Swiss fintech Aximetria to support stablecoins in personal finance app

Aximetria, a Swiss fintech company, now supports stablecoins – Gemini USD and EURS – in its next-gen finance asset management app. 

Unlike other European neo-banks offering traditional currencies only to Europeans, Aximetria continues to adhere to the policy of providing high-quality, stable and secure financial instruments globally. Aximetria will also support all popular stablecoins in the application by mid-2019. This year the company will also extend its services to B2B payments on the basis of stablecoins, freeing businesses of a number of restrictions and limitations. Aximetria users can go through a remote verification process (KYC) and buy or sell global currencies using any bank card. They can also securely store and exchange for other currencies. Adding stablecoins is the next step in the company’s strategy to combine innovation and the highest level of security so inherent in financial Swiss services.

Since December 2018, Aximetria has pursued a strategy of regular entry into local markets where is particular demand. Russia, for example (the largest Eastern European retail market), was chosen as one of the pilot regions for the Aximetria app. Russia has traditional high-quality financial services but lacks useful digital asset management tools. Aximetria offered mobile financial service linking debit cards to a digital currency account. 

“We saw tremendous demand for such a card,” says Alex Ermakov, cofounder and CEO at Aximetria. “76 percent of Aximetria’s users from Russia ordered the card.” 

The average monthly turnover per user increased to almost $300.

Adding stablecoins is part of the company’s product offer for all, including people in Africa, Asia and Latin America, who otherwise have difficulty obtaining global fiat currencies. Legal and infrastructure barriers make access to the global marketplace very difficult for such people. 

“Our goal is to make daily transactions, payments or savings in stablecoins as easy and convenient for our customers as in any other currency,” Mr.Ermakov added. “Aximetria users enjoy the safety, comfort and ease of use through a simple, convenient mobile application.”

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