WhiteBIT partners with FINCI to streamline fiat to crypto transactions
Vilnius, Lithuania 7th November 2024.
FINCI announces a new collaboration with leading cryptocurrency exchange, WhiteBIT, to provide crypto-to-fiat on/off ramp services. With over 5 million users and an average daily trading volume of up to $2.5 billion, WhiteBIT is one of Europe’s largest and most trusted crypto exchanges.
The exchange has integrated with European payment provider FINCI to offer its users fast and secure euro transactions, with low transaction fees. This collaboration unites two leading fintech entities, facilitating seamless cryptocurrency purchases. While strengthening WhiteBIT’s reach and accessibility in the European market, where demand for crypto services has grown significantly.
The two partners also share a mission to make digital transactions more reliable and secure. FINCI has deep compliance expertise, with specialist cryptocurrency experience. WhiteBIT stores 96% of its assets in cold wallets, keeping customer funds safe from online threats. And both companies have robust compliance frameworks that ensure rock solid adherence to stringent international anti-money laundering and countering the financing of terrorism (AML/CFT) Regulations.
Better crypto trading with WhiteBIT.
WhiteBIT is one of Europe’s most respected crypto exchanges. Its innovative suite of tools bridges the gap between old and new finance, making trading faster, easier and more secure.
The centralised exchange offers a comprehensive range of trading options and is among the top 5 most secure exchanges in the world, according to cer.live. In September 2024, WhiteBIT received the Hacken Security Award 2024.
“By leveraging FINCI’s secure payments processing infrastructure, fiat transactions are now much faster and more convenient for our customers,” said Volodymyr Nosov, WhiteBIT СЕО. “This partnership greatly helps us on our mission to spread the mass adoption of blockchain technology, improve security and provide an excellent experience for our customers.”
Better digital payments with FINCI
FINCI is an Electronic Money Institution (EMI) that specialises in payment services for Virtual Asset Service Providers (VASPs). It leverages deep compliance expertise and industry know-how to provide swift, secure and seamless access to essential payment solutions. And with a scalable infrastructure built for digital currency transactions, FINCI offers API integration for automated account management and an easy-to-use online portal.
The company is also unafraid to pioneer new trends in the fintech space. It was one of the first companies in the Baltic region to start a digital asset-based card project with Mastercard. In 2023, the company also earned the Lithuanian Fintech Innovator of the Year Award for its implementation of instant cross-border payouts, using Ripple's blockchain technology.
“It’s an honour to collaborate with one of the biggest and most trusted cryptocurrency platforms in Europe,” said Mihails Kuznecovs, FINCI СЕО. “By connecting to our payments infrastructure, WhiteBIT can better manage on/off ramping and their client accounts, while at the same time greatly improving the customer experience.”
Crypto regulation fuels this innovation
European Union (EU) regulations are creating a more favourable marketplace for digital asset companies, enabling firms like WhiteBIT to thrive and EMIs like FINCI to better serve an industry that was previously difficult to reach.
That’s because the EU’s Markets in Crypto Assets (MiCA) regulation, which takes full effect in December 2024, provides a clear and detailed regulatory framework for cryptocurrency businesses. Its aim is to ensure transparency, protect investors, and improve market integrity.
Unlike the fragmented or uncertain regulatory environments in other regions, MiCA offers a uniform set of rules across all EU member states. It’s this regulatory certainty that gives businesses the confidence to innovate and operate within a stable legal framework.
So as Europe becomes an ever more attractive destination for crypto companies, there will only be more successful collaborations like this.
About WhiteBIT:
Established in 2018, WhiteBIT is one of the largest centralized crypto exchanges in Europe. It offers over 600+ trading pairs, 300+ digital assets, and supports 9 national currencies. WhiteBIT is an official partner of the Ukrainian national football team, FC Barcelona, FC Trabzonspor, and FACEIT. The exchange is dedicated to advancing blockchain technology and ensuring compliance with regulatory standards in all jurisdictions where it operates.
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