The partnership will add fiat accounts, payments and cards to the Nebeus crypto app.
London, UK, 16 August 2022: Nebeus, the European cryptocurrency app has today announced a partnership with Modulr, the embedded payments platform, to augment its offering with accounts, real-time payments and Visa cards. This move makes Nebeus one of the first European companies to leverage Modulr’s one-stop card issuing solution across the UK and Europe.
Based in Barcelona, Nebeus is the leading European cryptocurrency app and desktop platform which specialises in providing a full crypto ecosystem which allows user to earn rewards on crypto by staking and renting; access an exchange and personal wallet; borrow crypto, and; embed crypto for B2B clients. Nebeus, connected to Modulr accounts and embedded payment features like Direct Debit, Faster Payments and SEPA Instant, can now scale operations across Europe and the UK in its bid to become the leading financial app bridging crypto and fiat payments.
The partnership with Modulr will enable Nebeus to issue branded virtual and physical cards – with ‘out of the box’ modern issuing features like card-freezing, real-time spend notifications and spend controls – to their customers across the UK and Europe. This will provide Nebeus’ customers with a payment experience equivalent to that provided by a traditional bank account* but seamless, crypto-enabled, and instant. Modulr is one of few non-banks to hold and settle GBP funds at the Bank of England.
Combined, these payment methods mean Nebeus can offer each customer a dedicated digital account with unique IBANs (EUR) or Sort Codes and Account Numbers (GBP), together with a whole ecosystem of crypto services, and give customers a virtual and physical Visa card to spend fiat. In this way, Nebeus can offer consumers a bridge between crypto and traditional financial services.
Marca Wosoba, Managing Director of Europe at Modulr comments, “We live in an age where we expect payments to be seamless, secure and instant. We’re excited to work with Nebeus and, in particular, for them to be one of our first live customers as we launch our card issuing solution across Europe. It’s a great example of the growth and innovation we can spark when we make money flow more efficiently through European businesses and the economy.
“Establishing and running a card programme across Europe requires multiple partnerships; and the handling of such a complicated partner network requires extensive time and money. This pulls businesses away from their focus: customer experience and revenue growth. The European launch of our card issuing solution replaces these legacy inefficiencies with a proven, full-stack solution.”
Michael Stroev, COO and Head of Product at Nebeus adds, “Our mission is to bridge the gap between crypto and traditional money by providing crypto and fintech services for all needs. Harnessing Modulr’s embedded payments platform, we can build new products and services to achieve our mission and scale at pace. With Modulr’s support, we are one step closer to becoming the leading cryptocurrency app in Europe.”
*Modulr is not a bank but provides Nebeus with GBP & EUR Electronic Money Institution (EMI) accounts and scheme access, along with a Visa card programme offering and access to Confirmation of Payee, in the UK and Europe under its Modulr FS Limited and Modulr Finance BV entities, respectively. Modulr does not provide credit or cryptocurrency services.
Since its inception in 2016 Modulr has grown to become the leading provider of embedded payments to digital businesses across the UK and Europe. Delivered using Modulr’s modern FinOps hub, Modulr enables 200+ clients to automate, control and embed payments and is now processing an annualised transaction value of more than £100bn.
Backed by industry leaders like PayPal Ventures and FIS Ventures, as well as leading venture and growth equity investors General Atlantic, Blenheim Chalcot, Frog Capital, and Highland Europe, Modulr has now raised £150m to support its vision to enable any software platform to embed payment capability using its modern FinOps Hub.
Modulr enables businesses such as Revolut, Sage, Wagestream, and BrightPay to build payments directly into their own platforms without needing to build complicated payment systems, become regulated themselves or manage the complexities of payment network membership. Modulr’s FinOps Hub removes cost and complexity associated with reconciliation and processing of volume payments. The FinOps Hub operates across a wide range of payment rails, is real time, open 24/7, and is simple to connect to via Modulr’s APIs - transforming the speed, flexibility, resilience and cost of launching and operating embedded payments services.
With more than 300 colleagues and offices in London, Edinburgh, Dublin and Amsterdam, Modulr is authorised by the UK’s FCA, the Central Bank of Ireland and de Nederlandsche Bank as an Electronic Money Institution.
Modulr FS Europe Limited (C191242) is authorised and regulated by the Central Bank of Ireland and as an Electronic Money Institution. Modulr Finance BV (R182870) is authorised and regulated by De Nederlandsche Bank as an Electronic Money Institution. Modulr FS Limited (FRN900573) is an Authorised Electronic Money Institution, regulated by the Financial Conduct Authority. Modulr has offices in Edinburgh, Amsterdam, London and Dublin.
For further information - please visit www.modulrfinance.com
Nebeus is a leading European cryptocurrency app and desktop platform established in 2014 and operational in over 120 countries. Nebeus offers a whole ecosystem of cryptocurrency services composed of earning rewards by crypto-renting and staking, crypto-insurance, own exchange and wallet, and crypto-backed lending. Also, with Nebeus’s embedded crypto, businesses can offer crypto services to their customers without needing to build a complex blockchain infrastructure or having the need to go through lengthy licensing procedures.
To help its users and the community, Nebeus has in-depth educational content, coin analysis, and industry insights on its blog to guide them through the complex crypto and financial world.
Supported by industry leaders such as BitGo for cold storage in Bank-grade Class III security, Lloyds of London for crypto-insurance, and Modulr for payments solutions, Nebeus aims to provide the most secure and robust financial app.
Nebeus (Rintral Trading SL) is authorised and registered by the Bank of Spain (number D664) as cryptocurrency custody and services provider and officially registered as a VASP (Virtual Asset Services Provider).
For further information, please visit https://nebeus.com/