How Striga’s Cryptocurrency Debit Card Solves A Persistent Payment Issue
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One of the biggest and chronic issues crypto owners faced was the inability to use it as currency. Accessing your own assets meant moving money through multiple banks – making the process a lot more complicated.
While crypto enthusiasts wish for a more mainstream adoption, it’s tough to do so without a proper payments infrastructure in place to take care of the regulatory obligations and tech innovation.
But it’s not impossible.
Striga filled the gap between crypto and traditional banking by enabling crypto custody services, trading, banking, and card issuing – all under one platform with a single set of API doing the heavy lifting.
Complexities involved in card issuing
As much as cards are a necessity in the payments industry, issuing them remains a rather complicated, time consuming, and resource intensive process.
This means instead of focusing on scaling the business model, companies have to deal with multiple partnerships with providers, payment clearing partners, card manufacturers, and processors.
Not to mention, crypto companies will now need a MiCAR license to keep operating in the EU. This means an additional resource allocation toward obtaining said license and building a competent compliance and regulatory team.
In such cases, it makes sense to instead partner with a crypto banking platform. As a VASP that’s well positioned to navigate the upcoming MiCA regulation, Striga’s crypto custody services mean the end users’ assets will remain protected at all times.
Not only that, the partnerships and integrations with major card networks and issuing banks make issuing a debit card for crypto a much simpler process.
Launching cryptocurrency debit card with Striga
Making crypto adoptable and mainstream will need work and time. As the industry navigates various regulations, it’s equally important to innovate and make crypto more accessible and practical.
Bitrefill went on to add a debit card for crypto to their product line. Through partnerships with stores, streaming services, and telecom providers, Bitrefill makes spending crypto much more practical for users by simply topping up the card with EUR using BTC, ETH, USDC, USDT, BNB and more.
Wanting to add a cryptocurrency debit card feature, Bitrefill partnered with Striga for the tech and compliance expertise. Additionally, integrating with Striga meant that all funds were secured, thus eliminating the need to deal with compliance and KYC.
4 simple steps to issue a cryptocurrency debit card
First off, design your cards as per your brand guidelines or have our team help you through the process. Once ready, the cards will be sent for printing and dispatch.
Second, test and build your product on our publicly available sandbox till you are ready with the final version.
Third, monitor and manage your card program from the web-based application. Create a process to handle the operations such as chargebacks, negative balances, and fraud monitoring.
Lastly, go live with your approved branded cards program.
A debit card for crypto without any of the licensing issues
Striga is positioned as crypto infrastructure as code precisely because it makes testing, building, and shipping possible in as little as 3 weeks. The all-in-one crypto banking solution saves resource waste by cutting down time to market. The partnerships and integrations with issuing banks and card networks mean businesses can offer individualized crypto cards to their end users.
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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