OpenPayd: accounts and payment APIs for businesses
OpenPayd is a payment infrastructure company with regulated firms in the UK and Malta. Businesses such as crypto exchanges and fintechs use its API for accounts, virtual IBANs, SEPA Instant payments and stablecoin on- and off-ramps. It holds no banking license.
Regulated payment companies in the UK and Malta
OpenPayd sells accounts, payments, foreign exchange and digital asset services to businesses and says it processes over $300 billion a year. Fiat services come from SettleGo Solutions Limited, an electronic money institution authorized by the UK Financial Conduct Authority, and from OpenPayd Financial Services Malta Limited, a financial institution authorized by the Malta Financial Services Authority. Custody, dealing and order execution for crypto-assets come from OP Digital Services Limited, a VFA service provider authorized in Malta.
Virtual IBANs and SEPA Instant
A business can issue an unlimited number of named virtual IBANs in several currencies, so each incoming payment is matched to the right customer without manual reconciliation. The crypto platform Wirex uses OpenPayd for SEPA Instant and Faster Payments, and Kraken works with it on its banking and payments infrastructure (OpenPayd). Virtual IBAN and instant payments in Europe explain both rails.
Stablecoins next to fiat
OpenPayd offers stablecoin services and on- and off-ramps next to its fiat accounts. Ripple works with OpenPayd to give enterprises access to its RLUSD stablecoin (OpenPayd). Stablecoin on- and off-ramps covers how such conversions work for European businesses.
Upcoming payments events in Europe
Payments & Digital Money
Is OpenPayd a bank?
No. Its UK company is an electronic money institution and its Malta company a financial institution; neither holds a banking license. E-money license explains the difference.
Where is OpenPayd based?
Its e-money company is registered in England. Its other two regulated companies, one for fiat payments and one for crypto-assets, are in Malta.
Accounts and stablecoins
OpenPayd and Finance Loop
Finance Loop covers virtual IBANs, instant payments and stablecoins in its Payments & Digital Money track. Fintechs, crypto firms and banks meet at Finance Loop events in Frankfurt and other German cities.
Finance Loop is a professional network and has the goal of driving the adoption of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.