Crypto as a Service: Engine to unlock financial solutions for cryptocurrencies?

Published on Jul 28 2022.

reading time 6 minutes reading

Considering that bitcoin has recently reached its highest value, and cryptocurrencies attracted a number of new investors in 2021, it is undeniable that the topic will still be the center of attention in the upcoming years. Beyond that, we have the Crypto as a Service model, which is quickly bringing financial solutions for digital coins to wallets for more and more people.

By following the existing trend in other segments of the payment and banking industry—Banking as a Service, Acquiring as a Service e Software as a Service, and more—, the Crypto as a Service model enables financial institutions, startups, retailers and other companies to provide services related to cryptoassets on their platforms, whether they’re digital accounts or other applications.

Therefore, Crypto as a Service brings a great opportunity for players who want to enter this growing market and provide customers with solutions for buying, selling and storing digital currencies. Want to know more? Check out this article for the main details on the topic!

 

What is Crypto as a Service?

Based on the Software as a Service concept, the Crypto as a Service model focuses on the cryptocurrency industry and offers the technology and infrastructure required so that different organizations become service providers in this ecosystem.

Thus, companies can enable digital assets on their own platforms and, consequently, expand their operations and profit possibilities in a promising business segment, with reduced expenses.

Additionally, through Crypto as a Service, Users will have easier access to cryptocurrencies and will be able to take advantage of different solutions in this regard: from making investments and keeping them in digital accounts to using them in exchange for services or products.

All of this in a secure way – which is extremely important, since, along with the popularization of crypto-assets, we have also seen an increase in fraud attempts in that market.

How does Crypto as a Service work?

In Crypto as a Service, users can embed resources by connecting to an API in order to buy, sell and store cryptocoins on their platforms and applications. It is also possible for companies to build new apps by using the same technology.

In general, resources provided by this model are customizable e easily deployed. So, they offer near-instantaneous access to cryptocurrency markets and can be tailored according to the contracting company’s needs, which can build the customer experience as it desires.

For players who want to offer cryptocurrency solutions, this model is very financially advantageous: in addition to exempting the company from having to go after regulations, it also eliminates the need for in-house development of complex technologies. In addition, the solutions also usually already have security systems and preventing fraud incorporated.

Advantages in Crypto as a Service

  • Accelerated development for financial solutions with cryptoassets
  • Potential engagement with audiences around rising and attractive services
  • Flexibility to plug cryptocurrency negotiations in existing platforms

 

The ‘as a service’ world and API economy

You’ve certainly noticed: Not only in the financial industry, solutions in different industries are increasingly adapting to the ‘as a service’ model. As mentioned, the concept involves providing solutions as a service, instead of a hard, limited product.

It is interesting to note that this is only possible thanks to the API Economy, considered the engine for digital transformation and profitability in the New Economy. The “API economy” allows the creation of several features at the speed of an integration and enables the dialogue between different systems in a fast and continuous way..

In the financial market, this format is increasingly present and has been consolidated in recent years, having become essential for the development of this ecosystem. Many players that are currently standing out are users of Banking as a Service, Fintech as a Service or Acquiring as a Service.

Crypto as a Service should follow that movement soon. Based on this innovative model and relying on several benefits, it brings the opportunity to enter an industry that is quickly expanding such as cryptocurrencies.

 

financial universe as a service

 

At Dock, we’re keeping up with all opportunities to decode the financial universe

We’re part of that transformation, which makes technology in payments and banking increasingly more accessible and ‘as a service’, so that new solutions are developed and able to make finances more organic and inclusive.

That’s why we have our eyes on the Crypto as a Service model and all its opportunities. As a matter of fact, our crypto department is already under construction, and we’ll have news for you soon!

https://youtu.be/IqmuIFpk0dc

 

Crypto as a Service: Takeaways from this article

  • In 2021, bitcoin saw its highest value, and cryptocurrencies attracted a number of new investors.
  • Crypto as a Service enables financial institutions, startups, retailers and other companies to provide services related to cryptoassets on their platforms.
  • With the solution, organizations rely on the technology and regulation required to enable their customers to easily and securely buy, sell and store cryptocurrencies.
  • As well as other ‘as a service’ platforms, Crypto as a Service works through an API connection and provides resources that are customizable and easily deployed.
  • Crypto as a Service is a great opportunity for players who want to enter the cryptocurrency industry in 2022.

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