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Deblock partners with Numeral

Tuesday 16 April 2024 11:43 CET | News

France-based Deblock has announced its decision to choose the banking aggregation and payment automation platform Numeral to manage its SEPA payments. 

As detailed in the press release, Deblock, a fintech that provides a current account that accepts both EUR and cryptocurrencies, elected Numeral to supervise its SEPA payments. The partnership is set to enable Deblock to operate as a SEPA participant as of the launch of its product, thus providing IBANs in its name to its users.

France-based Deblock has announced its decision to choose the banking aggregation and payment automation platform Numeral to manage its SEPA payments.

Deblock – Numeral collaboration objectives

According to Deblock’s officials, the company focuses on delivering a practical current account that can be accessed at any time for their clients’ everyday use, which also includes a self-managed wallet for their crypto assets. To achieve this, the company requires reliability of payments that can be compared to those of a bank, as well as the ability to deliver IBANs in its name to its clients. The decision to become a SEPA participant was based on this reasoning, with Deblock partnering with Numeral to support the launch of its solution. In addition, Deblock picked Numeral to connect to the SEPA interbank system, enabling its clients to send and receive bank transfers from their accounts as they would with any bank account.

Furthermore, as standards for participation and exchanging messages on SEPA are substantially high, Deblock intended to work with a partner who already had experience in this area. By joining forces with Numeral, the company is set to be able to deliver its clients a complete product from the launch. The new infrastructure also allows Deblock to focus on advancing its core business, as well as on the management of non-custodial wallets and integration of new capabilities for its clients. Representatives from Deblock underlined that due to Numeral’s input, the company’s SEPA infrastructure can support its long-term development strategy. Deblock intends to launch additional payment methods, including direct debits, and the alliance with Numeral is set to assist it in its future geographical expansion by connecting the fintech to new local payment systems in Europe and the UK.

Officials from Numeral expressed their enthusiasm over the partnership with Deblock, which, at the time of the announcement, is the first client in the crypto-asset sector. The company intends to support Deblock in launching in France for its regulatory stability provided by the digital asset service provider licence before the deployment of the markets in crypto assets regulation in Europe and its counterpart in the UK. Currently, Numeral focuses on delivering the infrastructure for fintechs and banks to connect to partner banks, access schemes, and automate payment operations. Via its payments, reconciliations, treasury, and risk and fraud management features, the company aims to allow its customers to launch additional products and expand across geographies, while minimising costs of ownership and making their payments more convenient and resilient.

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Keywords: SEPA, digital payments, crypto asset, cryptocurrency, bank account, partnership
Categories: Payments & Commerce
Companies: Deblock, Numeral
Countries: Europe
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Payments & Commerce

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Deblock

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