Merging Traffic Portfolio Company, Mercury Cash, Announces Its Registration as an Authorized Agent by Lithuania's Central Bank, Enabling Banking Services in the European Union
ORLANDO, Fla., July 29, 2021 (Newswire.com) - Merging Traffic, Inc. ("Merging Traffic"), a portfolio management company delivering "The Next Generation of Private Equity," is pleased to announce its portfolio company Mercury Cash has been approved as an authorized agent by Lithuania's Central Bank that allows the Company to create accounts in EUR and GBP in the European Union. Mercury Cash will offer IBAN accounts in euros and pounds sterling for individuals and companies in 27 EU countries in the coming days.
Mercury Cash has been registered since Monday, July 12, 2021, by Lithuania's Central Bank as an agent of Payrnet UAB, which will allow offering IBANs in EUR and GBP in 27 countries of the European Union. The IBAN services of the Mercury Cash platform will be provided by Adentertech OÜ (trade name "Mercury Cash") as an authorized EMI agent working under the license of Payrnet UAB (Nr. 72) and supervised by the Central Bank of Lithuania for the distribution and redemption of electronic money. This, in addition to reinforcing the institutional solidity of the platform and reaffirming compliance with the regulatory guidelines designated by the countries that make up the European bloc, configures Mercury Cash as one of the most advanced fintech companies in the financial industry.
"Mercury Cash is disrupting all traditional banking services, as well as exposing companies to digital assets in a way that complies with current regulations. Businesses can conduct multiple transactions in different countries in a matter of seconds with a single account, and it also allows them to switch from cryptocurrencies to dollars and other currencies in seconds," comments Al Weiss, Director, Merging Traffic. "When I met Victor and his team, I had no hesitation in becoming a partner of Mercury Cash."
To support Mercury Cash's expansion in the United States and the European Union for Banking Services, Mercury Cash is currently offering, on a best-efforts basis, an investment round up to USD $15 million. Global Blockchain Ventures, a blockchain-focused investment fund, has already invested $5 million.
"This registration is important to us so we can consolidate the Mercury Cash tools designed for Fortune 500 companies, stop depending on third-party entities for the provision of our financial services, and increase the portfolio of payment products. Being an authorized agent in Lithuania's Central Bank allow us to provide greater efficiency, independence, and greater security to our type of customers: CFOs, General Managers, Treasury Managers, Auditors, Controllers, Managers and many more. Only companies that are being audited know how difficult it is," states Mercury Cash Global Operations CEO Victor Romero.
Merging Traffic will continue to monitor the progress of Mercury Cash. With this new achievement, Mercury Cash customers will now be able to:
- Obtain bank accounts in EUR and GBP in the name of individuals and companies connected to the SEPA payment network;
- Get debit cards; and
- Use their balances to enjoy selected platform services.
About Merging Traffic, Inc.
Merging Traffic is a unique company offering solutions as part of the Digital Transition movement that is affecting all areas of the Enterprise Market globally. https://www.mergingtraffic.com
About Mercury Cash
Mercury Cash is a global cash and cryptocurrency management solution designed for Fortune 500 companies that provides access to centralized and decentralized finance in one place. https://www.mercury.cash
About Global Blockchain Ventures Fund, LP
Global Blockchain Ventures Fund, LP ("Global Blockchain Ventures," "GBV") is a blockchain-focused venture capital fund specializing in blockchain-enabled applications within synergistic technology platforms including Internet of Things, MedTech, Artificial Intelligence, and Healthcare. www.gbv.fund
Media Contact
A.J. Ripin
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This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Mercury Cash equity offering is being offered only pursuant to the Private Placement Memorandum issued by Mercury Cash.
Source: Merging Traffic, Inc.
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Tags: Blockchain, cryptocurrency, EUR, finance, fintech, GBP
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