Coinfloor, provider of the UK’s longest running Bitcoin exchange, today announced a partnership with one of the longest established FCA authorised electronic money institutions, Enumis, to offer fiat current account banking functionality. The service, aimed at crypto-focused businesses, has been specifically created to meet the demand for a trustworthy domestic fiat current account banking facility that is part of the UK Faster Payments network. The new offering is part of Coinfloor’s wider strategic ambition to build a trusted, reliable and secure set of cryptocurrency financial services to bridge the fiat and crypto worlds.
As well as allowing for deposit and withdrawal of funds via CHAPS, BACS and, 24 hours a day, UK Faster Payments, the Coinfloor Enumis Fiat Current Account will let clients reduce costs with free GBP deposits and withdrawals into and out of their Coinfloor cryptocurrency exchange accounts. Access to the account is available 24 hours a day online and clients will be able to undertake regular banking functions such as setting up Direct Debits and Standing Orders; more advanced features including programmatic API access for account automation are also available. Prepaid/Debit cards providing a 0.2% rebate on all transactions will also be issued to all account holders.
Speaking of the new offering, Obi Nwosu, Founder & CEO of Coinfloor said: “Crypto-focused businesses are growing at a steady pace, but until now, no reliable banking facilities have existed to help them manage fiat and crypto finance operations in an effective manner. Our partnership with Enumis will ensure that this will no longer be an issue. With our joint pedigree and market expertise in the cryptocurrency and financial services spaces, we hope that this offering designed by members of the crypto community for the community will help the community of crypto businesses overcome their financial
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