Münzen is a crypto processing solution that makes it easy for traditional and crypto businesses to accept over 500 cryptocurrencies worldwide. The system is highly functional and easy to integrate. Münzen has earned the trust of numerous classic and crypto enterprises, whose combined annual revenue exceeds $20 million.
In the following interview, Taras Dovgal, VP of Products at Münzen, explains how the product makes it simple for businesses to accept crypto payments, even if they are unfamiliar with blockchain technology, and provides customers with a hassle-free payment experience.
Taras is a tech expert and veteran entrepreneur who writes about blockchain and its uses, and speaks on the subject. He also works to promote the wide acceptance of crypto payments, and encourages the integration of existing payment solutions with the new and innovative technologies. A passionate advocate of cryptocurrencies, he works to bridge the gap between traditional and modern payment methods.
Initially, Taras outlined the target audience that the Münzen platform was created to cater to. He indicated that it was designed to appeal to businesses of all sizes who desire to enjoy the rewards of cryptocurrency payments but without the related risks and complications.
“There’s an increasing number of businesses looking for ways to tap into the crypto payment market. We provide financial infrastructure for both traditional and crypto businesses looking to expand beyond traditional modes of payment,” Taras explained.
With Münzen’s on-ramp widget, users can buy crypto with fiat, or they can use its crypto processing solution to purchase goods and services.
Basically, merchants can begin accepting cryptocurrency payments immediately without having to set up infrastructure or acquire technical expertise. “In a few hours, our widget can be placed on any website, from WordPress-based online stores to complicated hosting services. Additionally, we offer custom integrations tailored to each business’ unique goals and needs,” Taras said. “This means that businesses can benefit from our product without disruption to their existing platform,” he added, emphasizing the ease of integration.
Having been a business owner for a long time, he believes it is critical to continue receiving liquidity in the same form that is comfortable for the business, while also understanding that your customers may have alternative options. If the business cannot offer these choices, customers may go elsewhere for their purchases.
“Our goal is to help businesses bridge the gap between traditional and modern payment methods,” said Taras. He continued, “Multiple payment options allow businesses to be accessible to all customers. This level of convenience is what users expect in today’s digital age, and we’re here to make it happen.”
This is where Münzen’s auto-conversion into fiat-pegged stablecoins and bank account withdrawals can be helpful. Through these features, businesses can benefit from crypto payments while maintaining the stability of traditional banking systems. This stability gives businesses peace of mind, allowing them to focus on running their operations without worrying about the fluctuating prices of cryptocurrencies.
In his explanation, he pointed out that cryptocurrency payments can be accepted without businesses even having to touch the cryptocurrency itself – everything is handled behind the scenes.
“We make it easy to accept crypto payments even if you know nothing about blockchain,” Taras said. “That way, companies can focus on their core business while Münzen takes care of the rest,” he concluded.
For crypto companies, Münzen offers the ability to convert crypto payments immediately into stablecoins, minimizing volatility. “We don’t just make it easy for companies to accept crypto payments,” Taras continued, “we also take care of the complex conversion process, so they don’t need to stress over cryptocurrency volatility.”
Münzen also offers clients peace of mind when it comes to security, since it is an EU-licensed custodian that follows GDPR, AML, and KYC regulations. Furthermore, a sophisticated anti-money laundering system is in place to prevent illegitimate activity. Moreover, Münzen’s cyber security team provides merchants with tips on how to set up their accounts to reduce social engineering risks.
As for Münzen’s markets, Taras said that the company primarily targets Europe, but is expanding internationally as well. “After initially focusing on Europe, we are now expanding to Latin America, Asia, and the Middle East. This is in response to the growing demand for crypto payments in these regions,” he said.
Münzen added the Brazilian real to the list of supported assets and Pix will follow soon. (Pix is a payment system launched by the Central Bank of Brazil that allows instant payments using QR codes or phone numbers.) Taras revealed that they are planning to add the Chinese yuan, the United Arab Emirates dirham, and Indian rupee. They are also working on introducing new features such as APIs, loans, and internal payout settings, along with partially automated conversions.
Ultimately, Taras expressed what he believes the meaning of Münzen is: “The customer pays in crypto, the merchant gets paid in the currency they prefer, and we take care of the rest – no more headaches. We ensure end users have a smooth and secure experience, and merchants get what they expect. Making crypto payments easy and trustworthy is what we’re all about.”