- Founded
- 2017-01-01 in Tallinn, Estonia
- Headquarters
- Tallinn, Estonia
- hello@swapin.com
Swapin is an EU-licensed crypto payment solutions provider headquartered in Tallinn, Estonia. Founded in 2017, the company enables businesses to accept Bitcoin, Ethereum, and other cryptocurrencies while receiving fiat currency (EUR, GBP, USD) directly into their bank accounts—often within minutes. Swapin serves as a non-custodial bridge between digital assets and traditional banking, offering a suite of tools including payment links, custom API integrations, and a Dedicated IBAN service. The platform is regulated under Estonian license FVT000088 and undergoes annual audits by Grant Thornton. With over seven years of industry experience, Swapin focuses on B2B clients across sectors such as luxury goods, real estate, investment platforms, IT services, and online gambling. The company emphasizes speed, compliance, and ease of integration, allowing merchants to accept crypto without managing wallets or seed phrases. Swapin also provides crypto on-ramp/off-ramp widgets that can be embedded into third-party platforms, expanding its reach in the Web3 ecosystem.
Detailed Review
Business Model
Swapin positions itself as a regulated, non-custodial payment gateway that solves a key pain point for businesses: accepting crypto while receiving fiat settlement. Unlike custodial solutions, Swapin never holds customer funds; transactions flow directly from the payer’s crypto wallet to the merchant’s bank account. The company holds an Estonian virtual currency service provider license (FVT000088) and is audited by Grant Thornton, adding a layer of trust for enterprise clients.
Products
The product portfolio centers around three main services. SwapinCollect is a plug-and-play payment link that allows merchants to generate a link or QR code and accept crypto payments, with automatic conversion to fiat. Swapin API provides customizable integration for businesses requiring deeper control, including automated KYC, open banking payments, and support for multiple blockchains (Bitcoin, Ethereum, Polygon, TON). The Dedicated IBAN service gives each business a named IBAN, enabling them to pay invoices with crypto or withdraw funds in EUR/GBP/USD.
Recent Growth
In 2024, Swapin reported a 12x increase in crypto on-ramp usage and expanded its blockchain support to Polygon and TON. It also introduced open banking payments alongside SEPA transfers, and built an API layer for custom integrations. The company strengthened its B2B focus, signing clients in luxury goods, real estate, car dealerships, and investment platforms. Swapin attended industry events like ICE, Money20/20, SBC, AWSummit, and SiGMA, indicating its active presence in the iGaming and gambling vertical.
Team and Scale
The team is lean—based on the 2024 recap, the support team added one member and sales added three, suggesting a total headcount likely between 20 and 50. The company does not publicly disclose funding details, but Crunchbase and Tracxn list it as a seed-stage company based in Tallinn.
Potential Weaknesses
Swapin’s reliance on the Estonian regulatory framework may limit its appeal in jurisdictions with stricter crypto laws. The company is also relatively small, which could impact scalability for very high-volume merchants. Additionally, its non-custodial model, while secure, may require more technical integration compared to custodial alternatives.
Key Products
SwapinCollect
A payment link / QR code solution that allows businesses to accept crypto payments and receive fiat (EUR, GBP, USD) in their bank account. Ideal for quick onboarding without API integration.
Crypto On-Ramp / Off-Ramp Widget
Embeddable widget that allows third-party platforms to offer crypto buying/selling directly within their app or website, using Swapin’s infrastructure.
Swapin Pay Invoices
Service that lets businesses pay supplier invoices using cryptocurrencies, with conversion to fiat on the backend.
Swapin API
Customizable REST API for businesses requiring full control over crypto-to-fiat conversion, including automated KYC, open banking, and multi-blockchain support (Bitcoin, Ethereum, Polygon, TON).
Dedicated IBAN
A named IBAN account in the business’s name for receiving fiat settlements, paying invoices with crypto, or withdrawing funds. Enables seamless crypto-to-bank transfers.
Key Persons
- Evald-Hannes Kree
Co-Founder