United Kingdom (or the “Company”), a provider of banking services to over 200 fintech and crypto companies, announced that Unique.Eartha start-up backed by EQT, has chosen LHV UK as its banking partner to access real-time EUR payments and other banking services.
LHV UK handles eight percent of all instant Single Euro Payments Area (“SEPA”) transactions in Europe. The program processes payments in seconds, any time or day throughout the year. In addition to SEPA and SEPA Instant payments, LHV UK processes various card schemes for Single.Earth and provides the startup with backup accounts, which separate customer funds from the company’s operational funds, and operational accounts, which are designed to hold business operating funds. .
Single.Earth is a financial technology company focused on improving the shortcomings of the current carbon credit industry. The company highlights how current net zero policies still have a detrimental impact on biodiversity. To help save nature and rapidly slow global deforestation, Single.Earth’s solution is to make carbon removal and biodiversity tradable. It aims to make preserving forests as profitable as cutting them down – landowners receive a tradable, nature-backed MERIT token for every 100kg of CO2 captured by their forests, wetlands or other natural resources.
Single.Earth begins selling its MERIT tokens on September 1 for those on the waitlist, and the general public will have access to the blockchain-based currency at the end of the month. LHV UK will facilitate the sale of MERIT tokens by providing access to its payment infrastructure and services.
LHV UK aims to become a one-stop-shop for all the banking needs of its fintech clients. In addition to EUR account services and payments, the Company offers real-time GBP payments, bank branches, virtual IBANs, multi-currency and FX accounts, among others.
Merit Valdsalu, CEO and co-founder of Single.Earth, said: “As a fast-moving startup, we are pleased to partner with an innovation-focused bank like LHV UK. We are excited to continue exploring new ways to work together to protect the natural world around us.
Andres Kitter, Deputy Managing Director of LHV UK, said: “Single.Earth is a pioneering fintech company aiming to make nature conservation profitable for small landowners. We are delighted to work with them and provide comprehensive support for their banking services so they can focus on their fight against climate change and biodiversity loss.