- Founded
- 2018-01-01 in Vilnius, Lithuania
- Headquarters
- Vilnius, Lithuania
Finrax is a European crypto payment gateway that enables businesses to accept cryptocurrency payments and settle them in fiat currency. Founded in 2018 and headquartered in Vilnius, Lithuania, the company provides a fully regulated payment infrastructure designed to bridge the gap between digital assets and traditional finance. Its platform supports instant deposits, fixed exchange rates, and fast bank settlements in EUR, USD, and GBP, all while maintaining full compliance with EU anti-money laundering (AML) and counter-terrorist financing (CTF) standards. The gateway processes payments in under one minute and accepts ten cryptocurrencies, offering flexibility through a hosted checkout or direct API integration. Finrax positions itself as a cost-effective alternative to traditional payment processors, with transparent pricing and built-in protection against crypto volatility and chargebacks. The company holds the necessary licenses within the EU regulatory framework and serves businesses across multiple industries, including e‑commerce, iGaming, and financial services. With a team of 51–200 employees, Finrax has also secured strategic partnerships with payment orchestration platforms such as IXOPAY and FXBO, further extending its reach into the forex and online brokerage sectors. In 2023, it was named Best Crypto Payment Solution of the Year at the SiGMA Europe Awards, underscoring its growing influence in the digital payments space.
Detailed Review
History and Background
Finrax was established in 2018 with the goal of simplifying cryptocurrency payments for mainstream businesses. Initially operating out of Sofia, Bulgaria, the company later moved its headquarters to Vilnius, Lithuania, while maintaining an office in Sofia. It is registered as Finrax UAB, a private limited company under Lithuanian law, and is fully licensed as a crypto-asset service provider within the European Union.
Products and Features
The core product is a white-label crypto payment gateway that replaces the need for multiple integrations to different blockchains and fiat on/off ramps. Merchants can accept Bitcoin, Ethereum, USDT, USDC, and six other coins with a single connection. The system offers fixed exchange rates locked at the moment of transaction, protecting merchants from market swings. Flexible integration is available either as a plug-and-play hosted checkout page or a RESTful API for custom front-ends. Every transaction is screened against AML/CTF watchlists and suspicious activity is flagged automatically. A dashboard provides detailed reports and reconciliation tools, with fiat settlements sent to the merchant’s bank account in EUR, USD, or GBP. Payouts are processed within one business day via SEPA, SWIFT, or local payment methods.
Market Position and Partnerships
Finrax targets high‑volume merchants in regulated industries, particularly iGaming, forex trading, and e‑commerce, where fast settlement and compliance are critical. Its transparent fee structure and low processing costs are key differentiators against larger competitors like Coinbase Commerce and BitPay. The company emphasizes that its engine processes payments in under one minute, comparable to traditional card payments. Finrax has integrated with several third‑party platforms to broaden its ecosystem. A partnership with IXOPAY (announced in 2023) allows merchants using IXOPAY’s payment orchestration layer to add crypto acceptance without additional development. Another integration with FXBO enables forex and CFD brokers to offer crypto deposits and withdrawals. In 2025, Finrax partnered with the University of Nicosia’s Institute for the Future (IFF) to provide blockchain and Web3 education to its employees.
Regulatory Compliance and Recent Developments
Finrax holds the necessary licenses within the EU regulatory framework and serves businesses across multiple industries. In late 2025, Finrax announced that it would temporarily suspend CASP services as of 31 December 2025 while it seeks an updated license under the EU’s Markets in Crypto-Assets (MiCA) regulation, reaffirming its commitment to full regulatory compliance.
Key Products
Hosted Checkout
A plug-and-play integration allowing merchants to start accepting crypto within minutes.
Direct API
For businesses requiring a customised payment flow, with full control over the user experience.
Fixed Exchange Rates
Quotes locked for a short window, protecting merchants from price swings.
Multi-Currency Settlement
Fiat payouts in EUR, USD, or GBP via bank transfer.
Admin Panel
A backend dashboard for transaction management, reconciliation, and reporting.
Compliance Suite
Automated AML/CTF screening, transaction monitoring, and regulatory audit trails.
Stablecoin Support
Emphasis on USDC for fast, predictable settlements, with native support for the Lightning Network and Ethereum.
Finrax Crypto Payment Gateway
Core product enabling businesses to accept cryptocurrency payments and settle in fiat (EUR, USD, GBP) with fixed exchange rates, real-time monitoring, AML/CTF screening, and automated accounting reports.
Admin Dashboard
Real‑time transaction monitoring, automated accounting reports, and settlement management.
Compliance Engine
Automated KYC/AML screening integrated into every transaction flow.
IXOPAY Connector
Integration module that adds Finrax as a payment method within the IXOPAY orchestration platform.
FXBO Integration
Payment solution tailored for forex brokers, enabling crypto deposits and withdrawals through the FXBO back‑office.
Offices & Headcount
125 employees (approx.)
Key Persons
- Miroslav Marinov
Group CEO & Co-Founder