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Industry News: Swapin Announces Instant Crypto-to-GBP Bank Account Conversion Capabilities

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Swapin, a crypto-to-fiat payment processing company, has announced support for British Pound conversions.

This adds to the payments processor's existing crypto-into-Euros capabilities.

The developments are the latest from the Europe-based crypto-to-fiat payments provider which continues to roll out multilingual support and has secured significant corporate partnerships, with major brands such as RE/MAX.

With the euro being the most used reserve currency globally behind the dollar, launching with EUR support allowed Swapin to reach the most significant number of users initially.

However, the addition of GBP support means another top-five global reserve currency is now added to Swapin's books.

Swapin said it has added support for the pound due to increased customer demand.

Looking ahead, the company says it aims to introduce additional support for other fiat currencies.

It has also said it now supports the DAI stablecoin.

DAI is an algorithmic stablecoin on the Ethereum blockchain developed by the Maker Foundation that establishes a stable value in parity with the United States dollar by leveraging smart contracts.

The complete list of Swapin-supported cryptocurrencies available for conversion includes BTC, ETH, USDT, USDC, and other popular digital assets.

All digital assets can therefore now be instantly converted into EUR or GBP.

During the conversion process, Swapin locks the exchange rate, so the amount a user sends is what is received on the other side.

Swapin's tools range from Business-to-Customer services like InstaPay and InstaFill to B2B products like the E-Com widget and CoinCollector invoicing tool.

Users can make payments to anyone in the world with crypto, yet the user receives fiat to a connected bank account.

Swapin says adding GBP support would allow users improved access to a wider variety of products and services in the crypto space.