UR

What UR does

UR is a Banking-as-a-Service (BaaS) infrastructure provider that bridges regulated Swiss banking with on-chain settlement. Incorporated as SR Saphirstein AG in Zurich, Switzerland, UR holds a FINMA-supervised Fintech license under Article 1b of the Swiss Banking Act and operates its core ledger on Mantle Network. The platform combines licensed fiat banking (Swiss IBANs, SEPA, SWIFT, Mastercard) with tokenized deposits in seven currencies (EUR, USD, CHF, CNH, SGD, JPY, HKD) that settle atomically on-chain, plus crypto on/off-ramps for USDC, USDT, USDe, and ETH. URID, a non-transferable ERC-721 NFT identity bound to verified users, anchors compliance and permissions on-chain.

UR sells exclusively through a B2B2C distribution model: partners integrate via one of three modes (Managed Custody, External Wallet Access, or Delegated) using REST APIs and smart contracts, then distribute UR-powered IBAN accounts, multi-currency balances, and co-branded Mastercard debit cards to their own user bases. Named enterprise customers include cryptocurrency exchange Zoomex and Web3 payment platform M², both launching co-branded cards in early 2026. UR monetizes through BaaS API fees, card transaction fees, FX conversion spreads, crypto off-ramp fees, and SEPA/SWIFT payout fees. The MCP-based developer tooling (Claude Code, Cursor, VS Code, Windsurf integrations) targets reduced integration friction for future BaaS partners.

The company was founded in 2025, operates with 51–100 employees, and reports no disclosed revenue or funding rounds in the available data. Its strategic positioning rests on the FINMA regulatory license combined with full on-chain settlement — a combination few competitors can replicate without parallel licensing.

Name

UR

Legal name

SR Saphirstein AG

Website

https://ur.app

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

51–100 employees

Short description

UR is a FINMA-licensed Swiss BaaS infrastructure provider that lets crypto exchanges, Web3 wallets, and fintech platforms embed regulated banking (Swiss IBANs, multi-currency tokenized deposits, Mastercard debit cards) into their products via APIs and on-chain settlement on Mantle Network.

Ownership category

akta.pro rank

Product category

Banking-as-a-Service Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Crypto Payment Gateways & Checkout APIs (FSADAIAA)

akta.pro secondary industries

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• Banking-as-a-service infrastructure
• Embedded banking platform
• Stablecoin fiat rails
• On-chain banking ledger
• Programmable compliance

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Banking-as-a-Service API Fees: UR charges partners (cryptocurrency exchanges, neobanks, financial platforms) for access to its banking infrastructure API. Partners integrate via Managed Custody Mode or External Wallet Access Mode and pay for API access and transaction processing. The revenue model is structured around B2B licensing of regulated banking infrastructure.
2. Card Transaction Fees: Revenue is generated from card transaction processing when users spend via the co-branded Mastercard debit card. Card spending is booked against tokenized fiat balances with settlement happening on-chain through the Mastercard network.
3. FX Conversion Spread: UR earns revenue on the spread between exchange rates when users convert between the seven supported fiat currencies (EUR, USD, CHF, CNH, SGD, JPY, HKD) using atomic burn-and-mint FX operations on Mantle Network.
4. Crypto Off-ramp Fees: Fees are charged when users convert USDC, USDT, USDe, or ETH to fiat within their UR account. The off-ramp supports EVM chains and Solana, with settlement credited as tokenized deposits.
5. Fiat Payout (Bank Transfer) Fees: Fees are charged for fiat payout via SEPA/SWIFT bank transfers from UR accounts to external bank accounts. The platform supports payout fee metadata retrieval and minimum payout amounts per currency.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

UR is a Banking-as-a-Service infrastructure provider that issues Swiss IBAN accounts, co-branded Mastercard debit cards, and multi-currency tokenized deposits (EUR, USD, CHF, CNH, SGD, JPY, HKD backed 1:1 by fiat) to partner platforms and their end users. All account operations — deposits, withdrawals, FX, card spending — settle on-chain via smart contracts on Mantle Network, with KYC/AML compliance handled through progressive identity verification. Partners integrate via REST APIs in three modes (Managed Custody, External Wallet Access, Delegated) to embed regulated banking features in days rather than years.

