Crypto-Friendly Brick & Mortar Banks For Forex, Off-Ramping Services Announced

Through this updated service, cryptocurrency foreign exchange brokers can enjoy the convenience and security offered by physical banks. The company has an extensive network of cryptocurrency-friendly institutions in the UK, Switzerland, Lithuania, Liechtenstein, Sweden, and Puerto Rico.

More information about SAXE Global is available at https://www.saxe-global.com/banking

These partner banks offer a hybrid banking experience in that clients have access to international cross-border transaction standards such as IBAN, SWIFT, SEPA, and TARGET 2. At the same time, they also offer crypto-specific services such as integrated wallets, OTC desks, and crypto cards, among others.

GROWING UBIQUITY

Cryptocurrencies have grown rapidly in the past decade owing to their decentralised nature and financial inclusivity. Indeed, experts predict that this segment will grow from $9 billion in 2021 to $19 billion in 2028 — a compounded annual growth rate (CAGR) of 11%.

Due to its inherent novelty, the crypto industry entails an elevated level of risk, surpassing that of conventional financial instruments. Consequently, the majority of traditional banks adopt a cautious approach and refrain from accepting cryptocurrencies as a viable form of currency. However, SAXE Global has meticulously curated a select group of esteemed financial institutions from across the globe that embrace innovative enterprises harnessing the potential of this rapidly expanding digital currency.

MULTI-CURRENCY ACCOUNTS

SAXE Global’s partner banks understand that flexibility is paramount in today’s business landscape. As such, these institutions offer multi-currency accounts so customers can exchange their crypto holdings for various foreign currencies, including dollars and euros. This allows them to easily complete cross-border transactions with parties that only accept fiat money.

SIMPLE ACCOUNT SETUP

Opening an account has also been simplified so entrepreneurs can focus more on running their businesses. A dedicated representative from SAXE Global will advise clients on the bank that best suits their needs and will facilitate the application process. This means that customers do not need to make a personal appearance when opening an account.

Mark Walsh, Head of Advisory, says: “Crypto has proven to be one of the biggest innovations in the financial space. We want to make sure that business owners who deal in it have access to equally innovative services. Our team is dedicated to making sure entrepreneurs have a reliable but flexible banking experience.”

For further details about the company’s comprehensive banking solutions, simply visit https://www.saxe-global.com/banking

SAXE Global LTD

13 Hanover Square, Mayfair

United Kingdom

COMTEX_436840722/2764/2023-07-14T16:54:16