Traditional finance (TradFi) is making its foray into the world of cryptocurrencies as a finance giant leverages its decades of experience to launch a new crypto exchange.
MultiBank.io, the regulated crypto exchange operated by MultiBank Group, provides high-level security and rapid trade execution for major cryptocurrencies, along with the convenience of free fiat deposits.
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The world of cryptocurrency is notorious for its volatility and lack of reliability, leaving users in search of trust and security. Traditional finance behemoth, MultiBank Group, with its more than two decades of expertise, is determined to enhance the global perception of cryptocurrencies for the better.
It's no secret that the cryptocurrency space is not renowned for its stability or dependability. Trust in the market hit a new low with the FTX exchange incident, causing concerns about the remaining centralized exchanges. In this climate, trust and security have become the most coveted assets within the crypto space.
A year has passed since the "crypto's Lehman Brothers moment," and this period of heightened concern about the state of the cryptocurrency market coincides with increased regulatory scrutiny. This has led to multiple regions suspending various fiat withdrawal options, resulting in soaring deposit, withdrawal, and trading fees.
Users are clamoring for a robust and trusted market with improved fees and fiat on-ramp options, and the crypto space requires a transformation to achieve this. MultiBank.io, a cryptocurrency exchange regulated by the Australian Securities and Investment Commission (ASIC) and audited by the Australian Transaction Reports and Analysis Centre (AUSTRAC), aims to reintroduce trust and reliability to the crypto market. It achieves this by implementing the same best practices that have upheld the untarnished record of its parent company, The MultiBank Group, in the traditional finance sector since 2005.
Source: MultiBank.io
Launched in 2022, MultiBank.io offers support for over 40 crypto and fiat trading pairs with robust liquidity, including euro (EUR), dollar (USD), and dirham (AED). The platform charges no fees for fiat or crypto deposits, and it provides one of the lowest withdrawal fees in the market, facilitating an easy fiat on- and off-ramp for newcomers. Crypto traders of all experience levels can benefit from the user-friendly interface, top-tier security, swift trade execution, and the option for Instant SEPA deposits and withdrawals on MultiBank.io.
The company behind MultiBank.io is the Multibank Group, experts in traditional finance (TradFi) with a paid-up capital exceeding $322 million. As a prominent entity in the highly regulated financial industry, the MultiBank Group manages a daily volume exceeding $12.1 billion, serving more than a million traders across 90 countries.
Holding more than 14 regulatory licenses worldwide, with more in the pipeline, the MultiBank Group is authorized and regulated by the ASIC, the Securities and Commodities Authority of the UAE (ESCA), and the German Federal Financial Supervisory Authority (BaFin), among others.
With the introduction of MultiBank.io, the MultiBank Group intends to bring its traditional finance expertise to the cryptocurrency space, making it a secure place for users to trade and deposit their crypto assets. Zak Taher, the CEO of MultiBank.io, emphasized their commitment to driving innovation, promoting financial inclusion, and enabling individuals to embrace the opportunities of the digital age. He stated, "We believe that by working together, we can make a meaningful impact on the future of finance as the world stands at the crossroads of history."
