Merge, a UK-based regulated fintech firm with backing from Octopus Ventures and Coinbase, has introduced Named EUR IBANs as part of its API-driven payment network.

The company states that this new service allows businesses to provide fully named, dedicated EUR IBAN accounts directly to their customers. These accounts facilitate fiat collection, reconciliation, and payouts throughout Europe.

Unlike traditional virtual IBANs, Merge’s Named EUR IBANs are fully functional accounts created in the name of the end-user, allowing for both sending and receiving payments. They can be utilized by various entities such as marketplaces, financial tech platforms, and crypto-focused companies dealing with fiat and stablecoin transactions.

Enhanced Infrastructure and Compliance

The new product is SEPA payment scheme compliant and seamlessly integrates with Merge’s stablecoin services. This integration enables businesses to manage fiat-to-digital asset transitions through a unified platform, covering both incoming and outgoing transactions.

Additionally, one-to-one account mapping facilitates streamlined reconciliation processes, and the Named EUR IBANs operate within the regulatory framework of Merge’s Electronic Money Institution and Virtual Asset Service Provider licenses.

This launch addresses a significant gap in cross-border payment infrastructure by offering a comprehensive, reliable solution that combines traditional banking with blockchain settlement systems. Previously, businesses often required multiple providers to handle both IBAN issuance and digital asset management separately.

Merge clients in supported regions can now access Named EUR IBANs via an API-based setup process.

Regarding the launch, Kebbie Sebastian, CEO of Merge, noted that Named EUR IBANs are essential for businesses aiming to operate across both fiat and stablecoin systems, offering a combination of flexibility, efficiency, and programmability for end-user transactions.