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 <p class="is-style-lead">Bitcoin was launched about fifteen years ago, aiming to revolutionize finance.&nbsp;However, most businesses are still yet to fully embrace crypto payments. Admittedly, there are billion-dollar crypto service platforms which are remarkable stories in their own right. However, integration of regular businesses and blockchain services is still a work in progress. This gap is what Banxe seeks to fill.</p>
 <h2 class="wp-block-heading" id="strong-exploring-banxe-strong"><strong>Exploring Banxe</strong></h2>
 <p>Banxe re-imagines banking in the crypto era.&nbsp;</p>
 <p>From the perspective of a typical business operator, crypto is too inconvenient a payment option to utilize. The logistics of crypto to fiat conversion and related security concerns with handling crypto make for a tough sell.</p>
 <p>For individual accounts, Banxe allows clients to manage their digital assets and fiat from one location. More importantly, the Mastercard debit card is delivered for free, and there are no monthly charges, similar to those of some providers.&nbsp;&nbsp;</p>
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 <p>On the other hand, Banxe ensures that businesses have convenient <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a> accounts globally. This tool ensures that merchants can manage their assets from one account. For convenience, businesses can make local and international transfers with dedicated IBAN. This means they will be free to trade <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>, exchange fiat, and transfer <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>.&nbsp;</p>
 <p>Accordingly, it is possible for businesses to receive funds from exchanges without any limitation. The Banxe corporate crypto wallet presently supports over 350 coins. Corporate clients can switch between the crypto wallet and Banxe’s non-custodial Pro Wallet whenever they want to transfer or store crypto.</p>
 <h3 class="wp-block-heading" id="strong-integration-of-crypto-with-traditional-banking-strong"><strong>Integration of crypto with traditional banking&nbsp;</strong></h3>
 <p>Take a regular transaction for a crypto owner or a business that only accepts crypto. You would need to transfer your crypto to a crypto exchange. You would then convert the crypto to fiat at a fee, transfer the cash to a bank account, and finally withdraw or pay the business directly. This process is tedious, time-consuming, and can incur significant costs.&nbsp;</p>
 <p>Banxe creates a single account for all these processes at very affordable rates. Instead of transferring money multiple times, a standard crypto payment with Banxe means you can complete USD, GBP, or EUR transactions to a crypto recipient at a fraction of the cost in a few minutes.</p>
 <p>For those wary of volatile cryptocurrencies, USDT and USDC are stablecoin options for fiat-to-crypto transfers. Banxe supports over 350 cryptocurrency payment options with top coins and tokens like BTC, XRP, BNB, and ETH available for crypto enthusiasts.&nbsp;</p>
 <p>Fiat currencies like the USD, the EURO, and the British Pound (GBP) are traditional payment options. These currencies cover a significant chunk of global transactions, and most interactional businesses should be comfortable with support for these options.</p>
 <h2 class="wp-block-heading" id="strong-banxe-strong-features"><strong>Banxe</strong> features</h2>
 <ol>
  <li>Dedicated International Bank Account Number (IBAN) for users – This feature is unavailable for typical crypto accounts and has hindered crypto adoption.</li>
  <li>Euro, USD, and GBP accounts, making business remarkably easy internationally.</li>
  <li>Gives users the ability to make SWIFT, Single Euro Payments Area(SEPA), Faster Payment System(FPS), and CHAPS transfers.&nbsp;</li>
  <li>On-chain and Off-chain crypto transactions – A feature you don’t get with traditional bank accounts.&nbsp;</li>
  <li>Users can top-up their debit card using crypto.</li>
  <li>Business and individual accounts are available, making Banxe the perfect one-stop shop for any entrepreneur.</li>
 </ol>
 <p>These advantages mean that users get the best of both worlds and conveniently transfer coins anytime of the day without having to wait for transactions to be processed once banks are open. You can enjoy the freedom of crypto transactions without giving up the convenience of long-established international banking systems.</p>
 <p>For businesses, this is a remarkable boost to the ability to service both customers who prefer using <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> and those who use regular currencies.</p>
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 <p>Therefore, this is an integrated tool that can straddle both sides of the financial divide. There is no need to view crypto and regular currencies as polar opposites. Most businesses will pick the national currency side for convenience and stability. With Banxe, you no longer have to make that decision and can be a business that meets customers where they are.</p>
 <h2 class="wp-block-heading" id="strong-the-banxe-debit-card-strong"><strong>The Banxe debit card</strong></h2>
 <p>Banxe provides users the option of acquiring a debit card to make payments on the go.&nbsp; Users can load their card from the Banxe account and complete payments seamlessly. Users get free delivery of their debit cards and no monthly fees.</p>
