Titan FX meets demand for stablecoin payments with BVNK
As an international forex broker, Titan FX sees significant demand for stablecoin payments from both customers and suppliers. But the broker found it difficult to find a partner it could rely on, with the right product and licences. In 2023, Titan FX teamed up with BVNK.
The challenge: a trusted partner for crypto
Crypto is a key part of Titan FX’s payments strategy, enabling the broker to meet global client demand and drive deposits. Around 40% of Titan FX’s deposits are stablecoins, and the average deposit value is 10x that of card payments, at EUR 5000.
Valon Sermaxhaj, Business Solutions Specialist for Titan FX explained: “Many of our international clients avoid card payments, because fees are high or the card doesn’t work cross-border. We also find that customers feel more comfortable depositing higher amounts in crypto.”
And demand doesn't just come from clients. Titan FX works with local payment service providers to collect payments globally. Many of these PSPs are located in countries where payments infrastructure is slow, or difficult to access and use. Because of this, PSP partners often prefer to use stablecoins to speed up settlement.
With demand coming from both customers and partners, it was critical for TitanFX to find a trusted crypto payments partner.
But previous suppliers fell short.
“We needed a partner licensed in a reputable jurisdiction, with a strong compliance function and reliable service. We also wanted to get settled in fiat. BVNK is that partner for us – licensed as an EMI by the FCA, with a great API platform that brings together fiat and crypto payments.”
The solution: payments with BVNK
The partnership with BVNK began in 2023, with Titan FX team using BVNK to accelerate settlements from PSP partners. Rather than waiting days for a wire transfer, the broker now receives USDT stablecoins in minutes from its partners. BVNK auto-converts the stablecoins to EUR, and Titan FX holds those funds in safeguarded virtual accounts on the BVNK platform, ready to withdraw to their own bank accounts as needed.
Titan FX can also make onward payouts in EUR to partners and suppliers using the BVNK platform, meeting its payment needs across fiat and crypto.
“We started with stablecoin payments from suppliers, and we’re now integrating BVNK’s crypto payments gateway via API to enable customer payments,” explained Valon. “BVNK has an excellent product suite and we’re excited to take our partnership to the next stage, working with BVNK to grow client crypto deposits globally.”
