Interesting crypto exchanges on PayNews42

Five Interesting And Safe PayTechs Of 2022

The crypto scene is on alert after the collapse of the third-largest crypto exchange FTX. Allegedly, more than a million people have lost their money. A crisis of confidence has broken out in the crypto and fintech segment. Many hyped fintechs, paytechs, and crypto companies could soon run out of money. Thus, together with PayRate42, we have a list of some PayTechs that are interesting and safe for now!

1. N26 (PR42 Profile)

N26 is a German fintech headquartered in Berlin, Germany. The BaFin-licensed neobank was founded in 2013 by Austrians Valentin Stalf (Linkedin) and Maximilian Tayenthal (Linkedin) in a Rocket Internet Incubator. N26 should have sufficient funding and also offers interesting solutions for merchants. In addition, N26 has recently expanded its offering (like Revolut) to include investment services. N26 customers can also buy cryptos via the app.

2. Revolut (PR42 Profile)

Revolut is a UK-based fintech that offers banking services. Headquartered in London, it was founded in 2015 by Nik Storonsky (LinkedIn) and Vlad Yatsenko (LinkedIn). In July 2021, the company raised $800 million in Series E funding, valuing the business at $33 billion. Revolut holds a EMI license in the UK and banking licenses and several European jurisdictions. Revolut offers its services to individuals and businesses and also accepts high-risk merchants. It is also interesting to note that, like N26, you can also buy crypto as well as stocks via the Revolut app. The company seems to be sufficiently funded and regulated.

3. Klarpay (PR42 Profile)

Klarpay is the trading style of Klarpay AG, a company registered in Zurich and regulated by the Swiss Financial Market Supervisory Authority (FINMA). The FinTech was founded in 2019 by former BDSwiss managers. FINMA-regulated Klarpay specializes in online merchants and digital business models, including influencers and high-risk businesses. A few months ago, Payabl Group invested CHF 3 million. Therefore, sufficient funding should be available.

4. Wise (PR42 Profile)

Wise is an e-Money Institution (EMI) regulated by the UK Financial Conduct Authority (FCA). The London-based online money transfer service was established in 2011 by Estonians Kristo Käärmann (Linkedin) and Taavet Hinrikus (Linkedin). Wise offers virtual accounts along with debit cards for individuals and businesses. In addition, as with N26 and Revolut, shares can be purchased via the app. However, Wise has not yet entered the crypto space. It doesn’t accept payments from crypto exchanges and you can’t buy cryptos either. The company is profitable and adequately funded.

5. CurrencyTransfer (PR42 Profile)

If you are looking for a forex payment provider, CurrencyTransfer is an attractive alternative. The UK-based foreign exchange aggregator accepts individuals and merchants, offers live exchange rates, and allows users to post their transfers. Founded in 2014 by Daniel Abrahams (Linkedin) and Stevan Litobac (Linkedin), CurrencyTransfer Limited is FCA-regulated and is based in London, England. The founders still control the entity via The Currency Transfer Group Ltd, also based in the UK. The company also has offices in Tel Aviv, Israel.

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