UK company wish to convert crypto funds to GBP
SUMMARY:
A UK based marketing company works for clients within the crypto industry. Clients pay the marketing company in USDC . The marketing company wish to convert to GBP in their UK bank.
SOLUTION:
Universe Payments determines appropriate off-ramp solution for client.
PROCESS:
- Client instructed to transfer crypto funds designated wallet address
- UP converts USDC to GBP on the blockchain
- UP issues client GBP iBAN in client’s business name
- UP pays out GBP locally via faster payments to UP issued iBAN
- Client transfers GBP to their own GBP denominated bank account in UK
TIMING:
< 2 hours