Financial news

Major cryptocurrencies integration

Orbital offers a solution by combining fiat and crypto business accounts. It enables global enterprises to integrate stablecoins and other major cryptocurrencies into their payment flows. 

Businesses can accept cryptocurrency payments from their customers, swiftly convert them into widely recognised currencies like USD, GBP or EUR, and promptly settle them into IBAN accounts within minutes. It empowers customers to instantly access new markets without needing a physical presence or domestic bank accounts.

Orbital is a licensed financial institution authorised by the UK’s Financial Conduct Authority as an authorised payment institution and by Estonia as a virtual currency service provider. 

The company was established by Chris Mason (CEO), Luke Wingfield-Digby (CIO) and Paulius Grigaitis (CTO).

“We believe all modern, global companies will require access to both blockchain and fiat payment rails, from one single platform, to effectively manage their business in the future,” Wingfield-Digby says. 

He emphasises that Orbital has been developed by experienced people who “deeply understand” the requirements of large enterprises, which have been “massively underserved” until now. 

“Our combined expertise in both traditional finance and crypto means that we are uniquely positioned to serve their demands,” he says. 

Wingfield-Digby adds that despite facing challenges in the crypto bear market, Orbital has grown rapidly since its bootstrapped and profitable inception in 2017. Now, the company is prepared to expand further and push its platform to the forefront of fintech innovation.

Golden Record Ventures’ general partner Jad Benabdelkhalek highlights that the annual volume of B2B payments surpasses worldwide GDP. However, the current cross-border flow structure is a disjointed combination of outdated approaches plagued with difficulties and inefficiencies. 

He praises the Orbital team for creating an exceptional and compliant technology platform tailored to the needs of large corporations and enterprises. 

“The global business community is starting to internalise the value and importance of stablecoins settlement, and we are delighted to back Orbital in its mission to overhaul traditional banking coverage,” he says. 

Over the past six months, the company has achieved impressive monthly revenue growth. It surpassed seven figures and increased by more than 40%. With approximately 80 clients, Orbital processes a substantial monthly transaction value of $250m (€265m). 

The company’s global workforce comprises 95 employees and maintains offices in London, Estonia, Gibraltar and Manila.