CABITAL ADDS SWISS FRANC TO PAYMENT OPTIONS FOR FIAT ON-RAMP

Cabital, a leading digital assets institution, announced that it has added the Swiss franc (CHF) to its growing list of payment methods.

Through its partnership with BCB Group (BCB), the leading global provider of business accounts and trading services for the digital asset economy, Cabital can now enable its users to exchange CHF for crypto assets and vice versa at some of the most competitive rates in the market.

With a simple bank transfer, Cabital customers can easily convert CHF, GBP and EUR into their digital assets. Both local (via Swiss Interbank Clearing) and SWIFT transfers are supported with Cabital.

With a bank transfer, people using CHF will enjoy some of the lowest crypto prices in the industry. This is because Cabital does not have any hidden fees and offers our customers one of the lowest spreads in the market.

Cabital Connect, Cabital’s secure fiat on-ramp and off-ramp gateway, also allows its partners’ users to use CHF to buy and sell crypto – including Bybit, a fast growing cryptocurrency exchange.

Raymond Hsu, Co-Founder & CEO of Cabital said:

“Cabital aims to be the Paypal for Web 3.0, starting in Europe, by shaping the future of fiat and digital payments. In 2021, we made significant progress towards our ambition with the announcement that Cabital integrated with Plaid to make it easy for our users to seamlessly fund their Cabital accounts with fiat currency from over 11,000 financial institutions. In November, we announced that we have partnered with BCB, enabling us to incorporate GBP and EUR to our growing list of payment options.

“Our dedicated teams have also made excellent progress already in 2022, further strengthening Cabital’s position across Europe with the announcement of accepting CHF as a payment method. I am confident that our new capabilities reinforce our competitive strengths across the region. We will remain focused on the delivery of our purpose of taking the crazy out of crypto and execute our strategic priorities to generate long-term sustainable value for all our stakeholders and customers.”

Oliver von Landsberg-Sadie, Founder and CEO of BCB Group, said:

We’re delighted to be working with Cabital, and helping them with payments infrastructure to allow them to add CHF to their offering. We look forward to continuing to help Cabital add more payment methods across Europe and beyond as we further build BCB’s global banking footprint.

About Cabital

Cabital is a trusted digital financial institution to buy, sell and earn cryptocurrency — generating up to 12% APY. The company’s purpose is to empower people to earn passive income safely and securely with their cryptocurrencies. Our main product is Cabital Earn, a cryptocurrency savings platform that enables customers to earn high yields on their digital assets. Customers can use GBP, CHF and EUR to buy and sell cryptocurrency at some of the most competitive rates in the market.

Cabital’s compliance programme is modeled after leading global financial service providers. We use SumSub’s biometric identity verification solution to manage the risk of identity fraud. To provide our customers with peace of mind, all customers’ crypto assets are held with Fireblocks, one of the world’s most trusted digital asset custody, transfer and settlement platforms. We have been using Chainalysis’ KYT and Reactor products since our formation to empower us to meet applicable regulatory requirements on Anti-Money Laundering (AML) in each of our markets with ease and agility.

Cabital has launched a leading fiat on-ramp solution called Cabital Connect, a secure fiat on-ramp and off-ramp gateway for cryptocurrency platforms. When cryptocurrency companies integrate with Cabital Connect, their users will have a high-quality service option to purchase top-tier cryptocurrencies at some of the best rates in the industry. Leading cryptocurrency exchanges such as Bybit have integrated Cabital’s fiat on-ramp gateway.

Cabital is registered in the Republic of Lithuania as a cryptocurrency exchange operator and a cryptocurrency exchange wallet operator. Cabital carries out its activities in accordance with Lithuanian regulations on AML/CTF, and is subject to the European Union’s General Data Protection Regulation. Cabital is audited yearly by an external auditor and places compliance and licensing at the core of its business.
Cabital was founded by Raymond Hsu in 2020. Prior to establishing Cabital, Raymond worked for over a decade, holding leadership positions in fintech companies such as Airwallex and global banks including Citibank. Cabital’s leadership team has extensive experience working in leading traditional financial institutions, including JPMorgan Chase & Co, Nomura Securities, UBS and AIA Group.

About BCB Group

BCB Group is the world’s leading crypto-dedicated payment services provider, serving some of the industry’s largest clients including Bitstamp, FTX, Crypto.com, Fireblocks,, Galaxy, Gemini, Huobi and Kraken. BCB Group provides payment services in 25+ currencies, FX, cryptocurrency liquidity, digital asset custody and BLINC, which is BCB’s free, instant settlements network for the BCB client ecosystem.
Responding to institutional demand for operational best practice in digital asset markets, BCB Group was created by established thought leaders in finance, regulation and technology. Founded in the UK and developed to encompass key relationships across global financial services communities, BCB Group is well positioned as one of the first multi-jurisdictional regulated cryptocurrency service firms. BCB Group’s executive team have worked for Barclays, Credit Suisse, Deutsche Bank, Investec, Lloyds Commercial Bank, Norton Rose Fulbright, FIS and Sun Life of Canada.
Contacts:

Investment community: Tina Chu, Tina.chu@cabital.com
News media: Baron Laudermilk, Baron.Laudermilk@cabital.com