1TN is a global IT product crypto processing project developing a unique solution for the cryptocurrency ecosystem. The crypto payment gateway allows users and merchants to easily accept cryptocurrency payments and has continued to add more users in recent months. The 1TN platform allows merchants to accept multi-currency transactions without giving up the usual benefits of traditional payment processors.
These developments caught the attention of many, so we caught up with CEO Denis Ustymenko to discuss his journey and 1TN’s key features.
Q: Can we get to know you and your experience in the fintech industry?
A: I am an IT entrepreneur with extensive experience in the fintech and IT industries. I have previously built products in the fintech space and in 2016, with my partners, I founded Pokermatch, an online poker room operating in major jurisdictions around the world.
As a CFO and partner, my world encompassed all parts of the commercial process, including marketing, business development, account management, partnership development and performance optimization. I also created financial and legal structures for proper operations in the company.
Pokermatch experienced impressive growth during this period and was sold to Parimatch Holding in 2021. After the acquisition, I decided to develop my own IT projects to help businesses grow and create a unique platform for merchants.
Q Why did you decide to move into the crypto industry?
A: I have been a merchant for the last 10 years, and I know exactly what problems businesses face when selling products online. Some of these include issues with payment conversion, consumer abandoned carts, transaction limits, and issues with bank payment systems. Also, companies face difficult challenges with KYC verification, which has forced many merchants to adopt a “pay first” strategy before verification, as seen in the gambling industry.
In addition, merchants face the integration challenge of incurring high costs for IT professionals to properly install payment products on their platforms. These are the reasons why I decided to develop a more convenient solution that will alleviate these problems and help businesses accept payments using a fast and reliable system.
Q: What is 1TN?
A: 1TN is an international IT product crypto processing project. We are currently developing a unique solution for the cryptocurrency ecosystem. Headquartered in Portugal, we are in the later stages of obtaining a license from the National Bank of Portugal and intend to expand our operations in the Iberian market (Portugal and Spain). Our perspective plans include the LATAM market.
1TN aims to be the most secure and reliable cryptocurrency platform thanks to its innovative security solutions. We have partnered with top IT giants like Fireblocks, Chainanalisys and Finerymarkets to ensure high level security and protection of users’ assets.
Q: What is 1TN’s value proposition?
A: 1TN offers services that can be used directly as an e-commerce or white label offering thanks to the integration options we provide. Some of our value proposition includes
- Low transaction fees
- Quick and easy setup for merchants
- User friendly control panel
Support for over 20 cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Tether.
In addition, we have integrated various ways that users can send and receive payments via the web, email, smartphones and wallet addresses. This ensures that our goal of increasing financial inclusion among merchants and e-commerce is central. As a result, the payment landscape of our customers in the crypto-world can be expanded, making cross-border transactions faster, safer and more convenient.
Q: What makes 1TN different from other available options?
A: The traditional payment system is limited for e-commerce platforms and merchants due to high transaction fees and fragmented payment channels. Cryptocurrencies provide an alternative for businesses to get full value for their services and grow their business beyond their home location. There are no conversion fees and traders can buy and sell digital assets on exchanges at the best possible rate.
They can also get live real-time data on digital assets/fiat prices and sell cryptocurrencies with zero fees while attracting users willing to spend. 1TN offers a solution that provides these features and more. Merchants can accept payment in fiat and buyers have the option to choose the appropriate cryptocurrency to pay. Once the payment is completed, 1TN automatically converts it to fiat and the merchant receives the exact amount in their local currency.
Q: What have been your biggest achievements with 1TN so far?
A: In times of turbulence, I would say start offices and build a team of experts with great experience in the crypto and fintech industry. We expanded in Europe by opening three locations in Portugal, Latvia and Bulgaria. In addition, we are constantly working on product improvement and innovative platform development. Our main goal is to help our customers use blockchain technology to provide fast, secure and low-cost payment processing services, enable third-party processors, improve remittance waiting times and facilitate cross-border payments.
This development shows that we are on the right track to enable the adoption of cryptocurrency payments globally.
Q: What future developments are planned for 1TN?
A: We have several products that we intend to launch in the coming months. First, we will launch a cryptocurrency payment gateway and scale it to help the business grow. Our team is also ready to help companies grow by providing simple ways to store, receive and transfer digital assets. We also have targets to expand into new markets, including Portugal, Germany, France, Spain, Denmark and Brazil.