• Openpayd has created a fully compliant banking and payments platform

  • OpenPayd has developed a fully compliant banking and payments platform… They’re bringing that “embedded finance” solution right to the heart of Crypto Valley.

    Location is important. And it made perfect sense for the London-based embedded finance solution, OpenPayd, to establish strong ties in the heart of Crypto Valley Switzerland.

    Because if you want to solve some of the most difficult problems in the digital asset and crypto ecosystem, you need to be close to your community.

    OpenPayd recently announced their official membership in the Crypto Valley Association, reaffirming their commitment to assisting crypto-native businesses that face banking and payment challenges.

    The mission of the Crypto Valley Association is to “encourage growth, collaboration, and integrity across the global blockchain economy.” Some of the most influential companies, including Cardano, Seba Bank, Kraken, pwc, and Ledger, are among the CVA’s more than 9000 active members.

    “This year, our top priorities were to strengthen our relationships in Switzerland, join the CVA to further contribute to our industry, and become an active member of the Crypto Valley community.” We wanted to take the lead in developing the future of finance in crypto…and there is no better place than Switzerland.” —Digby Try, OpenPayd’s Head of Global Sales

    And what exactly is OpenPayd bringing to the table that is exciting for Swiss crypto companies? What about around the world? Finance that is embedded.

    While crypto-native companies race to disrupt traditional financial markets, no one is really focused on solving one of the most significant challenges to crypto’s widespread adoption…how to easily get your fiat in and out of crypto markets.

    It is a “bridge” that is truly required to take cryptocurrency to the next level of global adoption. The process of transitioning from traditional financial systems to crypto and then off-ramping back when you want to withdraw your money in fiat.

    As a solution, this is the future of embedded finance. Consider a full-service banking and payments platform that can be easily embedded in any decentralized financial product, crypto exchange, mobile app, NFT marketplace, or cutting-edge trading platform to provide everything a compliant banking service does… All of this is possible thanks to a single API.

    Anyone developing disruptive blockchain and crypto products can simply plug and play a fully compliant banking and payments platform. This, rather than attempting to cobble together multiple products…or, worse, attempting to build it all themselves.

    Successful businesses typically focus on developing an innovative product by doing one thing exceptionally well. Even the most talented tech teams struggle to focus on building their core product due to the complexity of managing payments, KYC, AML, currency conversion, physical cards, and compliance.

    Especially if it isn’t what you “do.” It isn’t your primary value proposition. Rather, if people are going to use your product, it is a requirement of doing business. Payments into and out of crypto markets must be completely sorted.

    This is the future of “embedded finance” —off-the-shelf banking and payment solutions for businesses that need to onboard users into crypto markets with minimal friction.

    Companies involved in crypto markets require their payment solutions to be rock solid in terms of trust, regulatory compliance, and user ease of use. Because any obstacles or friction in getting money into and out of their product has a direct impact on user acquisition and retention.

    Whether it’s a crypto play-to-earn game, an NFT marketplace, a massive crypto exchange, or the most recent trading platform…they all need to consider how the average user will get their fiat into the ecosystem.

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