The global demand for a convenient bridge between the worlds of digital and fiat assets is rising as crypto establishes itself as a natural alternative to the traditional financial system. The nascent technology has lasted a decade and continues to thrive and gain rapid acceptance despite fluctuations and other challenges. Cryptocurrencies are now more than an investment vehicle; they are also a tool for fast online payments and affordable money transfers.
As the industry grows, so does the need for the convergence of existing traditional and crypto financial tools that will completely transform the everyday financial flow for millions of users. This is the field where companies like Swapin operate.
While initially appearing in the market in 2017 under its former brand name PiixPay, Swapin has come a long way towards becoming the major crypto-to-fiat processing company it is today.
The family of Swapin products currently includes five relative crypto-to-fiat solutions targeted at both the B2B and B2C segments. Three products are geared towards the latter: InstaPay, InstaFill, and the newly added InstaBuy, which has significantly expanded the platform’s capabilities by enabling the purchase of cryptocurrencies for fiat money.
The first from the list of available crypto-to-fiat solutions is InstaFill. This tool connects a dedicated crypto wallet to the client’s bank account so that all received digital assets are instantly converted and delivered to the chosen bank account. This feature perfectly fits users looking for a reliable tool to convert and cash out regular crypto income from trading, mining, DeFi or NFT earnings, etc., directly to their bank account. InstaFill currently operates with nine significant crypto assets, including BTC, ETH, DASH, USDT, and USDC.
InstaPay is relatively similar to InstaFill but serves perfectly for one-off crypto-to-fiat payouts. The entire process is as easy as pie — all you need to do is link your Swapin crypto address and the desired bank account and transfer crypto to the linked crypto address. Once the crypto transfer has been completed, the coins will be exchanged, and the expected amount of euros will instantly hit your bank account. The list of accepted digital assets is similar to InstaFill.
As the Swapin team has ambitious plans for the ongoing year 2022, the next product to join the already vast Swapin product list is InstaBuy – a smooth and convenient option to purchase crypto right at your fingertips. The InstaBuy release is expected for the second half of the year, with more details to be disclosed shortly.
Swapin For Business
Their B2B product line also plays a significant role in the Swapin business model. E-com and CoinCollector have been crafted to cover the most common demands from the e-commerce sector. For instance, CoinCollector gives users the capability to create shareable links that already have all the required payment details. Their clients can easily pay with the digital asset of their choice in a few clicks.
As with many other Swapin services, the crypto is immediately converted into euros and delivered to the recipient’s IBAN account. The other product, E-com, serves as a compatible widget to empower online shops with reliable crypto-to-fiat gateways.
What’s essential is that Swapin is a licensed and regulated company operating under the supervision of the Estonian government. Thus, they meet the high standards of the EU financial watchdogs and guarantee the highest level of services provided with personal funds and data security.
Swapin 2022 Roadmap
Swapin is a fast-growing company that already plays a remarkable role in the European market, with further expansion scheduled for 2022 per their roadmap. The Swapin team plans to expand the user base significantly by entering several European regions. Germany, France, and more via localization and releasing several significant product updates. These product updates include an advanced brand mobile app with multiple languages available, adopting a virtual-IBAN issuance option, and updating their referral program.
The cherry on top might be an EMI (Electronic Money Institution) license acquisition scheduled for Q4 2022. In late 2021, Swapin successfully closed an investment round intended to reinforce company and product growth, which means there is much more unstoppable growth ahead for the company.