FinTech Metal Pay Launches Finance App to 30 New Markets Across EU, EEA

Digital assets technology firm Metallicus is expanding its financial app Metal Pay across the European Union (EU) and European Economic Area (EEA).

The free Metal Pay app enables people to buy and sell more than 65 cryptocurrencies and link directly with the user’s cash balance, according to a press release on Tuesday (June 7). In the U.S., Metal Pay user funds are FDIC-insured. The European expansion is applying the equivalent safeguards.

“We have been hearing from people across Europe that they wanted us to put Metal Pay into their hands,” said Marshall Hayner, co-founder and CEO of Metallicus.

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“We believe ease of use, security and compliance vastly increase the everyday utility of digital assets and unlock the transformative potential of these technologies for everyone, from consumers to FinTechs and financial institutions,” Hayner said.

Metallicus, headquartered in Silicon Valley and launched in 2016, is available in 45 states in the U.S. and 31 countries. The company recently teamed with Railsbank in London as part of its rollout in Europe. It also initiated other partnerships in both the EU and the U.S. and is planning to expand in Australia and Asia, according to the release.

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“The EU is home to numerous FinTech SMEs that need to be future-ready. With incoming EU identity verification requirements, Metallicus has the solutions to enable safe, compliant and secure transactions,” said Metallicus General Manager for Europe Benedikt Goetz.

Metal Pay in Europe offers users cryptocurrency trading, direct deposit of wages, bill payments, and 0% fees for USDC purchases. Users’ eMoney is protected in an EEA-authorized credit institution or the Bank of Lithuania.

Metallicus is aiming to create a customer-centric network that links traditional banking and digital assets. The company’s flagship products include Metal Pay and Proton, the only blockchain with a verified decentralized identity.