Crypto Payment Firm Mercuryo, Volt Partner to Launch Open Banking Transactions

Mercuryo, the London-based cryptocurrency payments company, has launched open banking payments in their cryptocurrency wallet, facilitated by payments gateway Volt, the companies announced Tuesday (April 12).

Used by more than 2 million customers across the globe, the real-time account-to-account payments (A2A) network offers Mercuryo wallet users and their business partners single-click payment solutions.

“We’re thrilled to be partnering with Volt, whom we share a very similar mission with — to enable faster, more secure and more cost-efficient payment experiences,” said Petr Kozyakov, CEO of Mercuryo.

Mercuryo said it is becoming one of the first cryptocurrency companies to incorporate open banking payments for consumers and businesses. Users can now purchase cryptocurrency in real time through an open banking transfer. Funds leave their bank account as their purchased cryptocurrency is deposited into a Mercuryo wallet in seconds.

The feature is likely to be popular among consumers seeking to quickly purchase cryptocurrency at a specific price and at a particular moment in time.

Mercuryo’s partnership with Volt comes on the heels of its expansion into Latin America, with other plans to open 10 regional offices this year in Africa, South America and Asia.

Since launching in 2019, Volt allows merchants and payment service providers to process payment transactions between accounts held at more than 5,000 banks in the U.K., EU and Brazil.

Last summer, Mercuryo notched $7.5 million in its Series A, which was headed up by Target Global.

See also: B2B X-Border Payment, Fulfillment Startups Land Investments

At the time, Mercuryo said it intended to use the infusion to grow into new markets and launch business solutions that would enable any company to become a FinTech without dealing with its complications.