Global cryptocurrency exchange CEX.IO has selected OpenPayd, a leading financial infrastructure provider, to support its worldwide fiat payment operations and institutional settlement activities.
The integration aims to simplify fund movement across CEX.IO's 15 million retail and professional customers globally. OpenPayd's infrastructure provides CEX.IO with multi-currency accounts in USD, GBP, and EUR, along with integrated foreign exchange capabilities. This allows for more effective treasury administration and streamlined fund transfers.
Specifically, the partnership supports EUR payment flows via SEPA and SEPA Instant, enabling near real-time settlement for euro-denominated transactions. By consolidating these flows into a single environment, CEX.IO gains a unified treasury perspective, facilitating quicker reconciliation, smoother settlement, and increased control.
Iana Dimitrova, CEO at OpenPayd, stated, "By choosing OpenPayd and consolidating fiat settlement into a single environment, CEX.IO is building the operational foundation required to support its next phase of growth."
Arina Dudko, Head of Corporate Payment Solutions at CEX.IO, added, "This integration reflects our focus on closing that gap. By embedding OpenPayd’s real-time EUR settlement and unified treasury capabilities, we’re aligning our infrastructure with the standards institutions are used to."
This move signifies a broader shift among digital asset exchanges to enhance fiat infrastructure, driven by increasing institutional engagement in crypto markets. OpenPayd's regulated infrastructure allows CEX.IO to offer regulated, real-time EUR settlement without the friction of fragmented banking arrangements.
CEX.IO, a pioneer since 2013, has evolved from a Bitcoin mining pool to a comprehensive platform serving over 15 million users with services for buying, storing, trading, selling, sending, and earning digital assets. It was the first exchange to support credit card transactions.
OpenPayd, founded in 2018, provides a unified API for global money transfer and management of both fiat and digital assets. Its services include embedded accounts, foreign exchange, payments, Open Banking, and stablecoin on/off ramps, enabling real-time money movement.