Cabital Announces Sepa Integration
- 21.09.2021 11:15 am
Cabital, a leading digital assets institution, today announces that it has added the European Union’s Single Euro Payments Area (SEPA) to its growing list of payment methods, enabling customers to seamlessly change between euros and cryptocurrencies and generate high-yield passive income.
SEPA allows customers to make cashless euro payments – via credit transfer and direct debit – to anywhere in the European Union, as well as a number of non-EU countries, in a quick, safe and efficient way, just like national payments.
The SEPA region consists of 36 European countries, including several countries which are not part of the euro area or the European Union.
Raymond Hsu, Cabital’s Chief Executive Officer and Co-Founder, said:
“The SEPA integration is a major milestone that enables our customers to easily move to and from cryptocurrency in a fast, safe and secure manner. Today’s announcement transformed Cabital into a full-service cryptocurrency wealth management and savings platform - where users across the European Union can deposit their digital assets to earn up to 12% a year without any hidden fees.
“Integrating SEPA into our business provides Cabital with significant competitive advantages, providing us access to everyone in the European Union and beyond. As we further expand across Europe and execute our strategic priorities, we will continue seeking efficient and secure on-ramps that will allow our customers to easily and safely invest in cryptocurrencies and generate high-yield passive income.
“I am confident that the continued execution of our strategic ambitions will create long-term sustainable value for our customers and shareholders.”
Jonas Narbutas, Cabital’s Senior Money Laundering Reporting Officer, said:
“We are delighted to receive regulatory approval to integrate our business with SEPA. This reflects the trust and confidence placed in Cabital to make a lasting contribution to the long-term development of the European Union’s cryptocurrency industry.
“Cabital believes that regulating the cryptocurrency industry is essential to its sustainable growth. We will continue to further strengthen the industry’s unprecedented level of legitimacy by leading in compliance risk and promoting a culture embedded in transparency and good business ethics. We are committed to playing our part in the further development of the European Union’s cryptocurrency industry as we plan to help millions of people across the region achieve their financial goals in a safe and sensible way.”
The SEPA integration provides Cabital with significant advantages in the European Union. It allows our customers to easily purchase and sell cryptocurrency assets with euros with any amount at the best rates in the industry. They can also now passively earn up to 12% APY. Unlike many of our competitors, we do not have any requirements for minimum deposits nor maximum deposits. We do not charge fees for depositing digital assets on our platform.
Cabital’s competitors provide high yields on cryptocurrency assets for users who stake or lock their native tokens, putting their customers at risk during volatile market conditions. Cabital successfully achieves up to 12% APY on cryptocurrency without a native token through highly strategic investments that are safe, secure and always compliant.
Today’s announcement comes after Cabital’s recent successful $4 million seed round that was led by SIG, Dragonfly, and GSR, increasing our valuation to $40 million. That followed Cabital’s recent successful angel round when we raised $3 million.
Jonas Narbutas has recently joined the leadership team as Senior Money Laundering Reporting Officer based in Vilnius, Lithuania. Prior to joining, Jonas worked in senior compliance roles at Western Union for nearly a decade. He was also the Head of Anti-Financial Crime Governance at Luminor Group.