The ChangeHero team believes that the partnership with Coinify, which we announced a while ago, will go a long way. To give the insight into the vision we would like to build by joining hands, today we share with you the interview with Mark Højgaard, CEO of Coinify, that we were very honored to make it happen.
As a Chief Executive Officer, Mark defines the strategic development of his company. He has had almost two decades of experience in online, mobile and card payment industries, but his forte is innovative entrepreneurship. Aside from Coinify, he also co-founded companies like MySafePay and MobilCash, and he is extensively involved in Forbes Finance Council and Nordic Tech Advocates, among others.
We asked Mark about what makes Coinify a leading company in its sector in Europe and how will the partnership of our teams benefit our customers, and we’re very excited to share his point of view with our readers!
On Coinify, firsthand
ChangeHero: Can you tell us a bit about Coinify for our readers?
Mark Højgaard (MH): Coinify was started in 2014 and is the leading European virtual currency payment provider. We offer a range of solutions within the virtual currency sphere, divided between payment and trading solutions. We help our customers accept cryptocurrency payments and deposits, enable withdrawals into cryptocurrencies and provide their customers with the opportunity to trade between fiat and exchange cryptocurrency from their website and/or app.
ChangeHero: What made you start Coinify? What was the motive behind it?
MH: We saw a need in the market for a safe and compliant means for users to operate and trade between the fiat and cryptocurrency world, and so we started Coinify to act as that bridge. We continue to act as that bridge for our customers today, making it easy for them to transact and trade in their preferred currency, be it fiat or virtual, while still taking advantage of exciting innovations in the finance space.
ChangeHero: What was the most challenging thing when you began working on Coinify and how did you overcome this?
MH: I think, generally speaking, one of the biggest challenges within the virtual currency sphere is regulation, or the lack thereof. Because virtual currencies were a completely new technology, it took some time for the regulatory landscape to catch up. To combat this, at Coinify we have always put emphasis on compliance, working with the Danish Financial Supervisory Authority to become registered, and have even advised regulatory bodies on the creation of the latest AML 5 Directive from the EU.
While navigating the regulatory environment can sometimes be difficult, it is very reassuring to see the progress there has been so far, because stronger regulation within the virtual currency sphere can only mean a better solution for our customers.
On Business in Crypto Today
ChangeHero: Do you think now everybody has access to crypto? How does Coinify contribute to this?
MH: Because of varying regulatory perspectives, access to virtual currencies also varies globally. At Coinify we actively work to make it easier for citizens across the world to access our cryptocurrency services. We are constantly increasing our support for countries across the globe, having added support for Russian citizens and the RUB just last week and begun developing our support for the African continent with support for South Africans and the ZAR last month.
ChangeHero: Can you share some statistics about Coinify? For example, how many merchants have already integrated Coinify, currencies you support, and the countries you operate in.
MH: We currently support over 65 Payment Service Providers representing a massive network of merchants, all operating in 5 continents over 70 countries, and offer solutions with up to 11 virtual currencies and over 25 fiat currencies. These figures are changing and growing everyday.
ChangeHero: Regulation is another important factor in the industry. Can we expect governments to amend the laws and adopt blockchain tech?
MH: At Coinify we place a strong emphasis on compliance, so we have been very happy to see the regulation around virtual currencies develop. The latest AML 5 Directive from the EU has had a positive contribution to making the industry safer and ultimately better for our customers. We expect this trend to continue, and we very much welcome this.
ChangeHero: How is the working environment in Coinify? Did the recent outbreak affect the way the team works?
MH: I am fortunate to have a fantastic team at Coinify who proved to be very agile, especially during the recent outbreak. Like many other companies, we were forced to completely change our means of working and work from home for over a month, and we have thankfully found that it was in fact very successful, and our team managed to overcome this challenge. In fact, some of our team enjoyed the experience so much that they will now continue working only from home.
On Collaboration and Future Plans
ChangeHero: We are happy to have a bilateral partnership with Coinify. Can you share with us how this partnership helps your users?
MH: We are also very happy to have partnered further with ChangeHero, and feel that this benefits the overall virtual currency industry by continuing to provide additional means for customers to exchange cryptocurrency with fiat in both directions, in a safe and easy manner.
ChangeHero: Can we expect a new product from Coinify soon? What is your vision for the future?
MH: We pride ourself at Coinify on continuing to offer valuable solutions and features for our customers. Most recently we have extended our option for buying virtual currencies via bank transfer, by adding additional fiat currencies for customers to choose from, including USD and CAD, DKK, NOK and SEK on top of EUR, GBP and CHF which we already offered.
We expect there to be more updates which will continue to improve the ease with which customers can exchange cryptocurrency to and from fiat in the near and continuing future.
Both Coinify and ChangeHero are working towards the reality in which a financial system is modern, accessible, diverse and safe to navigate. Having joined hands, both our teams have better chances of making it happen! We thank Mark for sharing his piece of mind with us and our readers.
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