Press Release: April 22, 2020
Hong Kong/San Francisco - April 22, 2020 - COINQVEST announced the launch of its enterprise cryptocurrency processing platform to bring the power of blockchain-based payment processing to merchants and businesses. The platform is live today and makes it possible for merchants to get paid online in digital currencies that live on decentralized, cryptographic ledgers, and turn them into traditional currencies in user bank accounts, in seconds.
The enterprise cryptocurrency platform brings immediate benefits to merchants integrating COINQVEST with checkout processes, like reduced transaction costs (compared to credit card processors or PayPal), quicker settlement times and fiat bank deposits, as well as irreversible payments without chargebacks.
The service can be easily added to websites, instantly allowing businesses to accept major cryptocurrencies, such as Bitcoin, Ethereum, or any asset on the Stellar Network. After a COINQVEST account is created, merchants need only to add a hosted checkout button to the payment page. The platform takes care of the rest, from automatically exchanging currencies (fiat or cryptocurrency) and calculating taxes to depositing funds in user accounts. For developers and enterprises, a powerful and well-documented API with white-label capability is available for greater control and customization.
”Cryptocurrencies have dramatically transformed the way payments can be accepted,” says co-founder Marcin Olszowy. “Programmable money is the future and COINQVEST makes it easier than ever for eCommerce services to add digital currency payments to their existing checkout flows or as a stand-alone solution.”
At the core of COINQVEST’s platform is the Stellar blockchain network. Stellar was created with the main purpose of providing safe, fast, and extremely cheap value transfer. COINQVEST merchants benefit from its built-in decentralized exchange with instant cross-blockchain and fiat settlement.
"By implementing COINQVEST, merchants reduce their remittance costs, receive payments in real-time, without potential chargebacks or held payments, and can choose to receive settlements in a cryptocurrency or fiat,” says co-founder Stefan Schneider. "COINQVEST also facilitates compliant tax record keeping, putting the minds of your accountants at ease.”
Beyond pure payment processing, COINQVEST solves the challenge of cryptocurrency accounting. The dashboard provides compliant financial audit data, tax records, extensive analytics, and product support. The accounting tools are especially beneficial to COINQVEST’s merchants and their financial teams. They track payment and customer history, automatically create invoices, and provide meaningful metrics for companies to refine their business strategies.
COINQVEST understands that as a business, merchants want to focus time crafting the best product or service for customers, rather than worrying if payments are received, high fees, or how to generate cryptocurrency tax records. COINQVEST’s meticulously designed platform takes care of these issues so that our customers can keep their minds on their business.