Finrax

Finrax is a payment processor for merchants that accepts cryptocurrency and automatically distributes receipts between settlement currencies. It provides an API, payouts to customers and fiat withdrawals to bank accounts in EUR, USD and GBP.

Services and clients The listed services are crypto payments, stablecoin settlement, fiat withdrawals and payouts. The crypto asset named is USDT. Clients are businesses, banks and merchants, and the service is provided in English. Exchange rates are advertised as fixed, although a numeric spread is not published.

Legal entity and offices The legal entity is Finrax Ltd., with addresses in Sofia, Bulgaria and in Vilnius, Lithuania. API documentation, including a crypto payment request method, is published online.

Availability in the EU The website states that CASP services are currently not offered to customers in the EU, and that the company awaits MiCA authorisation. This limits who can use the crypto services, and European businesses should confirm the position with the company before planning to rely on it.

Who it suits The processor is relevant for merchants outside the EU, or for companies serviced under other terms, that want to accept crypto and receive fiat in EUR, USD or GBP. Fees and limits should be agreed with the provider.