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Theres a gap in the financial services market when it comes to integrating crypto into the mainstream financial system. FinXP is a European fintech company that is working to close this gap and help boost crypto adoption. It is a trusted partner for crypto companies requiring fiat banking and payment solutions; solutions that have now become notoriously limited in the sector.

While there is distrust around crypto in the mainstream financial industry, crypto use and adoption continue to grow. The global market for cryptocurrency was worth $4.67 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.5% from 2023 to 2030.

The average daily trading volume for crypto sits at around $50 billion. In 2020 there were over 120 million financial transactions made with Bitcoin, the largest and most valuable crypto.

By 2027, it is predicted that crypto will have over 993 million users globally. This will bring user penetration from its current rate of 8.8% to approximately 12.5% worldwide. However, there is a significant barrier that is hurting the retail adoption of crypto. That is the difficulty that many have in finding an onramp to convert easily between crypto and fiat currency.

Traditional banking institutions have been skeptical about crypto adoption and transacting with crypto exchanges. The problem has grown more acute in the short term, as major players in the cryptocurrency banking industry, such as Signature Bank and Silvergate Bank, have pulled out of the sector.

In recent months there have also been moves made by regulators in an attempt to slow down transactions between crypto exchanges and banks. In 2020, 63% of financial institutions still described crypto as a risk rather than an opportunity.

Allowing users to deposit and withdraw fiat funds through crypto exchanges is key to onboarding the growing base of crypto users. This gap in the fintech market has created a space for forward-thinking alternatives to traditional banking.Why Exchanges Are Turning To Closed-Loop Payments

One solution that seems to be gaining traction in the fintech space is closed-loop payments. A closed-loop payment system is where both the end-user and the merchant share a common payments ecosystem.

If both a crypto exchange and its users hold accounts with the same banking partner, then payments between them would be fast, approval would be almost guaranteed, and cross-border payments wouldnt be an issue.

User accounts could also be linked to debit cards enabling individuals to more easily spend or withdraw their funds, thus adding to the utility of the account.

Closed-loop payment systems are seeing increasing popularity, with almost two-thirds of fintech and payment firms saying they will launch a closed-loop payment product by the end of 2023. A reason for their popularity is their high transaction approval rate and their ability to simplify and increase the speed of cross-border transactions.

FinXP is a leading provider of closed-loop payments for crypto exchanges. As an award-winning payments and banking solutions provider, FinXP stands out by not just providing banking solutions to the crypto industry, but they also offer several payment processing solutions.

The company works with crypto exchanges and crypto wallet providers to provide specialized custom payment solutions. It believes that many crypto investors are willing to open an IBAN account specifically to facilitate trading and investing in crypto. Its confident that its solutions can help boost crypto adoption and increase customer loyalty for its clients.

Visit FinXPs website to learn more about the company, or stay up to date with the industrys news and subscribe to FinXPs newsletter.

Read prior coverage by Benzinga on FinXP here.

Image used under license from FinXP from stock.adobe.com.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

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Bech Senior Bowl MVP month after brother’s death

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Bech Senior Bowl MVP month after brother's death

TCU wide receiver Jack Bech was selected MVP of the Senior Bowl on Saturday, catching the winning touchdown pass a month after his brother died in the pickup truck attack in New Orleans.

On fourth-and-goal late in the final quarter, Bech caught a 2-yard touchdown pass from Memphis quarterback Seth Henigan to give the American Team a 22-19 win over the National Team in Mobile, Alabama.

Bech’s older brother, Tiger, was a former All-Ivy League kick returner for Princeton and was among those killed in the terror attack in New Orleans’ French Quarter district on New Year’s Day.

Bech wore his brother’s No. 7 during Saturday’s game, and the clinching touchdown came with seven seconds remaining.

“Man, it’s simple: My brother has some wings on me,” Bech told NFL Network. “He gave them to me, and he let that all take place. My Lord and savior, Jesus Christ. Tiger. Nothing else but them. They’re the reason I did what I did today. I attribute it all to them.”

Bech had 62 catches for 1,034 yards and nine touchdowns last season for TCU.

The week leading up to Saturday’s all-star game and the Senior Bowl itself represented opportunities for Bech to showcase his talents ahead of April’s NFL draft.

“It’s been surreal just to be able to come and take place in this game,” he said. “It’s a goal that you set for yourself. But if I had the option that if I came here, had the worst week ever, ruined my draft stock and that means I could give my brother a hug right now, you know I would take that.

“On the flip side, I don’t think I could have had the week I had if all that didn’t happen.”

