New Euro IBANs and vIBANs, Instant SEPA, and Digital Currency Conversions

New Euro IBANs and vIBANs, Instant SEPA, and Digital Currency Conversions

January 18, 2024

1️. Organise your finances and simplify bookkeeping through Euro accounts

Nominative IBANs

Fipto’s new nominative IBANs enable you to legally send and receive money to/from your business counterparts, associating your company’s name as the official originator/beneficiary within your IBAN. What is more, you can generate multiple Euro accounts with dedicated IBANs, so that you can set aside your tax money or any budget for instance.

Note: currently, all our IBANs are French and begin with “FR”.

Virtual IBANs

Virtual IBANs act as 'sub-IBANs,' presenting a distinct IBAN code linked to a 'main' IBAN. This means that if money is directed to a virtual IBAN, it will be routed to the main account.

Consider this example: envision yourself as a manufacturer producing technical equipment, and selling them to retailers across various countries. With virtual IBANs, you can generate a unique IBAN for each country, for each retailer, or even for each invoice, simplifying your bookkeeping and facilitating reconciliation for each transaction. In essence, virtual IBANs ensure your books stay organised, allowing you to effortlessly track payments and reconcile invoices.

2️. Pay and get paid, or invest in Digital Currencies

Conversions from/to 9 Digital Currencies including BTC, ETH, USDT, USDC

As a registered Digital Asset Service Provider (DASP) by the French Financial Markets Authority (AMF), our mission at Fipto is to offer businesses a compliant and secure bridge between Digital and Traditional Currencies. Whether your objective is to invest in Digital Currencies, off-ramp (i.e. convert Digital to Traditional Currencies) your revenue, or expedite payments using stablecoins, you can now initiate a Request For Quote (RFQ) Euro to Digital Currencies directly from your Fipto account. Our trading experts will be in touch with you to settle your conversion.

Note: you can choose from a selection of 9 Digital Currencies, including Bitcoin - BTC, Ethereum - ETH, Circle USD - USDC, Tether USD - USDT, Cardano - ADA, Avalanche - AVAX, Solana - SOL, Polygon - MATIC, Tezos - XTZ, and more options to come.

3️. Send and receive money through SEPA Instant Credit Transfers or Blockchain

SEPA Instant Credit Transfers and International Transfers in Digital Currencies

At Fipto, we recognise that transaction speed and efficiency are crucial for every Treasury Manager. That's why we have adopted a distinct approach to transfers within the SEPA zone, making Instant SEPA transfers the default option for all our customers on eligible transactions, without any additional cost. This enables your eligible transactions to be sent or received within 30 minutes.

Note: please be aware that only transactions up to €100,000 are eligible for Instant SEPA, and this service may vary based on the originator/beneficiary bank.

For any amount exceeding 100,000 euro and/or outside of the SEPA zone, Fipto offers a compelling and efficient alternative through Euro to stablecoins conversions. Initiate a conversion from EURO to USDC or USDT. Settle payments in Digital Currencies within minutes with your business counterparts.

Share this post
January 18, 2024

Get Started Today

Book your free demo

Set up your account and begin making and receiving payments in seconds. Or, contact us to design a custom package for your business.