Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Events
    • Technology Events in Europe
    • Submit your event
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Events
    • Technology Events in Europe
    • Submit your event
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact
No Result
View All Result
Silicon Canals
No Result
View All Result
Guest contribution by Mike Lobanov, COO & General Partner, Target Global

At Target Global, Mike is focused on investments in the fintech and e-commerce spaces, as well as the overall management of the firm.

Why we backed Mercuryo – a crypto infrastructure company making blockchain useful for businesses

Guest Contributor by Guest Contributor
July 1, 2021
in Guest Contributions, guestblog, Knowledge & Insights
Mercuryo

Mike Lobanov, co-founder at Target Global | Image credit: Target Global

54
SHARES
LinkedInTwitterWhatsAppFacebook

Blockchain technology has been in the spotlight for the past few years, and for a very good reason. It facilitates digital transformation, and the growing adoption of the technology provides new use-cases for consumers and opportunities for investors.

We at Target Global are constantly investing in infrastructure for crypto. We were backers of Cryptofacilities (acquired by Kraken) that was behind the BTC price index used as the base rate for CME futures. We backed Copper in 2019 that has become the leading infrastructure for institutional investors dealing with crypto providing a full suite of services: prime brokerage, custody and settlements. Now we backed Mercuryo – the best solution for crypto on/off ramp that opens up the usage of blockchain technology for businesses all over the world.

- Partner content -
digital skills dutch workforce
Salesforce’s report on Dutch workforce’s digital skills
Has the Dutch workforce mastered all digital skills? Find out
Has the Dutch workforce mastered all digital skills? Find out Show Less
Read more

Based on blockchain technology, cryptocurrencies feature continuously operating payment networks that entirely lack the need for intermediaries. For that reason, many companies have found success in implementing crypto for cross-border transactions, which generally go through inefficient payment networks in the traditional finance space.

According to the World Bank’s data, cross-border payments cost an average of 6.51% in Q4 2020 worldwide. In addition to the increased fees, international transfers can take up to five working days to arrive since the funds go through multiple correspondent banks before reaching the recipient.

In contrast, digital asset payments feature near real-time settlements (taking only 4-6 seconds to process) and 40-80% lower costs than traditional cross-border transactions, according to Deloitte. There are multiple use cases for such a product: B2B cross border payments and mass payouts just to name a few.

Due to the nature of blockchain technology, crypto payments can be easily tracked on the public ledger while featuring enhanced security through public-key cryptography and decentralised network architecture and consensus mechanisms. Blockchain technology has been increasingly piloted by multiple companies, including PayPal and MasterCard, which have announced their plans to integrate crypto payments into their networks.

Execution and user experience is key

DLT technology is still in the early stages of growth. For that reason, an appropriate infrastructure needs to be built around crypto and blockchain tech, so businesses within the industry can operate efficiently and in-line with the existing financial system. Everyone speaks about buying crypto, but it is apparently very hard to buy it – here is a great article on Coindesk describing what it really takes to convert fiat to crypto.

Founded in 2018, Mercuryo is now a global payment network that offers seamless fiat-to-crypto gateway services to businesses and private consumers. The company seeks to merge the disjoint digital asset and fiat worlds with a dedicated product portfolio. Currently operating services include a cryptocurrency wallet featuring an easy way to buy, exchange, transfer, and store digital assets, a widget for selling cryptocurrency via any online platform, and ever-growing crypto acquiring and OTC services.

Along with that, a new generation of products is about to be launched shortly. These innovations include fiat and crypto “in and out” services, Fintech Crypto SAAS for the banking sector, and mass payments for the GIG economy. Cross-border money transfers become faster, cheaper, and more straightforward with Mercuryo, as they result in only two operations: fiat-to-crypto and crypto-to-fiat exchanges. Sounds easy? Bitcoin buying also sounds easy till you actually try it yourself. As everywhere, execution is key.

Mercuryo is led by a team of seasoned operators from the payments space who know this industry inside out. It is the ease of usage that distinguishes Mercuryo from others. During the due diligence process I asked my team mate to download all the apps out there and try to buy crypto through them measuring “time to crypto” – what it takes from going to Appstore and downloading the app until crypto arrives in your wallet. Mercuryo came first with 6 minutes “time to crypto” – all in – KYC, funding, getting crypto. Second best result was 20 minutes and some apps took forever. Why does it matter? It shows the quality of crypto/fiat on/off ramp that is key for the suite of products the company is building – all of them effectively depend on that speed and UI.

It is not surprising traction is there – it is just a better product compared to anything in the market we have seen. We do not often see companies growing from EUR 1m ARR to EUR 10m ARR in less than 6 months.

We believe that existing payment methods with high fees, chargeback risks, and relatively slow transaction speed will quickly become outdated once the solid blockchain-powered payment infrastructure is built. We believe Mercuryo can become a game-changer in that respect. 

