Moneybrain, an international Fintech platform, reveals that it has joined Visa’s Fintech Fast Track program, in order to accelerate the process of integrating with Visa and “allowing Moneybrain to more easily leverage the reach, capabilities, and security that Visa’s global payment network offers.”
As mentioned in a release:
“Through Fast Track, Moneybrain is working to bring its UK offering—specifically the ability to convert and spend crypto at 70 million merchants worldwide–to consumers in the US.”
Lee Birkett, Moneybrain CEO and Founder, remarked:
“Old money is out, new digital money is in!
Fintech companies, and in certain cases Big Tech firms, are working on viable alternatives to traditional forms of money. Moneybrain, as a UK-regulated peer-to-peer (P2P) platform, have developed their own “asset backed” digital money (BiPS) that can be “bought with traditional currencies (£$€) and stored in the global Moneybrain Super App.”
BiPS can also be “exchanged in-app with world leading crypto currencies Bitcoin and Ethereum plus many others,” the update explained. The company’s management also mentioned that they will “continue to build an open and fairer financial system for the world with the Moneybrain Digital Asset Visa Card.”
Louisa Murray, Chief Operating Office (for UK and Europe) at Railsbank, stated:
“It is great to see our customer, Moneybrain, joining Visa’s Fintech Fast Track program, which will see it move to a new, exciting level in its development. Moneybrain is aptly named, as it develops innovative financial products which are in great demand from an increasingly savvy consumer. We are proud that Moneybrain is using the Railsbank platform to be a force within the industry.”
Terry Angelos, Senior Vice President and Global Head of Fintech, Visa, added:
“By joining Visa’s Fast Track program, exciting Fintechs like Moneybrain gain unprecedented access to Visa experts, technology, and resources. Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency.”
