Digital currency and payments platform Advcash has partnered with Mercuryo, a global payments infrastructure provider, to offer banking-as-a-service to its users. With Mercuryo’s platform, any business can open a bank account as well as interact with cryptocurrencies and convert them into fiat currencies, according to a press release.

The platform will offer virtual international bank account numbers to enable frictionless cross-border payments for EU and UK residents, the release said.

“The Mercuryo team has been working hard over the past few months to bring banking-as-a-service to the market,” Petr Kozyakov, co-founder and CEO of Mercuryo, said in the release. “I’m very excited that Advcash will be our partner in integrating this white-label product for millions of users, and I have no doubt that this partnership will be an excellent use case for the future of the embedded finance industry.”

About Mercuryo

Mercuryo is a crypto payment processor co-operated by three companies  MoneySwap OÜ, Estonia, Moneymaple Tech Ltd, Canada, and Moneytea Ltd, United Kingdom. MoneySwap is a licensed crypto company, Moneymaple is a registered Money Services Provider (MSB), and MoneyTea is a registered FCA agent, controlled by the Russian Petr Kozyakov.

We have discovered Mercuryo as a payment facilitator in several broker scams and therefore include it in our “Red Compliance Light” list.

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About Advcash

Advcash offers FIAT and crypto payment services in a partnership with crypto exchanges such as Binance. Moreover, it offers SEPA and IBAN services to individuals and merchants. Advcash also offers multi-currency debit cards. Clients can fund their accounts in USD, EUR, RUB, KZT, UAH, and BRL.

We have identified Advcash as a payment facilitator in some scams and hence include it in our “Orange Compliance Light” list.

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