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Quick Take
- Request Finance acquires Pay.so in an undisclosed deal to enable seamless one-click on/off ramp for crypto and fiat payments, simplifying business transactions.
- This empowers CFOs and accountants by eliminating the need to off-ramp, saving time for over 3,000 businesses already using the platform.
- Solidifies its position as an all-in-one web3 accounting solution with this second acquisition in 2024, following Consola Finance, a crypto sub-ledger.
In a bold move to redefine payment workflows for web3 businesses, Request Finance has acquired Pay.so Lithuania, a regulated Virtual Asset Service Provider (VASP), according to CEO and Co-Founder Christophe Lassuyt in a LinkedIn post. This acquisition brings a new level of compliance and ease to crypto-to-fiat payments for web3 companies.
The Vision Behind Request Finance
Founded in 2020, Request Finance was created to tackle the unique challenges of crypto accounts receivable/payable (AR/AP) and payroll. With over $850 million in transaction volume processed for industry leaders like The Sandbox, The Graph, Open Zeppelin, Ocean Protocol, and Near, the platform has already transformed how web3 accountants and operators manage crypto payments. Its mission? Save time and simplify complexity in a world where traditional finance tools fall short.
“Before the acquisition, the CFO would struggle with payments with a separation between fiat and crypto processes, high and unpredictable fees, long-time transfers, banks' lack of capabilities, and challenging reconciliation. Now, the CFO uploads all fiat and crypto bills and makes one click to pay all 100 bills that reconcile automatically."
— Christophe Lassuyt, the CEO of Request Finance.
Why Pay.so matters & how it works?
The Pay.so acquisition unlocks powerful new capabilities for businesses: a multi-payee on/off ramp that turns crypto into fiat seamlessly. Even before the acquisition, Pay.so had been empowering Request Finance clients with one of the broadest currency coverages in the market, including USD, EUR, GBP, AUD, CHF, SGD, NZD, THB, HKD, IDR, CAD, INR, AED, KRW, JPY, MYR, and PHP.
Here’s how it works:
- Upload a fiat bill and enter the recipient’s bank details.
- Pay with crypto in one click through Request Finance.
- Recipient gets fiat - without ever knowing the payment started in crypto.
The result? Web3 businesses no longer need traditional bank accounts to manage their financial operations, enabling faster, simpler payments.
A Special Offer for The Accountant Quits Community
As a long-time educational partner of The Accountant Quits, Request Finance is offering an exclusive 2-month free trial for new users. It’s the perfect opportunity to experience how Request Finance can revolutionize your business payments.
With this acquisition, Request Finance not only simplifies payments but also cements its position as the go-to platform for all web3 financial operations, empowering businesses of all sizes to bridge the gap between crypto and fiat.
Umar, a Chartered Accountant and previous External Auditor at Deloitte & BDO, is the creator of The Accountant Quits.
By educating accountants about crypto accounting, Umar aims to help accountants upskill themselves for new career opportunities in Web3.