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Crypto mainstream adoption, as hoped by the enthusiasts, can only be achieved once all the components of accessibility are granted to the general user. This includes your traditional onramp and offramps, crypto card payments, and crypto digital wallet. But these come with a set of challenges – mainly getting crypto newbies to start trading by offering them a complete package of IBANs, trading and KYC services.
Now while these are a packaged deal, it’s not quite as simple to launch and offer an all-in-one crypto service. Especially with the MiCA regulations inching closer, the crypto companies have two options – either get licensed or team up with a crypto banking as a service provider.
The first option is not only time consuming but it requires a substantial capital and resources that most small scale companies are unable to invest.
Crypto banking on the other hand takes care of the expensive overheads – especially compliance and tech – to provide quality services at a much more cost effective and sustainable price, allowing companies to scale their product offerings.
Build your own crypto digital wallet and increase user retention
Similar to a traditional bank, digital wallet for crypto allows users to store, spend, and receive cryptocurrencies safely while offering privacy. It’s a necessary tool toward making crypto more accessible and adoptable.
However, jumping through the regulatory hoops and launching a crypto wallet service isn’t for everyone. In such cases, crypto banking partners can help companies scale and reach their potential targets.
The biggest advantage a crypto digital wallet has is the option to store and manage multiple cryptocurrencies along with fiat. Doing so allows the users to make all their transactions from the same application, thus ensuring high retention for the companies.
With crypto wallet functionalities, users can have access to staking which allows them to earn annual interest through rewards programs.
On average, crypto transactions can take up to a couple of minutes. Switching to lightning enabled cards will complete transactions in seconds. Connecting crypto cards with the wallets is a great way to ensure secure and instant payments so users can make daily purchases the way they would with their regular bank cards.
Make crypto easily accessible to your end users
Striga’s APIs allow you to build, launch, and offer your end user a custodial crypto wallet containing multiple accounts for cryptocurrencies that can be linked to payment cards.
Once a user successfully passes KYC, they receive their wallet which consists of accounts with the option to choose from multiple currencies. Each of these accounts can then be enriched with IBANs or crypto deposit addresses.
With Striga’s crypto banking model, you can onboard users, create dedicated crypto addresses, issue vIBANs, and let them trade against fiat currencies with their custodial crypto wallet. Additionally, you can also issue crypto Visa cards for your users that can be linked to any account in any currency, allowing them to spend crypto directly at any PoS.
Simplify your crypto journey with Striga
Being in the payments industry, we know navigating compliance can be a nightmare. With Striga’s crypto banking infrastructure, businesses have the freedom to focus on building and scaling their product with a simple drag-and-drop feature without having to worry about compliance.
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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