 - Partner content -
How cybersecurity scaleup Intigriti conquered the world?
How cybersecurity scaleup Intigriti conquered the world?
Catch our interview with Paul Down, Head of Sales at Intigriti.
Catch our interview with Paul Down, Head of Sales at Intigriti. Show Less
Read more
Tags: BlockchainfeaturedguestblogGuestpostPromoted content
Share4Tweet14SendShare22

Featured events

Current Month

may

28apr(apr 28)12:1331may(may 31)12:13FeaturedApplications for Techleap.nl’s Rise Batch 8 are open now

Techleap

Event Details

Are you an ambitious scaleup operating out of the Netherlands? Accelerate your growth with Techleap.nl’s Rise programme. Join their Batch #8!

Event Details

Are you an ambitious scaleup operating out of the Netherlands? Accelerate your growth with Techleap.nl’s Rise programme. Join their Batch #8!

Rise is an exclusive programme for serious tech players. In a trusted environment, scaleup founders share and discuss their growth challenges during tailor-made sessions with experienced entrepreneurs and scaling experts. Every quarter we select 10 companies to join the programme. It’s free, and we don’t seek equity. Check now if your company is eligible!

About Techleap

Techleap.nl’s programmes connect founders with scaling icons, industry experts and fellow tech entrepreneurs. It’s your chance to share challenges and hurdles with peers and established CEOs, and as a result, create favourable growth conditions for your business and overcome looming obstacles on your entrepreneurial path.

If you have any questions about the programme or the application process, please contact the Rise Batch Manager – Peter-Jan Kok at [email protected].

Apply here.

more

Time

April 28 (Thursday) 12:13 - May 31 (Tuesday) 12:13

Learn More

CalendarGoogleCal

CIRCL, AmsterdamGustav Mahlerplein 1B, 1082 MS Amsterdam, Netherlands

19may13:3018:00Featured5th Tech Summit: Get Ready for Exponential International Growth

Event Details

The Tech Summit yearly attracts >100 SaaS executives and PE/VC investors from all over the Netherlands. Several presentations and break-outs are filled with actionable thought leadership. Networking breaks

Event Details

The Tech Summit yearly attracts >100 SaaS executives and PE/VC investors from all over the Netherlands. Several presentations and break-outs are filled with actionable thought leadership. Networking breaks allow participants to connect with industry peers, exchange best practices and have a good time.

For more information and to register for the summit, please click here.

more

Time

(Thursday) 13:30 - 18:00

Location

CIRCL, Amsterdam

Gustav Mahlerplein 1B, 1082 MS Amsterdam, Netherlands

CalendarGoogleCal

june

Taets Art and Events ParkHemskade 16, 1506 PR Zaandam

16junAll Day17FeaturedTNW Conference

Event Details

Join TNW Conference in Amsterdam on June 16 & 17 to all you need to know about the latest market killers and breakout tech, connect with the industry’s who’s-who, and

Event Details

Join TNW Conference in Amsterdam on June 16 & 17 to all you need to know about the latest market killers and breakout tech, connect with the industry’s who’s-who, and turn your business meetings upside down on our ferris wheel… With endless networking opportunities, the world’s boldest voices, and unrivaled party vibes, this year’s TNW Conference will be off the charts!

Time

june 16 (Thursday) - 17 (Friday)

Location

Taets Art and Events Park

Hemskade 16, 1506 PR Zaandam

Learn More

CalendarGoogleCal

Partner content | Work with us

European Startups can expand to Asia through the South Korean Government’s K-Startup Grand Challenge

Running a small business? These 5 tips can create a domino effect of productivity across your entire company

Triller acquires Dutch DJ Sam Feldt’s Fangage to expand its platform for creators

Sweden’s Gimi partners with Dutch bank ABN AMRO to help young people manage and understand their finances

Calling all startups aiming to test their mobility innovations in the real world: Mobility Lab 2022 registration is now open

Silicon Canals | Jobs


Breaking news from Amsterdam | Partner

Amsterdam-based skills management software platform AG5 secures €1.2M from Peak to close the skills gap

International Day of Plant Health 2022: Six Amsterdam startups protecting plants for people and the planet

Amsterdam-based Expertwired raises €1M to scale its expert sourcing and matching platform

Amsterdam-based Mr. & Mrs. Watson launches first sliced cheese made from plant milk; raises Seed funding

  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy Policy
  • Cookie Policy (UK)
  • Cookie Policy (EU)
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2022 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Events
    • Technology Events in Europe
    • Submit your event
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact

Silicon Canals 2014-2022 | Website: Bright Idiots

Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
Silicon Canals
Manage your privacy

To provide the best experiences, we and our partners use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us and our partners to process personal data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.

Click below to consent to the above or make granular choices. Your choices will be applied to this site only. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Statistics

Marketing

Features
Always active

Always active
Manage options Manage services Manage vendors Read more about these purposes
Manage options
{title} {title} {title}
X
X