Bech had six receptions for 68 yards in the game. He joins Dak Prescott, Justin Herbert and Daniel Jones as past Senior Bowl MVPs.

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OU’s Venables to call plays, adds two assistants

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OU's Venables to call plays, adds two assistants

Oklahoma head coach Brent Venables will handle defensive playcalling responsibilities for the Sooners in 2025, he announced in a statement Saturday, assuming full control of the program’s defense for the first time since took over in late 2021.

Oklahoma has spent more than a month searching for its next defensive coordinator since former playcaller Zac Alley left for the same role at West Virginia on Dec. 29 after one season with the Sooners.

Venables’ announcement came as Oklahoma introduced a pair of defensive assistants Saturday — former Arkansas State defensive coordinator Nate Dreiling and former Clemson defensive playcaller Wes Goodwin.

“I have reflected on all facets of our program over the past several weeks,” Venables, entering his fourth season at Oklahoma, said in a statement. “Since I was hired as head coach, we have carefully assembled the defensive personnel and scheme that is suited to compete at the highest level, and we’ve built a deep and talented roster ready for the moment. I have high expectations for our program and will do everything in my power to achieve our goals for our players. To that end, I will take over defensive playcalling responsibilities for the 2025 season.”

Drieling, who will coach inside linebackers, was hired at Arkansas State last month after spending one season at Utah State, where he served as defensive coordinator and interim head coach last fall, leading the Aggies to a 4-8 finish after replacing Blake Anderson. Goodwin replaced Venables as Clemson’s defensive coordinator in 2022 and spent three seasons leading the Tigers defense before his firing following the 2025 campaign.

The pair of defensive minds follow first-year offensive coordinator Ben Arbuckle as the latest additions to Venables’ staff this offseason.

“Adding Nate and Wes to our team, with their extensive and diverse experience, simply adds to my expectations and excitement for our defensive unit,” Venables said. “I’m energized by the prospect of getting back into playcalling and for the continued momentum I see us gaining with the strategic moves we’re making on both sides of the ball.”

A three-time national champion coordinator, Venables’ decision to return to playcalling marks the latest evolution in his approach since taking over the Sooners. Former Oklahoma defensive coordinator Ted Roof served as the program’s playcaller for the 2022 and 2023 seasons before Venables turned to Alley, 31, in 2024.

Oklahoma finished 19th nationally and fifth across the SEC in total defense (318.2 yards per game) this past season.

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Huskers likely to cancel spring game, says Rhule

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Huskers likely to cancel spring game, says Rhule

LINCOLN, Neb. — The Nebraska spring game, one of the best attended in college football and a major revenue producer, likely won’t be held going forward because of coach Matt Rhule’s concern about other teams poaching his players.

“The word ‘tampering’ doesn’t exist anymore,” Rhule said Saturday at his midwinter news conference. “It’s just an absolute free open common market. I don’t necessarily want to open up to the outside world and have people watch our guys and say, ‘He looks like a pretty good player. Let’s go get him.'”

The spring game has a long tradition at Nebraska. Last year, the event drew 60,452 to Memorial Stadium, fourth highest in the nation behind spring games at Ohio State, Alabama and Penn State. The Cornhuskers’ game also was televised on the Big Ten Network.

“I dealt with a lot of people offering our players a lot of opportunities after that,” Rhule said. “So you go out and bring in a bunch of new players and showcase them for all the other schools to watch? Doesn’t make a lot of sense to me.”

Six Nebraska players entered the transfer portal the week after last year’s spring game.

The spring portal period ends April 25, the day before Nebraska’s spring practice wraps up. However, players can switch schools without entering the portal, as was the case with Wisconsin safety Xavier Lucas‘ recent move to Miami.

Rhule said exposing his players to other schools is more of a concern to him than risking injuries in a spring game. Wide receiver Demitrius Bell and cornerback Blye Hill were hurt in last year’s spring game and missed the season. Rhule said live tackling will continue in scrimmages during spring practice.

“Guys are being compensated now, and you’re putting money behind some people, a whole other set of parameters,” Rhule said. “Yet, at the same time, you have to get good. Honestly, to me, it’s about protecting the roster and protecting through that portal period.”

Asked if there would be a spring game with a scrimmage format to wrap up spring practice, Rhule said, “I don’t know that yet, but I’ll be honest with you, I highly doubt it.”

He said he does want to “show off” his players to the fans in some fashion. Athletic director Troy Dannen said on his radio show last week that a to-be-determined event would be held on April 26, possibly one that involves football and other fall sports.

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