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Digital accounts without borders are becoming a key part of the cross-border economy
According to the European Central Bank, cross-border transactions within the EU exceeded €170 trillion in 2024. More and more users are turning away from traditional banks in favor of digital platforms offering access to multi-currency accounts and personal virtual IBANs. Services like Quppy, which integrate IBAN functionality directly into a mobile app, allow individuals and businesses to manage international payments with ease—fast, transparently, and without hidden fees.
📈 What changed in 2024–2025
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Over 28% of cross-border EU payments are now processed via neobanks and fintech platforms (McKinsey Digital Payments Report 2025)
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More than 60% of freelancers and self-employed professionals in Europe receive payments from abroad—typically in EUR, USD, or GBP
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SEPA IBANs are increasingly used not only by EU residents but also by remote workers and digital nomads from outside the bloc
The rise of remote work, cross-border commerce, and the demand for transparent, low-cost payments has made virtual IBANs one of the most sought-after financial tools in the region.
🧩 How virtual IBAN works in practice
A user opens a multi-currency account with a fintech provider and receives a personal IBAN—just like a bank account, but without needing a local bank branch or residence. This IBAN can be used for:
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Receiving payments from clients, employers, or platforms
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Sending international transfers via SEPA, SWIFT, and more
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Paying bills, subscriptions, or rent as an individual or business
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Storing and exchanging currencies inside a single wallet with no third-party bank fees
Quppy offers these features through its mobile app and also via API for businesses that want to integrate financial infrastructure without a banking license.
🧩 Who benefits most
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Freelancers and digital nomads — working across borders, getting paid from anywhere
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SMEs — optimizing international payments without maintaining multiple bank accounts
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Fintech startups — issuing IBANs to users through embedded finance without building core infrastructure
💬 Industry insight
A March 2025 report by the European Payments Council identified virtual IBANs as one of the cornerstones of the EU’s modern payment ecosystem. By 2027, more than 40% of all SEPA-initiated IBAN payments are expected to originate from fintech platforms rather than traditional banks.
🛠 Regulatory compliance and reliability
Fintech providers offering IBAN services must comply with strict European AML and KYC regulations. As a licensed payment institution, Quppy ensures full onboarding, transaction monitoring, and data protection aligned with banking-grade security standards—making it a trusted solution for both individuals and businesses.
✅ Takeaways
Virtual IBANs are becoming a cornerstone of Europe’s digital financial infrastructure. They give users access to international payments without bureaucracy, reduce operational costs, and simplify currency management. With platforms like Quppy, digital accounts are evolving into flexible tools for modern global finance.
Key benefits include:
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📲 Account setup in one day—no bank visit required
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💳 Personal IBAN with SEPA and SWIFT compatibility
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💱 Store and manage multiple currencies in a single wallet
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⚙️ API integration options for business platforms
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🔒 AML-compliant and banking-grade data security
