Demand Increasing for European Cryptoasset Rails and Products, According to Swiss Financial Services Provider XEROF
Oct 15, 2023
In a summary of its H2 results, the company announced extreme growth in transaction volumes and demand for cryptoasset-to-fiat financial services and payments rails.
Switzerland - October 15, 2023 /MarketersMEDIA/ —
XEROF, a vanguard in cryptoasset financial services, shared today a selection of statistics that indicate growing interest in cryptoasset payments and financial rails that sit within Europe and offer cryptoasset-USD and cryptoasset-euro exchange.
XEROF is a licensed financial services provider that works with multi-family offices, high-net-worth individuals, cryptoasset exchanges, global real estate firms, and other companies. XEROF accepts cryptoasset payments and makes payments in and out of fiat currencies, stablecoins, and digital currencies all over the world. Transactional volume, customer count, and payment geographic spread have all increased.
Key statistics include:
Transactional volume increase. XEROF has seen increased demand for transactions between cryptoassets and the U.S. dollar, euro, pound sterling, and United Arab Emirates dirham. Over 2023, XEROF expects a 5-fold increase in cryptoasset payments issued, with transactions both originating in cryptoassets and being transferred into cryptoassets for final settlement. These payments pass through a number of jurisdictions, including North and South America, Europe, the Middle East, and Asia. “We’ve built our financial infrastructure so precisely that six-figure fiat payments are now being completed within 2-4 hours,” said Marc Taverner, XEROF CEO and co-founder. “These are global payments that could previously take up to a week using SWIFT and other systems.”
Client increase. XEROF services a number of companies and firms (as noted above), but has seen a surge in high-net-worth individuals and their family/multi-family offices diversifying into cryptoassets. XEROF's client base in this sector has increased by 40% in the last few months.
Banking friendliness. Banks have begun to move into cryptoassets more deliberately this year, and XEROF’s partnerships also reflect this. From January 1, 2023, to today, XEROF has seen its banking partnerships grow 500%, now inclusive of global partners as well as Switzerland’s premier private banks. This enables XEROF to settle into the US dollar, euro, and other digital and fiat currencies within a few hours. When asked what explains the increase, Taverner said, “The emergence of proper licensing for cryptoasset companies, as well as demand from their customer base, is leading modern-thinking banks to expand their digital currency services. Their deep liquidity, paired with our payment rails, allows their customers to move across different asset classes easily.”
Use case diversification. XEROF's primary service in its early days was digital currency payments for luxury goods such as real estate. By transferring to fiat directly with XEROF, their customers could avoid slippage in digital currency rates and other frictions & fees charged by exchanges and banks. Today, XEROF still facilitates large global purchases with cryptoassets, but now, one of the most popular purchases is the cryptoasset itself. Family offices and other institutional investors are using XEROF’s OTC desk to move into digital currency positions and diversify their portfolios. Finally, XEROF has also expanded its cross-border payments arm, becoming the payments processor of choice for international companies that seek to pay their global suppliers in stablecoins, fiat, and other digital currencies.
Remarking on the growth, Taverner added, “Our goal in 2023 was to scale to bring our customers more currencies, jurisdictions, and services. We are elated to see that we’ve been successful in this regard and believe that our growth reflects a growing demand for professional and efficient cryptoasset financial services.”
To learn more about the Swiss company, visit www.xerof.com.
About XEROF
XEROF, a distinguished Swiss financial services provider, specializes in cryptoassets and is prominent in the field. Collaborating with Switzerland’s premier private banks, this entity furnishes institutional services across digital and fiat currencies, encompassing cross-border settlement, currency exchange, OTC brokerage, asset custody, and seamless payments. Established in 2020, XEROF operates as a regulated Virtual Asset Service provider (membership number 100954) under the supervision of the Financial Services Standards Association (VQF), adhering to sector guidelines. Compliance with Switzerland’s AML/CFT regulations is strictly observed, ensuring services align with stringent legal standards while delivering deep liquidity and efficiency to operations. Aiming to cultivate a mature market for both traditional and digital wealth, XEROF propels this vision by steering foundational forces such as exchanges, established firms, and private individuals through the intricate cryptoasset ecosystem—experience Swiss precision in cryptoasset management by visiting xerof.com.
Contact Info:
Name: Press Inquiries
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Organization: XEROF
Website: https://www.xerof.com/
Release ID: 89109840
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