Eidoo, a cryptocurrency wallet platform with a built-in exchange, announced today that it has enabled instant SEPA transfers for European users.
SEPA stands for the Single Euro Payments Area. It is an established system for cross-border Euro bank transfers between countries in the Eurozone. SEPA aims to make these cross-border transfers around Europe as fast and efficient as a domestic transfer.
Until recently, wire transfers via SEPA could take up to two to three days to be processed. Recently, the system was been upgraded so now most transfers only take one working day to be cleared.
The wallet application is one of the first to integrate the instant SEPA feature as an on-ramp to purchase crypto-assets. In celebration of the new feature, Eidoo is offering free SEPA transfers for the next couple of weeks for users who have passed KYC verification.