Sage Capital Management has selected OpenPayd to extend its banking capabilities.
The firm writes that this latest development provides Sage Capital Management’s clients with fast settlement and enhanced technology capabilities, enabling them to move money seamlessly within a single platform.
“In addition, OpenPayd gives Sage Capital Management the ability to issue virtual International Bank Account Numbers (vIBANs) for every client, supporting the precise tracking of incoming and outgoing payments and simplifying reconciliation.
“Building on Sage Capital Management’s existing banking capabilities, the integration expands USD, EUR and GBP payment capabilities across its platform, giving institutional clients broader fiat access as they move money into and out of digital asset markets.
“Through OpenPayd, Sage Capital Management has a USD account with SWIFT connectivity for fiat on/off-ramping, EUR payments via SEPA, and GBP payments through Faster Payments and SWIFT. The multi-rail access supports client payment collections and fiat settlements to liquidity providers, a core operational need for institutions trading digital assets at scale.”
For Sage Capital Management’s institutional clients – hedge funds, asset managers, trading firms, brokers, corporate treasuries and digital asset treasuries – the added currencies and payment networks via OpenPayd provide greater optionality in how they fund activity and settle with liquidity providers, without relying on a single rail or currency corridor, the firm says.
Lux Thiagarajah, Chief Commercial Officer at OpenPayd, says: “Institutional access to digital assets depends on being able to move money efficiently on both sides of the trade. Fiat on/off-ramping gives institutions greater choice in how they access digital asset markets, while reliable payment connectivity is essential for moving funds between clients and counterparties. Sage Capital Management is simplifying how institutions access digital asset markets, and our role is to provide the fiat connectivity that supports that proposition.”
Nathan Sage, CEO at Sage Capital Management, says: “OpenPayd is a major player in the crypto banking ecosystem, and this strategic partnership adds further strength and credibility to our platform. Our focus remains on providing clients with fast, flexible, secure and seamless access to global banking networks, enabling clients to move quickly between fiat and digital assets, and manage payments and FX. Our partnership with OpenPayd enables us to meet the highest standards of transparency and regulatory alignment.”
