MangoPay and InstaXchange are partnering on multi-currency onramps.
InstaXchange is a crypto exchange that works with Google Pay, PayPal, Apple Pay, cards, etc. A regulated virtual asset service provider (VASP), it also offers a plug-and-play API for Fintechs, merchants, and payment providers to incorporate crypto.
MangoPay is a European Fintech OG. Founded in 2013, MangoPay reports having processed over €150 billion, created 430 million wallets, and onboarded 330 million users. MangoPay was acquired by private equity firm Advent International in April 2022, with Advent taking a majority stake in the firm. Previously, it was owned by Crédit Mutuel Arkéa, which purchased it from its founders/investors.
Mangopay will enable multi-currency fiat-to-crypto payments across various markets, providing all fiat payment and virtual IBAN services.
InstaXchange will also us MangoPay’s fraud prevention solution, which combines profiling capabilities with AI-assisted monitoring tools.
Martha Leventi, Head of Operations at InstaXchange, said that MangoPay will give them a competitive edge as they expand cross border.
“The wallets’ capabilities have been well-received by our community, and their profiling-led fraud prevention rounds out the full suite we need. We’re looking forward to the next phase of our work together, especially as crypto adoption accelerates and new use cases emerge where a wallet-first infrastructure gives us room to grow.”
InstaXchange reports more than $1 billion in annual volume.