Users of Cabital can now change their Euro to cryptocurrency, thanks to a recent integration by the digital asset institution. The Single Euro Payments Area facilitates such changes, plus making cashless payments in EUR through direct debit and credit transfer.
Cabital is a platform where users can sell, buy, or save crypto. It offers opportunities to earn passive income on savings.
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According to them, you can make 12% APY on cryptocurrency with them. Moreover, there are no hidden fees, and the institution is secured and registered in the European Union.
SEPA Facilitates Direct investment In Cryptocurrency Assets
By integrating this payment method, Cabital has boosted its services and automatically increased its patronage. All the 36 SEPA EU countries can use the service to buy and sell their crypto for Euro. Users can also change their cryptocurrency holdings to Euros and vice versa anytime they want.
The best part is that the payments will be safer, faster, and efficient without hidden charges. Users can make direct debit or credit transfers to even non-EU countries.
The institution disclosed the information yesterday, September 21, and its CEO Raymond Hsu stated that they would be rendering full-service to their users. In his statement, the CEO said the platform will help both EU countries and non-EU countries to manage and save their crypto without hassles.
Hsu also stated that this move has also given Cabital a competitive edge over its competitors. The company can pursue expansion across Europe and secure on-ramps to support its customer’s cryptocurrency investments.
Before this announcement, Cabital had completed a seed round that generated $4 million. The leaders of the round were GSR, SIG, and Dragonfly. The firm also had an angel round that generated $3 million. Now, the valuation of Cabital sits at $40 million.
Cabital And Regulations
The firm is regulated by the Republic of Lithuania laws. They operate under the guidelines of the “Lithuanian Anti-Money Laundering & Counter-terrorism Financing Rules.” According to Jonas Narbutas, the Senior Money Laundering Reporting Officer at Cabital, the firm fully adheres to cryptocurrency regulations.
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Also, it is contributing towards developing the EU’s crypto industry and helping people in the region and beyond to achieve their investment goals safely and easily. Jonas Narbutas is one of the newly appointed leadership team members at Cabital. He was earlier working at Western Union and also headed the Luminor Group anti-financial governance team.
On its official website, Cabital assures users of being protected by strong fireblocks against cyber-attacks on users’ assets. Moreover, the team is experienced in investment both in crypto and beyond. As a result, users can rely on their expertise to expand their crypto portfolio with high-yield assets.
Featured Image From Finance Monthly, chart from TradingView.com