Moneybrain – the sister company of peer-to-peer lending platform JustUs – has joined Visa’s fintech fast-track program to bring its UK offering to consumers in the US.
The fast-track program will also speed up the process of integrating with Visa and allowing Moneybrain to more easily leverage the reach, capabilities, and security that Visa’s global payment network offers.
“Old money is out, new digital money is in!” said Lee Birkett (pictured), chief executive and founder of JustUs and Moneybrain.
“Fintech firms, and in some cases big technology firms, are developing alternatives to traditional forms of money. Moneybrain, as a UK regulated P2P platform, have developed their own asset backed digital money (BiPS) that can be bought with traditional currencies and stored in the global Moneybrain super app.
“BiPS can also be exchanged in-app with world leading crypto currencies Bitcoin and Ethereum plus many others. We will continue to build an open and fairer financial system for the world with the Moneybrain digital asset Visa card.”
Moneybrain will use the Railsbank open banking platform to facilitate its expansion into the US market.
Louisa Murray, chief operating officer (UK & Europe) of Railsbank, said: “It is great to see our customer, Moneybrain, joining Visa’s fintech fast track program, which will see it move to a new, exciting level in its development.
“Moneybrain is aptly named, as it develops innovative financial products which are in great demand from an increasingly savvy consumer.
“We are proud that Moneybrain is using the Railsbank platform to be a force within the industry.”
“By joining Visa’s fast track program, exciting fintechs like Moneybrain gain unprecedented access to Visa experts, technology, and resources,” added Terry Angelos, senior vice president and global head of fintech at Visa.
“Fast track lets us provide new resources that rapidly growing companies need to scale with efficiency.”