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As cryptocurrencies become more mainstream, the journey to crypto adoption will be determined by effective crypto exchange solutions simplifying payment processing for end users. Additionally, regulations guaranteed by financial institutions to reduce fraud and crime further improve the overall safety and stability of the crypto market.
For this reason, crypto payment processing gateways help enable conversions by building a fully integrated fiat gateway so users can benefit from the crypto exchange solution with ease.
Whether buying and selling crypto or making direct payments with cards and wallets, crypto as a banking service allows for easy integration, enabling end users to incorporate crypto into their daily lives.
Building a Crypto Payment System In-House
A potential use case for crypto payment systems is the crypto fiat on-ramp facilities. Crypto businesses can promote secure crypto transactions by allowing end users to buy cryptocurrencies using their fiat money on a decentralized exchange platform without needing a digital wallet.
Similarly, enabling a fiat off-ramp allows users to convert their cryptocurrencies back so they can continue making purchases in the real world and better control their digital assets.
Another use case, and perhaps the best one so far, is to allow direct crypto payments at checkouts when making everyday purchases. Enabling consumers to spend cryptocurrencies like traditional currencies is a step closer to mass crypto adoption.
However, the first step towards building a crypto payment processing gateway is to ensure you have the necessary licensing from the region you plan to operate in. For instance, crypto companies planning to launch in the EU must familiarize themselves with the MiCA license. This means companies must be prepared to build robust KYC and AML procedures and frameworks to meet regulatory requirements.
And that’s just the regulations and compliance aspect.
Building a crypto payment system from scratch can be resource-intensive, especially in terms of technology. Companies need to invest in a development team to build secure and well-documented APIs to allow payment functionalities and webhooks for real-time notifications.
All-in-One Crypto Banking Infrastructure for All Business Needs
Building and launching a crypto payment system from the ground up comes with its own set of challenges.
Thankfully, with crypto and blockchain gaining momentum among end users, crypto banking infrastructures have made integration and deployment easier for businesses.
Striga’s fiat to crypto payment gateway makes it possible to build and launch in a matter of six weeks without worrying about KYC or licenses. Moreover, the publicly available sandbox allows companies to simulate the entire flow of funds, onboard users, and monitor transactions and fees before going live.
Integrate the fiat on-ramp API and allow your users to on-ramp crypto using EUR with SEPA payments within seconds. Striga’s infrastructure gives developers and businesses the freedom to focus on building their product with a simple drag-and-drop feature without having to worry about compliance.
Interested in deploying your crypto business in six weeks? Get in touch with us by submitting a request and briefly telling us about your company. Our experts will connect with you for a product and pricing overview to help decide on a plan that best suits your business needs.
Once you receive the tailor-made pricing based on your Flow of Funds and Settlement Infrastructure, you’re all set to explore the publicly available sandbox to build and test your flows safely for free until you’re ready to launch.
Striga Crypto-native Banking as a Service: Build and launch your crypto payment processing gateway under one single platform
Striga Crypto-native Banking as a Service:
Your path to building and launching financial products
Join the financial businesses that use Striga’s cloud platform to delight their customers and launch their own products without the complexities that come when dealing with core banking solutions’ relationships, licensing, compliance and payments methods.
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