Cabital Adds SEPA To Growing Payment Methods List
Leading digital assets institution Cabital has launched in the European market with the announcement it has added the European Union’s Single Euro Payments Area (SEPA) to its growing list of payment methods. Cabital Earn is a cryptocurrency wealth management platform that lets users passively earn up to 12% APY. With SEPA, Euro holders can instantly convert euros to cryptocurrencies and back, in addition to all other payment options and currencies. The company also claims it does this at the best rates in the industry. Better still is Cabital stating it doesn't have any requirements for minimum nor maximum deposits, and also does not charge fees for depositing digital assets on the platform.
So, what is the SEPA region? It’s an area that consists of 36 European countries, including several countries which are not part of the euro area or the European Union. SEPA allows customers to make cashless euro payments – via credit transfer and direct debit – to anywhere in the European Union, as well as a number of non-EU countries, in a quick, safe and efficient way, just like national payments.
According to Raymond Hsu, Cabital’s co-founder and CEO,
“The SEPA integration is a major milestone that enables customers to easily move to and from cryptocurrency in a fast, safe and secure manner. The announcement has transformed Cabital into a full-service cryptocurrency wealth management and savings platform, where users across the European Union can deposit their digital assets to earn up to 12% a year without any hidden fees. Integrating SEPA provides Cabital with significant competitive advantages. As we further expand across Europe and execute our strategic priorities, we will continue seeking efficient and secure on-ramps that will allow our customers to easily and safely invest in cryptocurrencies and generate high-yield passive income”.
The company has also announced Jonas Narbutas, who previously worked in senior compliance roles at Western Union, has joined the leadership team as Senior Anti-Money Laundering Reporting Officer. Narbutas said,
“We are delighted to receive regulatory approval to integrate our business with SEPA. This reflects the trust and confidence placed in Cabital to make a lasting contribution to the long-term development of the European Union’s cryptocurrency industry. Cabital believes that regulating the cryptocurrency industry is essential to its sustainable growth. We will continue to further strengthen the industry’s level of legitimacy by leading in compliance risk and promoting a culture embedded in transparency and good business ethics. We are committed to playing our part in the further development of the European Union’s cryptocurrency industry as we plan to help millions of people across the region achieve their financial goals in a safe and sensible way”.
The SEPA integration provides Cabital with significant advantages in the EU. The company says its mission is “to empower people to earn passive income safely and securely with their cryptocurrencies,” and claims its Cabital Earn product offers “free bank deposits in euros, daily accrued interest, and makes it easy to track your crypto assets and invest whenever, wherever.”
Registered in the Republic of Lithuania as a cryptocurrency exchange operator and a cryptocurrency depository wallet operator, Cabital has entities incorporated in Singapore, Malaysia and Mainland China. The company carries out its activities in accordance with European AML/CTF principles and Financial Crime Investigation Service’s requirements and is subject to the EU’s GDPR requirements. Cabital was founded by Raymond Hsu in 2020. Prior to establishing Cabital, Raymond worked for over a decade holding leadership positions in fintech companies such as Airwallex and global banks including Citibank. Cabital’s leadership team has extensive experience working in leading traditional financial institutions, including JPMorgan Chase & Co, Nomura Securities, UBS and AIA Group.