Mistertango, the first crypto-friendly fintech company, today announced a partnership with one of the biggest European crypto-exchanges, EXMO, with average daily trading volumes of around $50, allowing users to trade, exchange and store their assets with ease.
This partnership enables traders on the EXMO platform to make instant deposits and withdrawals in Euros for the first time. Via Mistertango, EXMO users are also able to make Single Euro Payment Area transfers (SEPA), meaning faster payments for customers and providing a key differentiator for EXMO over other exchanges.
All EXMO users are now able to simply, quickly and securely facilitate and fund crypto activities using fiat currency via a Mistertango payment account. The current account comes complete with IBAN number, the ability to transfer money instantly via SEPA and an accompanying prepaid MasterCard. Mistertango already works with over 100 crypto exchanges and this partnership marks the company’s ambitious plans for growth as it seeks to bolster its number of crypto partners and expand its 25,000-strong user community.
The company’s decision to partner with Mistertango leant heavily on its rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. EXMO also chose Mistertango for its competitive pricing model, even for relatively high volumes, and its unrivalled speed of transfers. This differentiates Mistertango from other electronic payment platforms who offer percentage-based fees, making the exchange of large volumes of cryptocurrencies more expensive to the user.
“EXMO strives to ensure the most effective trading conditions for its users by maximising the number of efficient payment channels it has to offer,” said co-founder of EXMO, Ivan Petukhovsky. With the ability to make faster payments and provide users with payment accounts, we’re able to set ourselves apart and offer the quality of service that more closely parallels the level that customers would expect from the traditional financial world.”
Gabrielius Bilkštys, Business Manager at Mistertango said, “This partnership is the latest chapter in our continued growth story. EXMO is one of the biggest crypto players in Europe so this deal is a real testament to our growth so far and our increasing recognition within the industry. A big part of that hinges on our regulatory focused approach.
If the market is to emerge from uncertainty, gain legitimacy and thrive, there must be clear regulation which can both empower and safeguard activity. Crypto exchanges understand this and are increasingly coming to us for our deep understanding of existing regulatory requirements and to help them demonstrate compliance with any future KYC and AML procedures.”