SCRYPT and Fiat Republic Join Forces to Supercharge Fiat On/Off Ramp Capabilities and Automation of Settlements
- 04.05.2023 10:05 am
SCRYPT, the leading Swiss-licensed crypto trading firm offering digital asset solutions for institutions, announced today a strategic partnership with London-based Fiat-as-a-Service platform Fiat Republic to supercharge SCRYPT’s fiat on/off ramp capabilities, as well as improve automation of customer settlements to its institutional trading platform.
This strategic partnership, bringing together two of the most promising and well-equipped companies in the industry, will improve SCRYPT’s trading services across borders and enable quicker settlement, as well as open up Fiat Republic‘s customers to SCRYPT’s leading trading solution, through SCRYPT’s membership in Fiat Republic’s Eaglenet instant fiat settlement network as a liquidity partner.
This announcement comes on the cusp of industry turmoil, including amongst others the collapse of Silvergate as well as the FED intervention into Silicon Valley Bank ‘SVB’ and Signature Bank NY.
Once again demonstrating SCRYPT’s agile approach to safeguard against market conditions, this partnership will ensure even more stringent internal controls through Fiat Republic’s laser focus on regulatory compliance.
Adam Bialy, CEO of Fiat Republic commented: "At Fiat Republic, we are proud to partner with like-minded organizations that share our mission to help crypto gain mainstream adoption and grow sustainably through increased data transparency and strict adherence to regulatory standards. We are thrilled to welcome SCRYPT to our network."
Norman Wooding, CEO and Founder of SCRYPT commented:"Crypto-fiat solutions are crucial in moving the industry forward, especially at this time, and we are proud to be taking this step to safer and more seamless services. By enhancing our technology, we will provide our clients with an even more secure and reliable way to access digital currencies."
SCRYPT’s record growth in the first quarter of 2023 was a testament to the impact of reliable and trustworthy counterparties in the industry. Driven by the company's commitment to client servicing, SCRYPT continues to combine its expertise and deep understanding of market structures to continue building strategic partnerships.