Damex Business helps clients improve the efficiency and profitability of their global payments processes through the movement, management and integration of digital and fiat assets.
they immediately assume it involves high-risk exposure to the volatility of the crypto markets. However, that couldn’t be further from the truth when it comes to the services offered by Damex Business. In fact, most of our clients use our solutions to protect themselves against volatility, to gain stability and predictability, to reduce costs and to increase the speed and efficiency of their payments systems.
At the epicentre of what we do is the conversion of digital assets (usually stablecoins) to fiat currencies and vice-versa in the most efficient and cost-effective way possible.
Stablecoins are pegged to the value of a fiat currency – normally the US dollar – although new stablecoins are emerging pegged to the euro and to sterling. Poundtoken’s 1GBP is a shining example of this.
is that they can be sent directly from the owner to any recipient without the need for an intermediary such as a bank. Often payments sent through banks can be slow and expensive, particularly international cross-border payments. Payments made with stablecoins using blockchain technology are instant and low-cost. Blockchain technology also means that all the records of every transaction are recorded and cannot be altered, so both the sender and the recipient can be certain that their funds are secure.
Damex Business facilitates stablecoin payments for clients around the globe reducing their costs, the time required for payments to be made and protecting them against volatility in local fiat currencies.
Damex Business was granted a DLT licence by the Gibraltar Financial Services Commission in 2017 after a lengthy, rigorous and demanding application process. Only 14 of these licences have ever been issued which is a reflection of the standards laid down by the GFSC under Gibraltar’s DLT regulatory framework.
This licence gives certainty to all that Damex Business implements the highest possible standards of governance ensuring client funds are fully protected and secure.
Purchasing and investing in Digital Assets is a high-risk activity which incurs risks which are not inherent in managing traditional financial instruments and other assets. The value of digital assets, other digital assets or fiat currencies is not indicative of future performance.
Digital Asset Management Limited is a Company registered in Gibraltar with registration number 116618, with registered business names and trading as ‘Damex’ and ‘Damex.io’. Damex is authorised by the Gibraltar Financial Services Commission (Licence Number 24738) as a Distributed Ledger Provider to provide custody solutions and broker/dealer services under the Financial Services Act. These services are separate and unrelated to the account and payment services you receive from Modulr FS Ltd. Digital Asset Management Limited is a registered EMD agent of Modulr FS Limited, a company registered in England and Wales with company number 09897919, which is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr FS Limited. Your card is issued by Modulr FS Limited pursuant to a license by Visa Europe. Visa and the Visa brand mark are registered trademarks of Visa Europe.
Damex.io UAB is a joint stock company registered in the Republic of Lithuania (under company number 306148560), with registered address at Žygimanto Liauksmino str. 3, Vilnius, Lithuania and is registered by the State Enterprise Centre of Registers of the Republic of Lithuania as a provider of virtual currency exchange and virtual currency wallet provider. These services are separate and unrelated to the account and payment services you receive from Modulr Finance B.V . Damex.io UAB is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your card is issued by Modulr Finance B.V. pursuant to a license by Visa Europe. Visa and the Visa brand mark are registered trademarks of Visa Europe.
Your account and related payment services are provided by Modulr FS Limited, if you are registered in the UK, and by Modulr Finance B.V., if you are registered in the EU. Whilst Electronic Money products are not covered by the Financial Services Compensation Scheme (FSCS) your funds will be held in one or more segregated accounts and safeguarded in line with the Electronic Money Regulations 2011 (in the UK) and the Dutch Financial Supervision Act (Wet op het Financieel Toezicht, Wft) (in the EU). Click here to find out more.
The Damex application is presently undergoing testing and regulatory registrations in various jurisdictions. As a result, full public release and features of the application in your jurisdiction is subject to Damex’s permissions and authorisations.
Please also see our Risk Notice for further information.
