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EU-based fintech ORCA just signed a partnership with an e-money institution MisterTango making the first step into the world of payment processing. From now on ORCA, a platform bridging traditional banking and cryptocurrency services will have the ability to develop solutions for SEPA payment account creation using technology utilized by MisterTango.
Moreover, in the future ORCA will also be able to issue debit payment cards. Only a handful of companies in the cryptocurrency space can offer these services at the moment. ORCA aims to join the list before the end of this year. Cooperation with a licensed e-money service provider is opening a lot of doors for the evolution of the ORCA project. Identifying and securing beneficial partnerships is one of the fastest ways to grow the digital business.
MisterTango is one of the fastest growing payment processor enterprises in the region and has grown more than 20 times in revenue and scope over the last year. The newly formed partnership will enable ORCA to set up SEPA accounts and initiate payments on behalf of platform users for a seamless fiat and crypto experience inside the same digital application. MisterTango’s vast network of payment options and operational convenience will go a long way to help ensure ORCA platform’s quality of service.
"Having industry’s rising star such as MisterTango as our partner is a big deal for us. The ability to open SEPA accounts also greenlights our plans to issue ORCA card, a service our community is eagerly looking for. Our team will start working on it ASAP”,- ORCA’s CEO Natan Avidan commented. It’s the first significant partnership for ORCA outside the cryptocurrency space.
ORCA plans to start distributing debit cards during the last quarter of 2019.
Bridging traditional banking and crypto
ORCA is staying on the course to make cryptocurrency markets more accessible to average consumers and crypto adoption to another scale. One of the reasons stopping rapid expansion is the issue of lacking infrastructure which makes it hard for people to acquire, manage and transfer crypto assets. Currently, there’s no lasting solution which allows combining crypto finance with conventional money accounts, a strange problem to have in the digital age.
More often than not, people who have just entered the space face difficulty when trying to find out how to safely acquire and trade their coins. Different wallets support an only limited amount of coins; crypto exchanges have a finite amount of trading pairs while trying to participate in Initial Coin Offerings (ICOs) can be incredibly frustrating. Also, there’s always a possibility of being scammed by malicious agents or software when operating in the cryptocurrency space.
“ORCA is entering the market at an exciting time to bridge traditional payments with the world of cryptocurrency. We see it as a huge opening to attract new clients. The digital coin market is expanding, and anyone able to offer ways for easy portfolio management will be on demand in the market”,- said Gabrielius Bilkstys, business manager of MisterTango.
ORCA is working to include cryptocurrency accounts and exchanges into its Open Banking platform to finally solve the puzzle of efficient financial management, for both cryptographic coins and traditional currencies. Using ORCA app, users will be able to make instant transfer between their wallets and exchanges. Moreover, they will be able to convert crypto assets to traditional currencies with ease instantly.
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Last modified (UTC): June 2, 2018 4:56 PM