Volt launches real-time payments for crypto exchange platform Kriptomat
London, 24th November 2022: Volt, the leading global gateway for open banking payments in Europe, the UK and Brazil, and Kriptomat, one of the fastest-growing European cryptocurrency exchange platforms, are announcing a partnership to enable Kriptomat customers to make real-time account-to-account payments to buy, sell and exchange cryptocurrencies. This will enable near-instant speed and friction-free transactions, removing barriers for over 500,000 users in trading over 340 cryptocurrencies.
Founded in 2018 in Tallinn, Estonia, Kriptomat has a growing customer base of over 500,000 users, mostly in emerging markets in Central and Eastern Europe. In addition to buying, selling and exchanging cryptocurrencies, the platform also provides users with a cost-averaging investment product that allows them to automatically purchase crypto at fixed intervals. Kriptomat enables trading in Bitcoin, Ethereum, Tether, Cardano, XRP, Polkadot, Dogecoin, Shiba Inu, Litecoin, Polygon, Avalanche, Solana, Tron, Enjin, Uniswap and over 300 others.
By integrating the option of real-time account-to-account payments using Volt’s solution, Kriptomat will ensure a much faster, more streamlined and less expensive way for customers to fund crypto purchases. Real-time payments ensure that transactions are carried out instantly, offering improved control and a seamless and secure payment experience.
Previously, Kriptomat customers were using bank transfers, credit cards and to a lesser degree e-wallets for their transactions, typically meaning funds could take up to 3-5 business days to reach accounts and adding friction to the transactions process. Volt account-to-account open banking payments, on the other hand, are near-instant, meaning customers can transfer and access funds much faster. The integration of Volt payments provides a seamless and efficient customer experience: when paying with Volt, users are seamlessly directed to their banking app, where they can authorise payments using their usual authentication method, usually with biometrics such as fingerprint recognition or Face ID.
Srdjan Mahmutovic, CEO at Kriptomat said: “Integrating with Volt.io’s A2A payment solution was a must-have. With our mantra of customer obsession and our mission to make the crypto revolution accessible for everyone, we are constantly striving for innovative ways to build the best customer experience. The crypto world has entered a new phase. New technologies always start with enthusiasts who study the underlying science and build their own rigs. That was the state of crypto a few years ago. Today’s new crypto users are more like car owners, who expect to turn the key and have it work immediately – without learning the ins and outs of the processes that happen in the background. Volt’s technology has helped us provide that level of usability to our customer base.”
Matt Komorowski, Chief Revenue Officer at Volt said: “Replacing traditional payment methods such as cards or bank transfers which were created for a world of in-person interactions, open banking payments are faster and more convenient for users, better at protecting against fraud, and less costly for businesses. We’re excited to partner with Kriptomat and support their mission of making crypto trading accessible to everyone in a way that is both compliant and innovative. Real-time payments complement and accelerate online business processes, and are the obvious fit for businesses in the digital economy. We are seeing rapid adoption of real-time payments across many sectors, with e-commerce, automotive and digital services discovering the benefits of account-to-account payments worldwide.”