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The Midnight Foundation has selected Bloomsbury Money as its exclusive partner for foreign exchange, cross-border payments, and employee debit cards, marking a significant collaboration between blockchain privacy technology and traditional financial infrastructure.
The partnership connects Midnight's privacy-enhanced blockchain technology with Bloomsbury's regulatory-compliant financial services. Bloomsbury Money, an Electronic Money Institution (EMI), will provide multi-currency accounts and card services to support Midnight's global workforce and vendor payments.
The arrangement emphasises what both parties term "Smart Compliance", combining rapid cross-border payment capabilities with strict regulatory standards and transaction monitoring.
Fahmi Syed, President of the Midnight Foundation, addressed the selection process:
“We have a global team building the future of real-world privacy. We need partners who understand our needs and direction, Bloomsbury Money understands our industry. They support us with the speed and reliability we need to pay our people and vendors, they also understand the power of Midnight and how our network will provide rational privacy to all stablecoin transactions as part of their Midnight integration.”
Bloomsbury Money specialises in serving international sectors with complex financial requirements. The firm positions itself to support businesses operating at the intersection of traditional finance and emerging technologies.
Michael Siwek, Bloomsbury Money
Michael Siwek of Bloomsbury Money commented on the partnership:
"We built Bloomsbury to help businesses that are pushing boundaries. Midnight is doing critical work in data privacy. We are proud to provide the payment infrastructure that lets them focus on their technology with Smart Compliance, knowing their financial operations are compliant and secure."
The Midnight Foundation operates the Midnight network, a blockchain designed to preserve data privacy for commercial and personal information. The organisation requires financial services capable of supporting its international operations across multiple jurisdictions.
Manu Choudhary, Bloomsbury Money
Manu Choudhary of Bloomsbury Money described the strategic alignment:
"The synergy is evident. Midnight tackles blockchain privacy challenges; we streamline global capital for innovators. Our rigorous monitoring ensures safe scaling, it's a enduring alliance built on empowering businesses with greater asset autonomy."
The collaboration represents a long-term arrangement between the two firms, addressing operational requirements for Web3 organisations that face challenges in accessing conventional banking infrastructure.
Bloomsbury Money provides payment solutions, foreign exchange services, and card programmes for global businesses and private clients through its multi-currency account platform.
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