Mobilum Technologies Inc, a technology-driven company making digital assets and cryptocurrencies accessible through traditional finance and payment infrastructure, said it has signed a service agreement with ZEN.COM to provide Mobilum customers with a dedicated virtual International Bank Account (IBAN).
ZEN.COM, an international fintech company with an e-money license issued by the central bank of Lithuania, provides a comprehensive suite of digital products and services such as a payment card, multi-currency IBAN account, online payment platform as well as associated unique benefits and additional customer protection.
"We are very excited to be moving forward with the agreement with ZEN.COM and having the ability to provide dedicated bank accounts to digital asset companies and digital asset users worldwide," Mobilum Technologies CEO Steven LaBella said in a statement.
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Mobilum, the first solution provider of Fiat-to-Dex Tokens rails, said under the agreement, ZEN.COM will provide the Euro back-end and fulfilment infrastructure to Mobilum's settlement accounts, whereby Mobilum can now provide virtual IBAN accounts to enable its clients to transfer funds and remit crypto transactions via the Single Euro Payments Area (SEPA) transfer.
"We are extremely delighted to start cooperation with Mobilum that enables us to build the bridge between the world of digital and traditional assets,” said Michał Bogusławski, ZEN.COM’s chief commercial officer.
“Thanks to the partnership, ZEN's embedded financial infrastructure gives Mobilum the opportunity to offer their clients virtual IBANs for withdrawing and receiving fiat currency via SEPA. The payment-on-behalf and collection-on-behalf make payments processing simpler and faster, while fraud and reconciliation errors are significantly reduced," he added.
ZEN.COM operates in 31 European countries and is a direct partner of many payment organizations such as Mastercard, VISA, American Express, and Union Pay.
Contact the author at jon.hopkins@proactiveinvestors.com