There’s no doubt that the crypto market is going through one of its most challenging times following the recent sharp downturn.
While this has resulted in many firms scaling back or worse, one crypto fintech is going from strength to strength.
SG Veteris, headquartered in London, bridges the gap between crypto and best-in-class fintech to expand the ways in which people can buy, sell, deposit, and withdraw cryptocurrency and to allow instantaneous crypto payments and transactions.
The Covid-19 pandemic accelerated the online economy and the shift to online shopping, and SG Veteris aims to make crypto payment acceptance and movement quicker and less complicated for everyone.
“We’re obsessed about helping businesses to innovate faster and operate globally and keep up with internationally recognized brands such as Apple and PayPal who are starting to enter the crypto space. We also want to provide more choice and make it easy for individuals to adopt and integrate cryptocurrency into their everyday lives.”
According to its CEO, Anil Oncu
With a growing number of consumers wanting to pay with cryptocurrency, SG Veteris provides businesses of all sizes with a secure and easy way to accept online payments, unlock new checkout experiences, and grow their businesses.
It provides a range of consumer and business-to-business services, including:
Bitpace: a trading and payment gateway that provides businesses with a leading e-commerce tool to accept instant payments in a range of cryptocurrencies for their products and services, offering the best and biggest alternative to Fiat payment methods.
Koinal: a global crypto trading platform that provides a fast, easy and secure way to instantly buy, sell, deposit, or withdraw the most popular cryptocurrencies 24/7 through credit and debit cards, bank transfers, and Apple Pay.
OTC Trading: a discreet, personal, one-to-one, over-the-counter service for institutions and
Individuals wanting to trade high cryptocurrency volumes (over £100k), supporting 100+ coins and comprehensive coverage in over 100 countries.
European growth
Last year it opened an office in Bulgaria which has, in recent years, rapidly become a leading hub for the fintech sector and cryptocurrency trading, as well as a center for international cryptocurrency events.
Martin Bohorov, Managing Director of SG Veteris Europe and head of its Bulgarian office, explains: “Its strategic location in south-east Europe, its positive economic development trend, and ease of access to markets such as the EU made it an attractive location.”
Bulgaria has proven to be a preferred operational hub in particular, since it also has a young, skilled, multilingual, and tech-savvy population, creating a dynamic job market nowadays.”
In the last couple of months, the company has also launched in Lithuania and Estonia. Lithuania is a developed and vibrant market that supports innovation and offers excellent growth opportunities, and it is seeing many major players entering the territory.
Bohorov adds: “We are looking at expanding in a number of reputable jurisdictions to offer peace of mind for our customers and demonstrate that we are a safe, secure provider so they can use our services with confidence. Both Lithuania and Estonia are prominent markets for cryptocurrency and blockchain businesses and are well-regulated, making them among the safest places to set up a company and do business.”
The company’s commitment to high standards is reflected in its appointment of industry heavyweight Raul Malmstein, former head of Estonia’s financial regulator, to head up its office there and help it navigate a fast-changing commercial and regulatory landscape.
It has also just appointed former Danske Bank executive, Tautvydas Sūnelaitis, as money-laundering reporting officer (MLRO) for its Lithuanian office.
Future opportunities
Going forward, SG Veteris predicts we are on the cusp of building a new generation of financial services, and it is looking to create new experiences in sending, spending, saving, and managing money in a way that straddles crypto and traditional fintech.
Despite the recent challenges the market has been facing, crypto payments have remained stable so far this year, and it believes the challenge will be to manage the accelerated pace of change and keep adapting to it.
“We’re excited about launching in even more countries as we are seeing consumer behaviors shift and crypto payments becoming more popular and in demand. We recognize that there are still some hurdles to be overcome before crypto adoption becomes mainstream and widely used, and the introduction of regulation across the world will boost its benefits and curb potential threats.”
Oncu emphasizes
SG Veteris is setting the bar high across all its operations so it is ready as and when a new regulation is introduced around the world. It is looking ahead to see how the market evolves in order to seize the rising opportunities around the growth of cryptocurrency and blockchain technologies.
SG Veteris believes new regulations will help confirm its validity. It aims to keep exploring what can be achieved with crypto and how it can help consumers incorporate it into their everyday lives and help businesses adapt their offerings accordingly.
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