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Beginner's guide
Why SEPA is Important for Fiat OnRamp

Why SEPA is Important for Fiat OnRamp

Boshlovchi
2023-02-10 | 5m

Introduction

SEPA stands for Single Euro Payments Area. It is a framework of the European Central Bank (ECB) to enable customers to make cashless euro payments – via credit transfer and direct debit – to anywhere in the European Union, as well as a number of non-EU countries, in a fast, safe and efficient way - just like national payments. This way SEPA aims to harmonise and accelerate payments across the EU/EEA regions.

SEPA in Crypto

In essence, SEPA basically operates as a domestic wire transfer for EUR. In this vein, crypto exchange platforms can integrate SEPA into their fiat infrastructure which will allow customers across countries in Europe to make fiat deposits in EUR.

Advantages of SEPA in Crypto

  1. Asides from the EUR deposit, SEPA also allows customers to make seamless withdrawals back to their bank accounts

  2. There are currently 36 countries that participate in the SEPA framework - this gives crypto exchange and users the channel to integrate payment in these countries

  3. SEPA enables and facilitates fast and instant payment

  4. Crypto exchanges can earn fees from the SEPA transactions

  5. One of the more underrated functions of SEPA is the ease of transactions to make EUR deposits and withdrawals

How to make SEPA Deposits and Withdrawals

How to make a SEPA deposit: Here

How to make a SEPA withdrawal: Here

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