Pionew Ireland Acquires VASP Licence and Partners with Fiat Republic for European Crypto-Fiat Expansion
London, 6th September 2023, 8am GMT: Pionew Ireland Limited (Pionew), the leading centralised crypto asset exchange leveraging best-in-class automated trading bots, has acquired their Irish VASP (Virtual Asset Service Provider) licence and partnered with Fiat Republic. This collaboration will enable Pionew to leverage Fiat Republic’s robust API technology to provide seamless fiat deposits and withdrawals with in-built redundancy, as they debut their crypto exchange, webot.com/eu in Europe next quarter.
Pionew’s acquisition of Tier 1 Irish VASP licence underscores their commitment to regulatory compliance and marks an ambitious move into Europe for the platform, adding to their existing VASP licence in Lithuania. Partnering with Fiat Republic as the fiat on/off ramp for their users, they will prioritise accessibility, reliability, and convenience for digital asset investors and traders.
In an era where traditional banks increasingly limit or halt crypto-related fiat transactions, this partnership capitalises on the growing demand for uninterrupted access to digital assets. Fiat Republic’s strong pedigree in solving the fiat problem for crypto platforms together with their product offering consisting of local named end user virtual IBANs and access to Faster Payments and SEPA Instant will provide Pionew’s users with a frictionless on/off-ramp experience. Their fiat-as-a-service platform provides Pionew with a compliant and robust solution; by aggregating crypto-friendly banks under a single API, payment delays are minimised, and the risk of sudden debanking is reduced.
This collaboration signifies a bold new chapter in the world of crypto-fiat payments, reflecting the joint commitment of Pionew and Fiat Republic to lead the way in innovation, reliability, and compliance within the rapidly evolving digital asset space. With more local jurisdictions to be rolled out soon, the partnership sets a new benchmark for crypto-fiat integration in Europe.
David Nolan, Chief Operating Officer for EMEA at Pionew, said: “Obtaining our VASP licence and partnering with Fiat Republic is an exciting step forward in our mission to provide innovative and compliant crypto solutions. With this partnership, we are offering an enhanced fiat on/off ramping experience, meaning faster, more secure, and more convenient deposits and withdrawals for our users. With the help of Fiat Republic’s expertise in providing this streamlined access to European fiat currencies, we are looking forward to growing our footprint in Europe. They were a natural choice given their extensive track record in this region.”
Adam Bialy, Founder and CEO at Fiat Republic, added: “Pionew’s expansion in Europe, and their decision to choose us to power the fiat on/off ramp of their European users, couldn’t come at a better time. Together, we are making digital assets more accessible and the conversion from fiat into crypto (and back), more convenient. Our compliance-first data architecture and built-in redundancies will also directly help them get ready for MiCA. We are proud to support Pionew in their European venture and couldn’t be more excited about what the future holds for our partnership.”
The Biying group of companies trading in Europe as Pionew (Pionew) operates a crypto asset trading platform (webot.com) with built-in trading bots, which allow eligible customers to buy and sell crypto assets with Pionew trading as principal. The group has developed at least sixteen (16) trading bots including Grid Trading Bot, Reverse Grid Bot, Infinity Bot, Rebalancing Bot, and Martingale Bot to name a few.
In Europe, Biying group includes the following:
- Pionew Ireland Limited (Pionew Ireland), a Virtual Asset Service Provider (VASP), registered by the Central Bank of Ireland (Central Bank) pursuant to section 106G of the Criminal Justice (Money Laundering and Terrorist Offences) Act 2010, as amended.
- Pionew UAB, Lithuania (Pionew Lithuania) a Virtual Asset Service Provider registrant in the Central Register and overseen by the Financial Crimes Investigation Service (FCIS) under The Ministry of the Interior of the Republic of Lithuania; together, Pionew Europe.
About Fiat Republic
Fiat Republic is an EMI-regulated, Fiat-as-a-Service platform aggregating local fiat rails for crypto platforms via a single API. Fiat Republic enables crypto platforms to easily embed fiat payments into their platform to deliver frictionless pay-in and pay-outs for their users. Fiat Republic built a brand new category, Web2.5, the bridge between Web2 and Web3, which provides the connectivity tissue between banks and crypto platforms needed to accelerate global crypto adoption. Learn more at https://fiatrepublic.com
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