphasizes a customer-centric approach, providing features like personal account managers, multi-login, and multi-sig capabilities, which enhance security and ease of use. Nexpay also supports its clients with a mobile-friendly platform to manage financial operations efficiently.
Nexpay appointed Sofian Berrahal as CEO
Sofian Berrahal took over the role of CEO of Nexpay on June 1, 2024, succeeding Uldis Tēraudkalns. He joined the company in late 2022, initially serving as Chief Business Officer and later joining the Management Board.
Before joining Nexpay, Berrahal had a notable career at Dukascopy Bank, where he spent nearly nine years. He started as an account manager and advanced to Head of Asia Business Development and VP Head of Sales. His tenure at Dukascopy equipped him with extensive experience in the banking sector, particularly in FX and digital payments.
FinanceFeeds covered the event and our Editor-in-Chief, Nikolai Isayev, had the opportunity to interview Sofian Berrahal, who shared insights into the origins of Nexpay, his recent appointment as chief executive, the role of Nexpay within the digital asset space, and why the firm hosted Fintech Unplugged 2.0: Afterparty together with Crypto ECN Finery Markets and KYC provider Sumsub.
From Globitex to Nexpay to industry backbone
Sofian Berrahal told Nikolai Isayev how Nexpay was founded in 2015 as a Bitcoin exchange that, like many peers, was struggling to get a bank account. It was that challenge that drove Nexpay to pivot to become a banking partner for the digital asset industry with the goal of bridging the fiat and crypto worlds.
From Globitex, the crypto exchange, the team thus pivoted to Nexpay, the digital payments provider that secured an EMI license from the Bank of Lithuania in 2017. The firm quickly grew into the hundreds of customers, now boasting more than 600 business clients, having processed over €9 billion since it began operations, facilitating access to 23 currencies.
Now, as the chief executive of Nexpay, Sofian Berrahal wants to take the firm to the next level and leverage the talented team to fulfill their wish of building the backbone of the financial infrastructure for digital assets. He also noted that his biggest motivation comes from the feedback of Nexpay clients, their satisfaction, and growth on the back of the Nexpay infrastructure.
When he says Nexpay wants to be the backbone, the bridge between fiat and digital assets
all across the board, it goes down to the local economy: the barbershop that wants to be able to accept payments in crypto as well as be able to convert it to fiat in order to pay salaries. Nexpay wants to be the go-to banking partner in Europe.
In regard to hosting Fintech Unplugged 2.0: Afterparty, Nexpay recognizes that building by oneself is not as easy, or as fast, or as good, as building in good company. This goes both for products as well as networks. Nexpay has a strong relationship with Finery Markets and Sumsub and we are to expect a 3.0 event.
