Crypto Startup Orca, MisterTango Partner On SEPA Paymentsbr>
EU-based FinTech firm Orca Alliance is collaborating with Lithuanian e-money firm MisterTango to develop solutions for SEPA (Single Euro Payments Area) payments.
The Orca Alliance is a community-based initiative which promotes the large-scale adoption of cryptocurrencies through the Orca platform. Orca aims to be the first platform of its kind to globally integrate both banking and cryptocurrency accounts, as well as spearhead the growth of the crypto-economy. The platform will take advantage of the EU’s revised Directive on Payment Services (PSD2), which empowers account holders with the authority to share data, removing the financial institution’s role as gatekeeper.
Mistertango is an electronic payment company that provides free bank account and payment services for EU citizens as well as payment collecting services for online stores. It 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 develop solutions for SEPA payment account creation using technology utilized by MisterTango. The partnership will allow Orca to set up SEPA accounts and initiate payments on behalf of platform users for a fiat and crypto experience inside the same digital application. Orca plans to start distributing debit cards during the last quarter of 2019.
Natan Avidan, CEO of Orca, said that the MisterTango collaboration is first significant partnership for the firm outside the cryptocurrency space.
“Having industry’s rising star such as MisterTango as our partner is a big deal for us,” Avidan said. “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 believes that MisterTango’s vast network of payment options and operational convenience will go a long way to help ensure Orca platform’s quality of service.
“ORCA is entering the market at an exciting time to bridge traditional payments with the world of cryptocurrency,” said Gabrielius Bilkstys, business manager of MisterTango. “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.”