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Mercury Cash

Multinational Financial Institution

Estonia
Market: Financial services
Stage of the project: Operating business

Date of last change: 25.08.2020

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Mercury Cash is a multinational financial institution registered with the US Treasury Department (31000107380194) and the Estonian Financial Intelligence Unit (FFA000354), as well as licensed as a money transmitters by the Florida Office of Financial Regulation (FT230000208) in the United States. Mercury Cash brings a digital payment solution that currently has more than 14,000 customers around the world, our platform allows you to Real-time transfers, payments and currency exchanges between cryptocurrencies and FIAT money in an intuitive way. Our service is available on iOS and Android for yo

Current Status

20,000 Users
+200mm processed
3 banking partnerships (1 US , 2 EU)
Revenue generated in 2019 $1.7mm USD
Core software developed in-house, including AML Monitoring system and Back-office
Trademarks registered in US and EU
Licenses in US (Florida) and EU (Estonia)
Employees 45 (including offshore positions)
4 years since the creation
Pre-approval from Central bank of Lithuania for EMI license and IBAN issuance (Euro Bank Account)
Runaway 1 year

Market

GLOBAL PROCESSING PAYMENTS
· $30 Trillion are processed annually in payments with an estimated of $870 Billions on fees. 2.9% average cost.
· $8.9 Trillion are processed in the United States.
· Excluding the CHINA market since is a closed market.
· Distributed between merchants, issuers, acquirer, networks, consumers.
Source: Wikimedia Commons and Bernstein Analysis

MONEY TRANSMISSION
· $615 Billion are sent annually in payments with an estimated of $870 Billions on fees. 2.9% average cost.
· $81.5 Billion are sent to LATAM with a sending cost 5.8%