Crypto Trading: SCRYPT, Fiat Republic to Enhance Fiat On/Off Ramp Capabilities, Automation of Settlements

SCRYPT, the Swiss-licensed crypto trading firm offering digital asset solutions for institutions, announced a strategic partnership with London-based Fiat-as-a-Service platform Fiat Republic in order “to supercharge SCRYPT’s fiat on/off ramp capabilities, as well as improve automation of customer settlements to its institutional trading platform.”

This strategic partnership, “bringing together two of the most promising and well-equipped companies in the industry, will improve SCRYPT’s trading services across borders and enable quicker settlement, as well as open up Fiat Republic‘s customers to SCRYPT’s leading trading solution, through SCRYPT’s membership in Fiat Republic’s Eaglenet instant fiat settlement network as a liquidity partner.”

This announcement “comes on the cusp of industry turmoil, including amongst others the collapse of Silvergate as well as the FED intervention into Silicon Valley Bank ‘SVB’ and Signature Bank NY.”

Once again demonstrating SCRYPT’s agile approach to safeguard against market conditions, this partnership will “ensure even more stringent internal controls through Fiat Republic’s laser focus on regulatory compliance.”

Adam Bialy, CEO of Fiat Republic commented:

“At Fiat Republic, we are proud to partner with like-minded organizations that share our mission to help crypto gain mainstream adoption and grow sustainably through increased data transparency and strict adherence to regulatory standards. We are thrilled to welcome SCRYPT to our network.”

Norman Wooding, CEO and Founder of SCRYPT commented:

“Crypto-fiat solutions are crucial in moving the industry forward, especially at this time, and we are proud to be taking this step to safer and more seamless services. By enhancing our technology, we will provide our clients with an even more secure and reliable way to access digital currencies.”

SCRYPT’s steady growth in the first quarter of 2023 “was a testament to the impact of reliable and trustworthy counterparties in the industry.”

Driven by the company’s commitment to client servicing, SCRYPT continues “to combine its expertise and deep understanding of market structures to continue building strategic partnerships.”

As noted in the update, Fiat Republic is “an e-money regulated, Fiat-as-a-Service platform on a mission to help crypto break into the mainstream by helping the industry’s innovators fix their relationship with banks.”

They reportedly “offer a Banking and Payments API that lets crypto platforms easily embed and automate fiat flows for their end-users and their internal treasury teams.”

With a strong compliance & AML foundation, we are bringing the crypto platforms together for access to the best crypto-friendly banks through the Fiat Republic Consortium.”

As mentioned in the announcement, SCRYPT acts “as the trusted partner for institutions by building and providing infrastructure that delivers Digital Assets services in a robust regulatory framework.”

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