London-based CoinAcquiring is launching it’s payment processing consulting service aimed at helping merchants in the crypto industry to solve their financial services problems, the company announced on Monday (July 22).
CoinAcquiring operates a consulting service for any type of crypto business, from anywhere in the world, to resolve their financial services bottlenecks including payment processing, foreign exchange and banking. The solution aims to facilitate helping crypto exchanges open merchant accounts for payment processing, the company noted. The firm is setting up its EU headquarters in London and aims to dominate the crypto vertical in the payment processing sector.
Launching in Europe will enable CoinAcquiring to take advantage of the huge explosion of crypto exchanges and other related businesses, the consultancy added. According to CoinAcquiring CEO and Co-founder, the launch of the service is driven by the large number of businesses in the crypto industry who struggle to find reliable banking partners and financial services. With banks still being so cautious to take on any business even remotely related to anything crypto, it’s perfect storm of opportunities for someone like us to come in and solve the problem.
In July, CoinAcquiring said they had already partnered with three European based acquiring banks, four foreign exchange MSO’s, and two business retail banks who were all crypto friendly and open to working with CoinAcquiring’s customers.
“A major problem for crypto businesses is that the whole financial services sector still doesn’t know how to properly evaluate risk from a crypto related business,” CoinAcquiring CEO said at the time. “This sector is growing at an incredible pace, and these businesses need better support from forward thinking financial services firms and banks.”