TradFi goes crypto: Finance giant brings decades of experience to new crypto exchange
The crypto world is volatile, with users steadily seeking a sense of trust and security. Now, a traditional finance giant, MultiBank Group, wants to change the global perception of crypto for the better with its know-how and expertise spanning over two decades.
It’s hard to claim that the crypto world is known for its stability or reliability. However, trust in the market experienced a new low when FTX, a top United States-based exchange, went down in flames with smoke surrounding the remaining centralized exchanges. Trust and security have become the most sought-after commodities in the space.
A whole year has passed since what’s called the “crypto’s Lehman Brothers moment.” This period of increased concern about the state of the cryptocurrency market has coincided with heightened regulatory scrutiny. Consequently, many regions have suspended multiple fiat withdrawal options, causing deposit, withdrawal and trading fees to skyrocket.
Users want to see a robust and trusted market with better fees and fiat on-ramp options, and the crypto space needs a change to achieve that. MultiBank.io, a crypto exchange regulated by the Australian Securities and Investment Commission (ASIC) and audited by Australian Transaction Reports and Analysis Centre (AUSTRAC), aims to reintroduce trust and reliability to the crypto market. It does so by implementing the same best practices that have maintained its parent company, The MultiBank Group, with an untarnished record in the traditional finance sector since 2005.
Swift fiat on-ramp with free deposits
Launched in 2022, MultiBank.io supports over 40 crypto and fiat trading pairs with robust liquidity, including euro (EUR), dollar (USD) and dirham (AED). Charging no fee for fiat or crypto deposits, the platform offers one of the lowest withdrawal fees in the market, making fiat on- and off-ramp easy for newcomers. Crypto traders from all experience levels can benefit from the user-friendly experience, top-tier security, swift trade execution and the possibility for Instant SEPA deposits and withdrawals on MultiBank.io.
The company behind MultiBank.io is the Multibank Group — experts in traditional finance (TradFi) with a paid-up capital of over $322 million. As one of the titans of the heavily regulated financial industry, the MultiBank Group manages a daily volume of more than $12.1 billion, reaching over a million traders in over 90 nations.
Traditional finance know-how benefits the crypto market
Holding over 14 regulatory licenses worldwide, with another on the way, the MultiBank Group is authorized and regulated by the ASIC, the Securities and Commodities Authority of the UAE (ESCA) and the German Federal Financial Supervisory Authority (BaFin), among others.
With the introduction of MultiBank.io, the MultiBank Group plans to bring its expertise in TradFi to the crypto space, turning it into a place where people can truly feel safe trading and depositing their crypto assets.
“As the world stands at the crossroads of history, the MultiBank Group is not merely entering the crypto space through MultiBank.io to seize an opportunity; rather, our goal is to contribute to a vision of stability, trust and prosperity,” said Zak Taher, the CEO of MultiBank.io.
“In the dynamic realm of cryptocurrencies, we are dedicated to driving innovation, fostering financial inclusion, and empowering individuals to embrace the opportunities presented by the digital age. We believe that by working together, we can make a meaningful impact on the future of finance.”
The MultiBank Group recognized the demand for a crypto exchange that caters to individuals seeking a safe and regulated environment to trade cryptocurrencies, answering it with MultiBank.io. As the interest in crypto trading grows, more and more institutions from traditional finance are embracing cryptocurrencies, bringing trust and stability along with decades of expertise to the nascent market.Learn more about MultiBank.io
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