PROCESSING TRANSACTIONS ON BEHALF OF CEX.IO
Clear Junction has been working with CEX.IO for the past few years. During that time, we have enabled them to connect to clients and process transactions on behalf of customers around the world. By partnering with Clear Junction, CEX.IO facilitates GBP and EUR payments for their end users and delivers quality services at a consistently high standard.
CEX.IO is a financial institution that focuses on connecting people and businesses with opportunities in cryptocurrencies and decentralised finance. Founded in 2013, the team there have created a global ecosystem which includes a market-leading exchange and a 360-degree service for crypto market participants. They service both retail and enterprise crypto holders, as well as professional traders and financial institutions.
The team at CEX.IO is composed of more than 400 professionals around the world, with offices in the UK, US, Portugal, Gibraltar and Cyprus. Over the past six years or so, CEX.IO has partnered and integrated with Clear Junction to ensure that the service they deliver to their customers is fast, reliable and far-reaching.
PROCESSING TRANSACTIONS FOR CUSTOMERS WORLDWIDE
Clear Junction was established in 2016 and CEX.IO is among the first financial institutions we began working with. Prior to partnering with us, CEX.IO had worked with several incumbent payment suppliers. However, these partners proved to be unreliable, in terms of speed, cost and the process involved.
“As a company, CEX.IO is reliant on the speed at which its transactions are processed, as well as the ability to ensure it can process these transactions in a secure and regulated manner,” explains Oleksandr Lutskevych, Founder and CEO, CEX.IO. “By working with Clear Junction, we were able to relax, safe in the knowledge that we could relinquish this particular responsibility to a company that has the legacy, knowledge and expertise in processing transactions reliably and to a high standard.”
When the Clear Junction team met with CEX.IO, it was clear that they required a tailored approach to meet the needs of the business. Of course, having a comprehensive understanding of what businesses such as theirs require puts us at an advantage and one that we were both able to utilise. Over time, we built a rapport with their team, with CEX.IO’s management and Clear Junction’s compliance interacting regularly and successfully. We were able to provide guidance on how best to maximise business opportunities and tailored our solutions accordingly.
THE PAYMENTS SOLUTIONS WE PROVIDE TO CEX.IO
As a financial institution focused on providing services relating to cryptocurrencies and decentralised finance, it was important that CEX.IO was able to facilitate deposits and withdrawals in a range of currencies and territories around the world. As such, we have provided solutions that enable them to offer access to SEPA and SEPA Instant for EUR in the European Union, as well as the Faster Payments service for GBP in the UK for deposits and withdrawals.
Alongside these key services, CEX.IO are one of the first to utilise our new Guaranteed FX Rate service. This enables cryptocurrency exchange clients to present their open order book to traders in all required fiat currencies without taking any undue FX risks. In addition, letting traders see orders in their domestic currencies increases the exchange efficiency and helps increase the overall traffic.
THE FUTURE LOOKS INCREASINGLY BRIGHT
While the cryptocurrency market has fallen in value recently, it is not the first time it has happened and will almost certainly not be the last. There has been talk of a ‘crypto crash’ several times over the past few years and if history can be seen to be an indicator of the future, there is always a recovery. Irrespective of the current situation, the digital assets industry is still exponentially larger than it was when CEX.IO started working with Clear Junction.
As such, the demand for the services that the team at CEX.IO provides has rapidly increased. “In recent times, we have been adopting a measured and strategic approach to scaling up the business to support the increased demand,” says Lutskevych. “This can be categorised into three fronts: partnerships, personnel and products.” In line with that, CEX.IO has positioned itself for growth over the next 12 months, particularly within the US market.
Ultimately, CEX.IO has solutions for both bear and bull market conditions, so any crypto crash can be remedied. By working with Clear Junction, the team at CEX.IO can be assured that the speed and reliability of the services they provide will be maintained – irrespective of what might happen in the wider digital asset world. Our partnership with CEX.IO was effective from the very beginning, but over the past few years, we have solidified the relationship and ensured that they benefit from any and all new products and services we develop.
To find out more about how Clear Junction can help digital asset businesses send and receive funds in jurisdictions around the world, please get in touch with our team.