Solidgate Launches Treasury to Support Digital Businesses
Solidgate, a company specializing in digital business solutions, has unveiled its new product, Treasury. This innovative service is designed to assist businesses operating internationally with managing their financial operations more efficiently.
The Treasury platform offers multi-currency accounts that enable companies to handle cross-border transactions seamlessly. With features aimed at reducing the administrative workload typically associated with opening and maintaining business accounts and processing international payments, Solidgate’s new offering seeks to simplify access to essential financial tools.
Representatives from Solidgate explain that Treasury addresses several common challenges faced by businesses operating or expanding within the European Union. These include lengthy onboarding processes, excessive paperwork, and stringent compliance requirements. The platform is intended to ease entry into the EU market for digital companies, making it easier to manage day-to-day financial operations.
Features of Treasury
The Treasury service includes multi-currency accounts with unique IBAN numbers, initially supporting EUR and planned additions of USD and GBP in future versions. These accounts are issued directly without the need for intermediaries, allowing businesses to receive funds directly into their treasury.
Treasury is integrated with SEPA, enabling both regular and instant transfers via RT1 and TIPS channels. Direct SWIFT access will be added in upcoming updates. According to Solidgate officials, onboarding requires minimal documentation, focusing only on essential information. The pricing model is based on a pay-as-you-go basis; there are no setup fees, but specific services like outgoing SEPA transfers and account maintenance incur costs.
Future Enhancements
In the future, several additional features will be rolled out. These include transparent currency conversion rates, mass payments via Visa Direct and Mastercard Move, and the issuance of virtual corporate cards for business expenses, which are compatible with Apple Pay and Google Pay.
The target user groups for Treasury include entrepreneurs seeking access to banking infrastructure, small and medium-sized enterprises looking to expand into new markets, and existing Solidgate customers interested in integrating incoming and outgoing payments within a unified environment. The overall goal is to offer digital companies an all-in-one solution that combines payment orchestration with funds management, reducing reliance on multiple service providers.
