LegionPay, the C2B crypto payment gateway announced its successful launch this week after co-founder Andrew Anastasiou accepted a feature in a local Cyprus based newspaper.
The award-winning Cypriot entrepreneur, Andrew Anastasiou is said to have created this new project in order to further bridge the gap between traditional FIAT currency transactions and bitcoin transactions, enabling high-risk merchants in the forex and online casino industries to receive funds both cost-effectively and efficiently through the LegionPay payment gateway.
LegionPay is also offering the set-up of the service for free, with Andrew Anastasiou stating “the goal is to create a payments ecosystem that allows our merchants to receive deposits quickly and easily, without being hit with high transaction fees and onboarding fees”. This seems to be a true statement, as the company also boasts the lowest fees currently available for such transactions. At a 0.8% deposit fee, it would appear that the goal of this project is to follow a “mass market” structure as opposed to the more practiced cash flow structure which sees merchants hit with high tariffs in order for the provider to grow its profits.
Theo Antoniou, who currently heads up the Sales Department of a Cyprus based online banking provider, explained to us that “I feel the days of following the cash cow route when it comes to building a company are coming to an end and more companies are focussing on using investor funds to prop the company up in order to offer cut-price services to gain mass-market abilities”.
The service also provides a fully autonomous back office, allowing its users the opportunity to manage their funds just like they would with normal online banking. They will be able to receive their funds, withdraw to their accounts, and even exchange back to FIAT currencies if they wish to receive their funds to their bank accounts.
As well as all of the above, LegionPay offers one of the most simple and easy management integration guides available, so there is no need to hire specialists or integration executives to set your company up with the service. With all of these benefits, we expect to hear great things from this company in the near future.