 <p>A debit card for a crypto account is a versatile tool. To illustrate, with Banxe, the card can be topped up anytime from anywhere with crypto. Moreover, Banxe allows easy switching between crypto and fiat payments, which is usually a bottleneck to owning cryptocurrency.</p>
 <h2 class="wp-block-heading" id="strong-pricing-for-different-entities-strong"><strong>Pricing for different entities&nbsp;</strong></h2>
 <p>Banxe has four pricing ranges for individuals and business entities.&nbsp;</p>
 <p>For individuals, they are as follows:&nbsp;</p>
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   <tbody>
    <tr>
     <td><strong>Individual Account Type</strong></td>
     <td><strong>Region</strong></td>
     <td><strong>Monthly Fee for IBAN Account</strong></td>
    </tr>
    <tr>
     <td>Maui Whale</td>
     <td>For UK Residents</td>
     <td>Free&nbsp;</td>
    </tr>
    <tr>
     <td>Beluga Whale</td>
     <td>For EU Residents&nbsp;</td>
     <td>Free</td>
    </tr>
    <tr>
     <td>Minke Whale&nbsp;</td>
     <td>Other Countries&nbsp;</td>
     <td>€10</td>
    </tr>
    <tr>
     <td>Blue Whale</td>
     <td>Specific listed countries with unique regulations</td>
     <td>€25</td>
    </tr>
   </tbody>
  </table>
 </figure>
 <p>For businesses, they are as follows:&nbsp;</p>
 <figure class="wp-block-table">
  <table>
   <tbody>
    <tr>
     <td><strong>Business Account Type</strong></td>
     <td><strong>Region</strong></td>
     <td><strong>Monthly Fee for IBAN Account</strong></td>
    </tr>
    <tr>
     <td>Maui Whale</td>
     <td>For UK businesses</td>
     <td>Free&nbsp;</td>
    </tr>
    <tr>
     <td>Beluga Whale</td>
     <td>For EU businesses&nbsp;</td>
     <td>€10</td>
    </tr>
    <tr>
     <td>Minke Whale&nbsp;</td>
     <td>Other Countries&nbsp;</td>
     <td>€25</td>
    </tr>
    <tr>
     <td>Blue Whale</td>
     <td>Specific listed countries with unique regulations</td>
     <td>€100</td>
    </tr>
   </tbody>
  </table>
 </figure>
 <p>Notably, the maintenance fees can vary slightly depending on the nature of business activity and region in addition to standard transaction rates. Special rates for a customer can be negotiated individually to suit specific needs. Regardless, the rates are always affordable and ensure that businesses can efficiently operate internationally.</p>
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 <h2 class="wp-block-heading" id="strong-regulatory-compliance-strong"><strong>Regulatory compliance&nbsp;</strong></h2>
 <p>The financial sector has different regulatory requirements in various jurisdictions. Banxe’s services operate under the following licenses or are registered to ensure smooth operations:&nbsp;</p>
 <ol>
  <li>In the EU – Banxe’s services are licensed by the Financial Intelligence Unit (FIU)</li>
  <li>The UK – Banxe’s services are registered in the UK as an Electronic Money and Payment Institution by the Financial Conduct Authority (FCA).&nbsp;</li>
  <li>The USA – Banxe’s services are registered as a Money Service Business by the Financial Crimes Enforcement Network (FinCEN)</li>
  <li>Canada – Banxe’s services are registered in Canada as a Money Service Business with FINTRAC.</li>
 </ol>
 <h2 class="wp-block-heading" id="strong-team-strong"><strong>Team</strong></h2>
 <p>Banxe launched in 2019 with a vision of creating a multi-currency payment account for individuals and businesses. Over the past four years, this platform has grown to become a global platform serving users in dozens of countries.&nbsp;</p>
 <p>The current leadership team is as follows:&nbsp;</p>
 <ol>
  <li>Alex Guts- CEO</li>
 </ol>
 <ul>
  <li>Alex has served as CEO since July 2021 and is in charge of steering Banxe to become the bridge between traditional banking and the blockchain.&nbsp;</li>
 </ul>
 <ol start="2">
  <li>Sasha DiMarsico – chief communications officer and co-founder&nbsp;</li>
 </ol>
 <ul>
  <li>Sasha has over 15 years of experience in marketing, communications, management, and product development. She is one of the Founding members of Banxe and is in charge of communications.</li>
 </ul>
 <h2 class="wp-block-heading" id="strong-customer-support-strong"><strong>Customer support</strong></h2>
 <p>Banxe features rapid customer support, with responses to queries usually provided within 15 minutes. Support is crucial for crypto-related crypto services as many people are still coming to terms with this currency. Accordingly, the service has a customer service term at hand to guide users through any documentation or inquiries they may have.</p>
 <h2 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion&nbsp;</strong></h2>
 <p>Banxe allows businesses to get the best of both worlds. Businesses and individuals have a secure and innovative way to handle <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> and fiat <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a>s hassle-free. Such bridges are vital in creating a world where <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> is part of the financial mainstream, onboarding millions of users for businesses. Banxe seeks to grow together with partnering businesses in this digital dispensation.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/banxe-review-banking-platform-with-crypto-payments-tbt72605.html">https://thebittimes.com/banxe-review-banking-platform-with-crypto-payments-tbt72605.html</a></p>

Banxe review: banking platform with crypto payments

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