BlockFills, a leading digital assets technology and trading firm for institutions and professional traders, today announced the broad launch of a new service aimed at helping enterprise payments companies and FinTechs securely and efficiently process transactions between crypto and fiat. BlockFills unveiled the new market expansion at the first full day of the Money20/20 USA conference, the world's largest gathering of the global money ecosystem attracting more than 11,500 attendees from thousands of companies in the payments, fintech, financial services and other sectors.
With the approval of institutional trading products, rapid growth of crypto hedge funds and increasing use of stablecoins, traditional payments and financial services are more connected than ever to digital assets. At the forefront of this movement, BlockFills is poised to leverage its comprehensive trading infrastructure and expertise to assist traditional institutions and FinTechs in safely and securely incorporating digital assets into their ecosystems with on-ramp and off-ramp services.
These payments services are available via BlockFills' APIs, through its proprietary web-based trading platform (Vision) and over the counter (OTC). BlockFills provides 24/7 market access, industry-leading infrastructure, same day settlement and competitive all-in pricing.
BlockFills Co-Founder & CEO Nick Hammer said: "BlockFills is trusted by more than 1,500 institutional financial services clients to conduct $65 billion in trade volume across 70 countries. As we continue our push beyond traditional trading and into software, enterprise payments processing is an obvious path where we can leverage our world-class infrastructure and expertise in digital assets to bring immediate value and impact to the market."
According to McKinsey & Company, the global payments market will grow to $3 trillion by 2026. In an August report by Global Market Insights, the crypto payment gateways market size was valued at $1.2 billion in 2023 and is estimated to register a compounded annual growth rate (CAGR) of over 15% between 2024 and 2032. The report said the increasing adoption of cryptocurrency payment gateways is "transforming the global financial landscape, particularly through web-based platforms."
Patrick Zielbauer, BlockFills Managing Director of Sales, said: "As traditional payments and digital assets become more connected, our goal is to open access to our cutting-edge APIs and white glove trading services to make the on/off ramp for digital assets faster, safer and more cost-efficient for enterprise payments companies."
Among the services differentiating BlockFills from others in the space:
- Durable, tested fiat banking rails with numerous fiat currencies available
- Competitive, all-in pricing with no taker fees imposed
- Fast same-day settlements
- Post-trade settlement and credit available for maximum efficiency
- Industry-leading wallet and security infrastructure
- API (application programming interface) connectivity for trading and reconciliation with no connectivity fees
C14, which provides a fiat-to-crypto on-ramp to facilitate the purchase of digital assets, was one of the first payments processors to try the service. The company services digital wallets, exchanges, GameFi and a variety of other Web3 applications.
Erich Grant, CEO of C14, said: "We recently onboarded at BlockFills to forge a relationship with a firm focused on the rigorous demands of institutions, based on a desire to shift the bulk of our business away from centralized exchanges that proved challenging on a variety of levels. We especially appreciate BlockFills' sharp pricing when it counts and quick settlement capability. This elevated experience has allowed C14 to focus on growing the business, rather than spending time addressing issues introduced by trading counterparties."
