Tag Archives: crypto trading

Shortly after announcing the news that CORDET Capital Partners would be acquiring Payments group Secure Trading Limited (STL), Secure Trading Financial Services Ltd (STFS) (t/a Acquiring.com) and Secure Trading Inc (STI) (the “Group”), Secure Trading and acquiring.com announced that it would be onboarding its first cryptocurrency client.

On May 23, the company shared that it had decided to provide payment gateway and merchant acquiring solutions for CoinLoan, a peer-to-peer lending platform for crypto-asset-backed loans. CoinLoan allows its users to borrow up to 60 percent of the cryptocurrency’s current market value; this allows and encourages people to invest in cryptocurrencies without making them cash poor.

“We are building a forward-thinking culture in relation to Blockchain and cryptocurrency and are delighted that CoinLoan has bought into this and integrated us into their payments ecosystem,” Craig Brightly, Head of Sales at SecureTrading, said after the announcement.

Acceptance of Cryptocurrency Grows

Cryptocurrency has been in the spotlight more and more as it grows in popularity around the world. Even Facebook has entered the cryptocurrency market. Bitcoin was the first to receive widespread attention. With Facebook recently jumping into the market, cryptocurrency is expected to become even more mainstream.

Overall, cryptocurrencies make it easier to conduct transactions. Transfers are simplified through the use of public and private keys for security and privacy purposes. One of the biggest advantages, these transfers can be done with minimal processing fees; this allows users to avoid the steep fees charged by traditional financial institutions.

Consumers are not the only party to benefit from increased attention and acceptance of cryptocurrency. This latest acquisition is also good news for CoinLoan itself, which will benefit from Secure Trading/acquiring.com’s OCT (Original Card Transaction) system. This system allows refunds to be processed without referring to the original authorization. According to the press release, because these refunds can be of greater value than the original transaction and be paid out to a different card than the one used to pay, the system is ideal for CoinLoan.

“CoinLoan takes pride in allowing our customers to withdraw funds directly to their cards quickly and securely when requested,” Max Sapelov, Co-Founder at CoinLoan said. “Secure Trading’s OCT system facilitates this by processing the withdrawal effectively as a refund, with extra funds added to the amount.”

Would you like to find out more about secure trading, cryptocurrency and how the latest news affects your business? Check out the helpful reviews and industry updates Best Payment Providers has to offer. Find all the information you need to set your business up with the best merchant services in the UK.

Author Bio: Payment industry expert Taylor Cole is a passionate merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of the industry and secure trading has helped thousands of business owners save money and time.