Product overview

UR is a financial infrastructure platform for the open economy that unifies stablecoin and fiat rails, enabling any platform to build global financial services. The core product is the UR Platform — the account layer that wallets, developers, and financial platforms build on — which provides Swiss IBAN accounts, multi-currency tokenized deposit balances (EUR, USD, CHF, CNH, SGD, JPY, HKD), co-branded Mastercard debit cards, SEPA and SWIFT global money movement, crypto on/off-ramp via USDC/USDT/ETH, atomic FX conversion between currencies, and compliance controls (KYC/AML). The platform sits between partner products and global banking rails, managing identity, user accounts, and regulated financial services behind a REST API. The Co-branded Mastercard Debit Card is the primary consumer-facing product, enabling card spend drawing from UR fiat balances with on-chain settlement. Integration is via three modes: Managed Custody Mode (API-first, recommended), External Wallet Access Mode (Web3/self-custody), and Delegated Mode (legacy). UR is developed by SR Saphirstein AG, incorporated in Switzerland and supervised by FINMA.

Differentiator

Problem solved

Functional benefit

Products and services

• UR Platform (Banking-as-a-Service API) Foundational Banking-as-a-Service infrastructure that lets wallets, developers, and financial platforms offer personal Swiss IBANs, co-branded Mastercard debit cards, SEPA Instant, SWIFT transfers, crypto on/off-ramp, atomic FX conversion, and P2P transfers to their end users via a single REST API integration.
• Co-branded Mastercard Debit Card Mastercard debit card connected to the user's UR multi-currency fiat account, with spending authorized against tokenized deposits and settled atomically on-chain at point of sale. Supports both Fiat Only and Crypto Backed (Buffer Pool prefund) modes; available to Live-status users across supported regions.
• Developer Documentation and MCP Server (docs.ur.app) Public documentation portal built with GitBook that includes the full API reference, integration guides, smart contract references, design guidelines, and an MCP server enabling AI coding agents to search and retrieve documentation directly. Sandbox at urapi2-qa.ur-inc.xyz and production at openapi.ur.app.
• Zoomex Card World's first multi-currency virtual Mastercard launched in partnership with cryptocurrency exchange Zoomex (Seychelles). Supports USD, EUR, CHF, SGD, HKD, and JPY settlements with zero issuance, zero annual, and zero withdrawal fees; 1% cashback promotional offer through April 2026, plus $10 welcome reward on first qualifying purchase.
• M² Card Crypto-native payment card developed in partnership with M² that bridges on-chain ownership with real-world card usability, maintaining user self-custody and direct transaction approval. Global rollout underway across Europe, Asia, and Oceania.

Quantifiable outcome

• Card spend settled atomically on-chain in milliseconds at point of sale
• +4 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature10 records

Partnerships

Seven partnerships are on record, tiered core and supporting.

