TL;DR:
EvoCash officially launched its Web3 financial services platform, which acts as a bridge between cryptocurrency wallets and regulated USD accounts. The company, headquartered in Singapore, is registered as a Money Services Business (MSB) with the United States Financial Crimes Enforcement Network, FinCEN, under the Bank Secrecy Act, which allows it to legally operate money transmission and currency exchange services both in that country and internationally.
EvoCash aims to solve one of the most persistent friction points in the crypto ecosystem: the efficient conversion of digital assets to fiat currency. Traditional banks often apply additional controls to cryptocurrency-related transactions, generating delays, restrictions, or account closures for users attempting to withdraw funds. This issue affects international freelancers, digital nomads, and companies with cross-border operations in particular.
The platform’s USD accounts are provided through agreements with financial institutions under the For Benefit Of (FBO) model, a structure that keeps user funds segregated from corporate assets and held in custody at the partner bank. This scheme allows access to dollar accounts without the usual requirements of conventional banking, maintaining the speed and accessibility that crypto users demand.
Available services include real-time conversion of USDT to USD, bidirectional flows between crypto assets and traditional currency, multi-asset trading, support for multiple blockchain networks, international payments in dollars, and access to traditional instruments such as precious metals. Onboarding does not require a pre-existing local banking relationship, which extends the service’s reach to users in jurisdictions with restricted financial access.
EvoCash is also advancing the integration of a Visa card linked to stablecoins, currently in the approval process with its issuing partners. Once enabled, it will allow users to spend dollar balances backed by crypto assets at merchants worldwide.
