Crypto as a Service: Engine to unlock financial solutions for cryptocurrencies?
5 minutos de leitura
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 to players who want to enter this rising industry and enable solutions for storing, purchasing and selling digital coins. Learn more in this article on the main details around 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.
Also, through Crypto as a Service, users will have facilitated access to cryptocurrencies and will be able to leverage different solutions related to the topic—from making investments and keeping digital accounts to using them in exchange of services or products—all in a secure manner, which is extremely important once we’ve also seen an increase in fraud attempts in the industry as cryptoassets gain popularity.
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.
This model offers a lot of financial benefits for players who want to provide solutions for cryptocurrencies: It eliminates the need for the company to internally develop complex technologies as well as understand and comply with regulations. Also, solutions usually have embedded Fraud Prevention and security systems.
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 observe that it is only possible thanks to the API Economy, which is considered the engine for digital transformation and profitability in the New Economy. The ‘API economy’ allows companies to build different features as quickly as an integration does and enables different systems to talk in a continuous, agile manner.
In the financial industry, this format is increasingly more ubiquitous and has been consolidated in the past few years, thus becoming essential for developing the ecosystem. A lot of prominent players that have gained momentum so far are Banking as a Service, Fintech as a Service or Acquiring as a Service platform users.
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.
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!
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.