How Striga is merging all the crypto and banking providers under one platform
How Striga is merging all the crypto and banking providers under one platform
Striga created an entire ecosystem so your company doesn’t have to deal with multiple partners to launch its product. With Striga, you can instantly create bank accounts, offer crypto wallets/exchanges, and issue crypto cards and vIBANs to your European customers
Striga created an entire ecosystem so your company doesn’t have to deal with multiple partners to launch its product. With Striga, you can instantly create bank accounts, offer crypto wallets/exchanges, and issue crypto cards and vIBANs to your European customers
You want to build a crypto neobank, enable banking in your own platform, or launch a card program. On the surface, it sounds simple enough, but you’re realizing there’s more to it than you thought.
As it turns out, you need to partner with over 7 companies just to launch your platform. That’s how it has always been, but it doesn’t have to stay that way. Striga has integrated them under a single platform for you to build on.
So, to give you an overview, building a crypto neobank (or a card program or banking solution) requires the following:
Crypto integrations
Exchange to grant you access to digital assets
Wallet to enable transactions and custody of said assets
Card integrations
BIN Sponsor to get a BIN range (card numbers approved by Visa/Mastercard)
Processor to process card transactions
Card Bureau to manufacture physical cards
Banking integration
vIBAN provider to give your clients fiat bank accounts and enable transactions in the single euro payments area (SEPA)
Risk management
Risk management An integration to a KYC & AML service provider to prevent fraud
Instead of spending the best part of a year finding and connecting to a demanding and daunting number of partners, you can partner solely with us. Striga handles all of it for you.
Crypto integrations:
Crypto integrations:
Crypto Exchange and Wallet
Crypto Exchange and Wallet
Crypto Exchange
An exchange gives you, as a company, a trading account so you can buy and sell digital assets. You can then break down this account into individual accounts for your users to do the same, essentially enabling exchange features within your own product.
Usually, you must connect to the API of specialized institutional exchange, which takes considerable development effort. Striga already did this, and it gives you access to the exchange features right away.
Crypto Wallet
Users need to store and transact their digital assets. That’s where wallets come in. They enable crypto payments and custody of assets.
To offer wallets to your users, you need to either build the infrastructure yourself and get special licenses to hold cryptocurrencies or partner with someone who does. Striga does just that.
Striga is currently pursuing a Virtual Asset Service Provider License in Estonia following the recently (March 2022) introduced amendments to the Estonian law.
BIN Sponsor
In brief, to issue cards, you need to get valid card numbers. Those (first four numbers) are known as a BIN range. Visa/Mastercard approve them, but BIN Sponsors are in charge of distributing access to them.
Usually, getting sponsored for a BIN range takes up to a year, and you need licenses of your own, as well as countless procedures. Striga helps you avoid that. Our partner already has access to a BIN range, and we can give it to you.
Card Processor
Transactions need to be processed. The processor acts as an intermediary between merchants and financial institutions and coordinates payment gateways, consumers, card networks, issuing banks, and acquiring banks. Simple card payment is more complex than most people think.
Usually, you need to partner with either an EMI or a card processor itself. With Striga, that’s not necessary. Our partner is already connected to a processor, so you don’t need to think about networks at all. Your users pay, and their transaction clears.
Card Bureau
Someone needs to manufacture the card plastics. That’s the card bureau.
As you probably guessed, that also requires months of coordination and approvals. Striga already handled that for you. Just discuss with us your design, we’ll help you get it up to Visa standards, and your cards will start getting manufactured.
Cards integrations:
Cards integrations:
Virtual and physical debit cards
Virtual and physical debit cards
Banking integrations:
Banking integrations:
vIBANs and SEPA
vIBANs and SEPA
vIBANs
Your users need to hold traditional (fiat) currencies too. For that, they need a bank account. In Europe, that’s a vIBAN (international bank account number), and it requires a special provider.
Striga is fully prepared to give you vIBANs for each and every of your individual users. This way, they can both hold their money in your platform, and make bank transfers easily, especially when it comes to the Single Euro Payments Area (SEPA).
KYC
“Know your customer”, or KYC, is the process of verifying the identity of new users to avoid onboarding risky users that may engage in illegal activities. This is the first barrier for a company.
AML
“Anti-money laundering”, or AML, is the collection of procedures that a company carries out to identify and stop suspicious transactions, as well as notifying authorities about them. This process is usually done in real time for every transaction and constitutes the second barrier for a company against illegal activity.
Usually, you need a service provider for both KYC and AML processes. Striga, again, has it figured out for you. Not only do we connect to these providers, but we handle all KYC and AML for you, so you don’t have to worry about it at all.
Risk management:
Risk management:
KYC and AML Monitoring
KYC and AML Monitoring
To recap, for launching your own crypto neobank or card program, you need two crypto providers, three card service providers, one bank account provider, and one KYC/AML service provider. Or, you can go with Striga.
Want to be a partner?
You don’t have to reinvent the wheel, just spin it
You don’t have to reinvent the wheel, just spin it
Book a call with us to discover how Striga can help you get to market faster without needing to manage the compliance-related matters
Book a call with us to discover how Striga can help you get to market faster without needing to manage the compliance-related matters
EN 
FR