Swarm Launches Support for Fiat Currencies on their Security Token Marketplace

Swarm, a non-profit providing open infrastructure for digital securities, announced today its integration with Mercury FX, a trusted global currency specialist. Through this integration, investors using Swarm’s platform can now commit funds using over 30 fiat currencies, including USD, EUR, CHF and GBP.

This is an essential development for the security token industry, emphasised by the recent volatility within the 
cryptocurrency markets. Companies raising funds through an STO cannot accept double digit drops in their raise. Additionally the friction for retail investors to acquire cryptocurrency is a problem. 

“It’s become obvious that familiarity and trust are key to investors in order to create adoption for digital securities. Fiat gateways create that reliable and convenient entry point, so that people can now commit their fiat currencies against the investment opportunities on Swarm,” said Philipp Pieper, CEO and Co-Founder of Swarm. “The team at Mercury FX brings the experience, scale, and global reach to make this happen for investors.”

Mercury FX was established in 2007 to provide a faster, transparent solution for secure foreign exchange (FX), with a focus on client service. With offices in London, Hong Kong, and Cape Town, they have steadily grown to be a leading player in the space. Most recently, Mercury FX became one of the first payment providers with access to Ripple’s new xRapid cross-border payment solution.

“We are thrilled to be working with Swarm, and to bring this innovative solution to so many investors,” said Alastair Constance, Founder of Mercury FX. “Swarm’s  open technology is a perfect compliment to Mercury FX, and they share our mission of constantly finding better ways to safely connect people and their money.”

The Swarm fiat gateway is live now, having debuted earlier this week alongside the launch of The Art Token (TAT), the newest security token on Swarm. Mercury FX and Swarm plan to expand to support even more fiat currencies, and to do so across the tokens on Swarm’s marketplace.

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