Crypto-Friendly Current Accounts Offered By Crypto Exchange Coinfloor, Enumis

News | May 30, 2019 By:

British cryptocurrency exchange Coinfloor has partnered with electronic money institution Enumis to offer fiat current accounts.

Founded in 2013, Coinfloor, which includes the closely held Chicago-based proprietary trading firm DRW, Transferwise founder Taavet Hinrikus and venture capital firm Passion Capital among its investors, runs the largest UK-based cryptocurrency spot exchange in London. Last year, it became the first offshore company to secure a distributed ledger technology (DLT) license in Gibraltar.

The Coinfloor-Enumis crypto-friendly current accounts is aimed at businesses operating in the crypto space and has been created specifically to meet the demand for a trustworthy domestic fiar current account on the Fast Payments network. It will allow for the deposit and withdrawal of funds via CHAPS, BACS and, 24 hours a day, UK Faster Payments. The fiat current account will also allow clients to reduce costs with free GBP deposits and withdrawals into and out of their Coinfloor accounts.

“Crypto-focused businesses are growing at a steady pace, but until now, no reliable banking facilities have existed to help them manage fiat and crypto finance operations in an effective manner,” said Obi Nwosu, Founder & CEO of Coinfloor. “Our partnership with Enumis will ensure that this will no longer be an issue.”

The new service, which is part of Coinfloor’s wider strategy to build a trusted, reliable and secure set of cryptocurrency financial services to bridge the fiat and crypto worlds, allows clients to access their account 24 hours a day online and undertake regular banking functions, such as setting up Direct Debits and Standing Orders.

“With our joint pedigree and market expertise in the cryptocurrency and financial services spaces, we hope that this offering designed by members of the crypto community for the community will help the community of crypto businesses overcome their financial limitations and drive the crypto economy forward,” Nwosu said.