Laferla First Insurance Provider to Accept Crypto Payments

Laferla First Insurance Provider to Accept Crypto Payments

Laferla is celebrating having reached over €50,000 worth of cryptocurrency payments received through its crypto payment gateway since going live less than a year ago. The gateway was soft launched in November 2019, having been created to accommodate individuals and companies paying with this increasingly-popular payment method.

The milestone is even more remarkable as Laferla reached this figure within just a few months with no marketing exposure surrounding the introduction of its crypto payment gateway.  “The results are very encouraging, and we are delighted to be part of the cryptocurrency revolution taking place around us,” states Keith Laferla, who oversaw the integration of this innovative payment option.  “We have always been at the forefront of digital technology, even back in the 1980s when Laferla was founded, by investing heavily in IT.  Looking into and investing into what seems to be a key part of the future of payment systems was a natural step for us to take. After such a successful soft launch, we now look forward to marketing this as one of our many USPs.”

The push from the Maltese Government to become the ‘Blockchain Island’ has brought many key players in the industry to the country, including blockchain-based platforms, service providers and world-leading exchanges. “It is important to integrate a payment solution to accommodate key players in the DLT industry, who may deal mainly in cryptocurrencies yet have a need for insurance services just like any other corporate enterprise. Laferla is here to support the industry and make it easy for these firms to settle their insurance premia using a digital currency which is a natural part of their business, without having to convert to FIAT currencies.”

Accepting over 45 different cryptocurrencies via its crypto payment gateway, Laferla is the first insurance provider in Malta to invest in receiving cryptocurrency payments for any transaction including new insurance policies, renewals and pending invoices, which can be done easily through the Laferla website  Such cryptocurrencies currently include most of the well-known tokens such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Binance Token (BNB), Tron (TRX), Stellar (XLM), EOS, OmiseGo (OMG), DigiByte (DGB), as well as many others.

“We expect cryptocurrency payments to become more popular as this payment method becomes more mainstream for both companies and individuals, and we are excited to see, as well as support, this channel to grow to its full potential.”

If you would like to discuss a corporate relationship that allows your company to settle your insurance payments in Malta using cryptocurrencies, feel free to reach out directly to Keith on [email protected].