Mobilum Technologies Inc announced the launch of its crypto-to-fiat off-ramp product via gift cards, debit and credit cards.
The off-ramp complements Mobilum's fiat-to-crypto on-ramp and completes the ecosystem, the Vancouver-based company said in a statement.
The functionality converts digital assets back to fiat currency through gift cards from major retailers across 80 different countries with over 2,000 retail brands without any fees.
"This new product feature opens up a significant revenue stream for the company, and we are excited to see the continued customer and market demand for these services," said Mobilum CEO Wojciech Kaszycki.
"Off-ramp services are an evolving and core part of our product strategy, our goal is to ensure our partners and customers have a secure, compliant and efficient payments ecosystem to entrust and move in and out of."
Mobilum also announced that its wholly-owned subsidiary, XPort Digital Limited, has signed an initial agreement with PhyloPay, an online back office solution that offers accounting, vendor management, payroll and procurement services.
The agreement would see XPort integrate its simple fiat-to-crypto and crypto as a form payment acceptance widget into PhyloPay's back-office solution.
Separately, XPort Digital and PhlyoPay will establish a long term partnership and new entity with the intent to offer a global back office solution to process crypto and fiat throughout the platform's various features.
Mobilum is a technology driven Payment Service Provider (PSP) with a mission to make traditional finance accessible through digital payment infrastructure and digital asset management technologies.
The firm has offices in Canada, Hong Kong, Poland and Estonia.
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