Carbon partners up with Wyre to offer users fiat-to-crypto rails

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Updated on Mar 11, 2020

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Carbon recently partnered up with a payment firm Wyre in order to come up with a new fiat-to-crypto gateway.
The company's CEO stated that users always expect new payment options, and there are not many providers of those at the moment.
He also hinted that the firm plans to take its business outside of crypto as well, stating that many others are likely to do the same in years to come.

Cryptocurrency company known as Carbon recently announced a partnership with a well-known payment provider, Wyre. The two decided to collaborate in order to start offering robust fiat-to-crypto rails to their customers.

As some may know, Carbon is a firm that aims to help payment firms instantly onboard cryptocurrency users through its widget or API. The company managed to launch a beta version of its new exchange-processing gateway recently, with the goal of allowing exchanges to process debit and credit cards at lower fees.

At the moment, the company is focusing on the EU-based clients, although its partnership with Wyre will allow it to expand and offer its products to US-based companies, and in extent, users.

Meanwhile, Carbon CEO, Sam Trautwein, revealed that users always expect new options when it comes to cryptocurrency payments. This is why developers need to make sure that their solutions are capable of supporting as many assets as possible. Not only that, but the products need to be available in as many countries as they can.

He added that, historically, most of the money that found its way into the crypto sector did so through the wire. However, the majority of consumers never sent money through the wire. He also stressed that there are not many groups that offer a robust offering that would include a variety of jurisdictions and rails. This opened up an excellent opportunity for Carbon to be among the first ones to do it.

Carbon will not limit itself to crypto payments only

He also commented on the partnership with Wyre, stating that he sees it as an excellent stepping stone towards reducing friction and cost for onboarding new blockchain users. In fact, he firmly believes that fees need to be reduced in order for the sector to keep growing. However, that does not mean that Carbon plans to limit itself to the crypto market.

Last year, in October, the company became a member of Y Combinator’s 2020 batch, and it currently works on creating new products, alongside companies like Brex and Stripe, which do not deal in crypto payments. The company plans to target markets outside of crypto as well, and he sees that as the future for a lot of firms that currently deal in crypto payments alone.