• ZoomexcoreStrategic or Co-development Partner · 6 March 2026Zoomex, a Seychelles-based cryptocurrency exchange platform, partnered with UR to launch the Zoomex Card, the world's first multi-currency virtual Mastercard. The card supports USD, EUR, CHF, SGD, HKD, and JPY settlements with a focus on a 'transparent ecosystem' — offering zero issuance, annual, and withdrawal fees with publicly disclosed cost details. The partnership enables Zoomex users to convert USDC into multi-currency fiat accounts for daily spending and cross-border transactions.
• M²coreStrategic or Co-development Partner · 3 March 2026M² partnered with UR to launch a crypto-native payment card designed to connect digital identity, on-chain assets, and real-world spending for Web3 ecosystems. The card maintains user self-custody, direct transaction approval, and transparency. UR provides the regulated banking infrastructure (FINMA-supervised) enabling the card's programmable payment layer that bridges on-chain ownership with real-world usability. The global rollout is underway across Europe, Asia, and Oceania.
• MastercardcoreTechnology or IntegrationUR issues co-branded Mastercard debit cards in partnership with the Mastercard network. Card spending is authorized against tokenized fiat balances, settled atomically on-chain through Mastercard rails at point of sale. Mastercard provides global acceptance network for UR's multi-currency card program.
• Mantle NetworkcoreTechnology or IntegrationUR's core banking and settlement infrastructure is built on Mantle Network (Chain ID: 5000). All UR account operations — tokenized deposits, FX, card authorization, transfers — are executed as on-chain transactions on Mantle. Mantle provides the programmable, auditable ledger layer that replaces traditional banking databases.
• Fiat24coreTechnology or IntegrationFiat24 is UR's FINMA-supervised Swiss banking entity that holds the fiat reserves backing UR's tokenized deposits 1:1. Fiat24 is responsible for compliance review during KYC, IBAN issuance, and the regulatory oversight of UR's banking operations under Swiss financial law.
• SumsubcoreTechnology or IntegrationSumsub provides KYC/AML verification services for UR's identity verification process. Used for questionnaire, domicile checks, document upload, and AML/sanctions screening. In External Wallet Access Mode, Sumsub's mobile SDK drives KYC flows. UR also supports Sumsub share-token reuse for partners already verified on Sumsub.
• ReadIDsupportingTechnology or IntegrationReadID performs NFC passport/national ID chip scanning, document scanning, and selfie/liveness capture for UR's KYC flow in the UR-hosted webview integration path. On iOS, ReadID runs via App Clip; on Android, it requires a separate app installation.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• MoonPay: MoonPay provides fiat-to-crypto on-ramp and off-ramp infrastructure for wallets, exchanges, and neobanks via API — targeting a very similar partner base and end-user use case as UR.
• Wirex: Wirex issues crypto-backed debit cards with multi-currency wallets and fiat rails, serving a similar crypto-to-fiat spending use case as UR's co-branded Mastercard offering.
• Zero Hash: Zero Hash provides embedded crypto and stablecoin infrastructure (on/off-ramp, custody, compliance) to fintechs and brokerages via API — overlapping target customers and integration model with UR's BaaS.
• Ramp Network (Unlimit Crypto): Ramp provides crypto on/off-ramp and white-label payment infrastructure embedded in wallets and apps — directly comparable to UR's External Wallet Access Mode and Managed Custody Mode.
• BVNK: BVNK is a B2B payments infrastructure provider offering IBAN and multi-currency accounts to crypto exchanges and fintechs via API — directly comparable to UR's crypto-exchange-facing Swiss IBAN + card + FX stack.
• Alchemy Pay: Alchemy Pay operates a crypto-fiat payment gateway with card issuing and on/off-ramp rails — closely aligned with UR's exchange and Web3 partner GTM and infrastructure model.

Broad incumbents

• BitPay: BitPay is an established crypto payment processor offering merchant card acceptance, payouts, and wallets — a broader incumbent in the crypto-to-fiat transactions space UR is targeting.
• Circle: Circle (USDC, Arc blockchain, regulated money transmission) competes at the stablecoin and fiat infrastructure layer that UR's tokenized-deposit stack sits on top of.
• Stripe (Bridge): Stripe's acquisition of Bridge brings stablecoin payment rails into a much broader payments platform, putting Stripe in direct competition with UR for crypto-fiat infrastructure, but at vastly greater scale and reach.

Emerging players

• Safe (prev. Gnosis Pay ecosystem): Safe's ecosystem and the Gnosis Pay card operate in the self-custody wallet-to-debit-card niche that UR's External Wallet Access Mode targets, with partially overlapping end users.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/UR_Global
• GitHubgithub.com/ur-app/ur-contracts
• LinkedInlinkedin.com/company/ur-app

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about UR