The Financial Conduct Authority (FCA) and Action Fraud today sent a warning to the public to be wary of investment scams. This warning comes as cryptoassests and forex investment scams in the UK tripled last year to over 1,800. Fraudsters promise high returns from investments in crypto and forex, with victims losing over £27 million in […]

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What have Coinfloor announced?

Today Coinfloor have announced a partnership with one of the longest established FCA authorised electronic money institutions, Enumis, to offer fiat current accounts.

The new offering is part of Coinfloor’s wider strategy to build a trusted, reliable and secure set of cryptocurrency financial services to bridge the fiat and crypto worlds.

Why is this important?

Speaking of the new offering, Obi Nwosu, Founder & CEO of Coinfloor said: “Crypto-focused businesses are growing at a steady pace, but until now, no reliable banking facilities have existed to help them manage fiat and crypto finance operations in an effective manner. Our partnership with Enumis will ensure that this will no longer be an issue.

With our joint pedigree and market expertise in the cryptocurrency and financial services spaces, we hope that this offering designed by members of the crypto community for the community will help the community of crypto businesses overcome their financial limitations and drive the crypto economy forward.”

Who is this service for?

The service is aimed at businesses operating in the crypto space and has been created specifically to meet the demand for a trustworthy domestic fiat current account on the Faster Payments network.

How does it work?

The crypto-friendly current accounts will allow for the deposit and withdrawal of funds via CHAPS, BACS and, 24 hours a day, UK Faster Payments. The Coinfloor-Enumis fiat current account will also allow clients to reduce costs with free GBP deposits and withdrawals into and out of their Coinfloor accounts.

What are the specific features?

Clients may access their account 24 hours a day online and will be able to undertake regular banking functions, such as setting up Direct Debits and Standing Orders. Advanced features, including programmatic API access for account automation, are also available. All current account holders will have access to Prepaid/Debit cards providing a 0.2% rebate on all transactions.

When is it available?

Applications are now open. Please click here for more information.