TrustLinq - Swiss‑regulated crypto‑to‑fiat payment platform.

[satscraper]

Today I found intriguing press release about new crypto-to-fiat payment platform, namely TrustLinq, launched in Switzerland. It allows users to pay directly in crypto across 70+ fiat currencies without needing the bank account.

On official site they state that TrustLinq secures fiat payments to recipients via bank transfer ^{though I couldn’t find which bank is involved}.

Supported assets include USDT (ERC20 & TRC20), USDC, and EURC.

They also promise to issue the crypto card next year.

Seems to be an alternative to the crypto cards I already have.

[Z-tight]

This is interesting. Though BTC is not one of the accepted cryptocurrencies, i believe they stuck with stablecoins to mitigate volatility risks during the whole process. However, since this is a crypto-to-fiat payment platform, then i believe there has got to kyc requirement involved, did you try to register on the platform to see what the process is like?

I also hope the platform is legitimate and that they are fully Swiss regulated like they claim.

[satscraper]

This is interesting. Though BTC is not one of the accepted cryptocurrencies, i believe they stuck with stablecoins to mitigate volatility risks during the whole process. However, since this is a crypto-to-fiat payment platform, then i believe there has got to kyc requirement involved, did you try to register on the platform to see what the process is like?

I also hope the platform is legitimate and that they are fully Swiss regulated like they claim.

Yes, KYC is required to be eligible to use this platform.

Regarding registration, no, I haven’t tried yet because ^{as I mentioned} I have a few crypto cards that cover my living expenses with crypto. I consider TrustLinq as backup for my payment routine in case something unexpected happens with the payment services I already use.

BTW, my crypto cards also require KYC.

[The Cryptovator]

Today I found intriguing press release about new crypto-to-fiat payment platform, namely TrustLinq, launched in Switzerland. It allows users to pay directly in crypto across 70+ fiat currencies without needing the bank account.

Right now I have visited their website after reading your post. Seems interesting to me, and I have been looking for something similar to send money to my bank account. Because when I can receive directly into my bank account, then I don't need to pay the tax for that, though it does cost a lot sending funds into my bank account. But much less compared to the tax I am paying to the government.

I have struggled to find the list of the receiver country. Seems I have to register to get it. Haven't seen any list of the countries where you can send money from the TrustLinq. Also, SWIFT transaction fees should be reduced; they seem pretty high. Are you sure they are trusted? I don't care about their card system; I just need to make international transactions to my own bank. I have been using a reputed card, so I just need their global payments services.

[dkbit98]

No thank you, I am not interested in this crap.
They don't accept Bitcoin, they are asking for identity verification, and they are charging additional fees for everything.
I can only imagine what could happen if or when personal data gets leaked from websites like this

They also promise to issue the crypto card next year.

Seems to be an alternative to the crypto cards I already have.

It's not alternative if they are going to release card next year.

[satscraper]

Are you sure they are trusted?

I can’t say much about this yet because it seems to be the newly launched service. It needs to stand the test of time before it can be regarded as trustworthy. That’s why I mentioned that I consider it only as the backup for the crypto payment routine I already use. That said, anyone can start testing it with the small amount of money first. Transfer of around 50 EUR shouldn’t hurt too much if something goes wrong. This seems like the safest way to deal with doubts about trust.

[NotATether]

No thank you, I am not interested in this crap.
They don't accept Bitcoin, they are asking for identity verification, and they are charging additional fees for everything.
I can only imagine what could happen if or when personal data gets leaked from websites like this

I think ID verification is the only way these platforms can legally operate. You're obviously not going to see services offering settlements to people's bank accounts (IBANs?) without it.

Also it wouldn't surprise me if this service was geo-restricted to people in the EEA for this reason.

[Z-tight]

Also it wouldn't surprise me if this service was geo-restricted to people in the EEA for this reason.

The information in the website is that you can make crypto-to-fiat payments in > 70 local currencies in the world, so i believe it should be available in more than the 30 countries in the European Economic Area. Except if only people in the EEA would be able to use the service to send payments, while others outside can only receive payments in their bank accounts.

I think ID verification is the only way these platforms can legally operate. You're obviously not going to see services offering settlements to people's bank accounts (IBANs?) without it.

I agree with you on this. There is absolutely no way they would stay on the right side of the law if they do not require identity verification.

[SFR10]

Supported assets include USDT (ERC20 & TRC20), USDC, and EURC.

And in their FAQ section, they did mention the possibility of adding more cryptocurrencies in the future.
^{- FWIW, I don't like any platform that charges an "incoming fee" and this one does it!}

They also promise to issue the crypto card next year.

IMO, their other plan in the latter part of the press release regarding "direct cryptocurrency-funded purchases at traditional merchants" is more interesting ^{[assuming they can execute it well]}.

That said, anyone can start testing it with the small amount of money first. Transfer of around 50 EUR shouldn’t hurt too much if something goes wrong. This seems like the safest way to deal with doubts about trust.

You have a point, but unfortunately, a lot of scammers have started processing smaller amounts at the beginning to gain trust and as soon as someone uses their platform for a large amount, that's when they'll scam them ^{[hopefully, this one is legit]}.

[Z-tight]

And in their FAQ section, they did mention the possibility of adding more cryptocurrencies in the future.

Hopefully they add BTC in the future. It would surely attract more customers if BTC is one of the cryptocurrency options in this service.

^{- FWIW, I don't like any platform that charges an "incoming fee" and this one does it!}

I actually missed this part when i went through their website. I agree with you, i don't think it is cool for a service to charge for deposits, because that is simply what incoming fees mean. This would surely discourage a few people, no matter how 'low' the fees are.

You have a point, but unfortunately, a lot of scammers have started processing smaller amounts at the beginning to gain trust and as soon as someone uses their platform for a large amount, that's when they'll scam them ^{[hopefully, this one is legit]}.

Yeah, a lot of new services do this. Especially fake investment platforms and unknown scam exchanges. This service will somehow have to get a bit popular before one would be comfortable using it.