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The world is transforming at a rapid pace in terms of banking. The conventional way of performing banking has taken a back seat. With the advent of technologies, banking was initially limited to the digital space commonly known as digital banking. Now, the banking space has just surpassed all the boundaries. Blockchain technology has revolutionized every sector, and banking is no exception. Blockchain and crypto are synonyms of each other. Both of them are responsible for providing secure banking services. Crypto banking solutions are the perfect way of providing complete contactless payments with higher security. To implement such solutions, crypto banking platform development is a must.
Crypto banking involves the transaction of currencies for convenient easy cross-border settlements. This is a new term that is adopted by the current financial world. Here the cryptocurrencies refer to the Ethereum and Bitcoin. These banks also provide interest to the crypto holders on savings accounts along with multiple financial services and products.
Crypto banks have a legal base in some countries and allow all the activities that traditional banking offers. The only difference is that the assets involved are in the form of cryptocurrencies. These assets are kept in the cryptocurrency wallet. It is clear that cryptocurrencies are here to stay, so many fintech banks have started to incorporate crypto services in conventional banking. The incorporation of crypto banking services with conventional banking is known as the crypto banking solutions.
The notable thing here is why there is a need for crypto banking. The answer is simple, to allow safe and secure transactions in the fintech world. Here, the entire banking system is decentralized, and moreover, the transactions are cheaper. Nobody can retrieve someone's funds until they get access to their private key. The drawback is that the funds will not be recovered once the key is lost.
Bring your ideas to reality with our advanced crypto banking solutions underpinned with robust frameworks and cutting-edge technologies
Before getting a detailed analysis of crypto banking solutions and platform development, let’s first see the difference between conventional and crypto banking.
Conventional Banking | Crypto Banking |
| Legal recognition in all countries | Legal recognition in few countries |
| Less secure | More secure |
| Role of intermediaries | No role of intermediaries |
| Centralized | Decentralized |
| Less stable | More stable |
| Presence of additional services like insurance | Absence of extra services |
| Data and money can be stolen | No such threat is possible |
| Slow transactions | Faster transactions |
With the ongoing demand in the crypto world, some financial institutions have openly come out and started offering crypto banking solutions to their customers across the globe.
The traditional form of banking was working well but due to the data leakage and the constant fraud that took place in the banking industry were a greater cause of concern. In addition to that, the transactions were not fast, leaving the customers in despair. There were also issues related to the cross-border payment settlements. There are many advantages associated with the crypto banking;
In centralized banking, the transactions take place under a governed central authority. So, there are several guidelines and protocols that the individuals need to follow. So, every time to perform any activity, permission needs to be taken, which results in deteriorated customer experience. So, crypto banking solutions are used that deliver fast transactions without any obstruction.
Conventional banking directly deals with the third parties where account and payment-related services are offered by the non-banking entities. This ends up providing access to the customer's bank account. In the case of crypto banking, there is no need for the third-parties; every banking-related transaction takes place between the two entities, eliminating the intermediaries. This is the best part of the crypto banking solutions, as these are responsible for the information leak.
Traditional banking lacks the feature of performing every banking activity without the presence of the customers. Though digital banking has taken a step forward but people need to visit the branches to get specific things done. To overcome this problem of waiting in long queues, crypto banks with their outstanding crypto banking solutions, have resolved this issue in the first place. This has resulted in the ultimate flexibility.
We are among the leading development firms that provide all-in-one crypto banking solutions with customized features and functionalities.
The crypto banking platform development is a strenuous process, but our team will make that simpler for you. There are a bunch of stages that form part of the development procedure.
The implementation of the crypto banking solutions is no joke. So, to create a robust crypto banking platform, the project requirements must be known. For that, proper planning is required as to how to initiate the process. Look for the major issues that the banking industry is facing. The main reason behind the crypto banking platform development is to see how the customer's requirements will be fulfilled. It includes defining the project goals with lucid objectives. After that, the stakeholders are chosen depending on the project.
When all things are set, there is a definite demand for a roadmap. The roadmap is nothing but a blueprint that includes the strategies to be implemented to achieve the goal ultimately. Our team will help you set the milestones for your convenience so that it's easy for you to develop the required platform. We frame a compelling roadmap where things will be prioritized while staying flexible.
The use of futuristic technologies, cutting-edge solutions, top programming languages, and advanced frameworks comes under the development stage. It is a time-consuming process as a lot of precision is taken while developing a crypto-banking platform. This stage involves the ultra-modern coding techniques required to solve the issues related to sorting and data storage. Our development team will help you in executing the codes in the appropriate manner.
The developed product is then subjected to testing. Many times we have seen that there are bugs and errors present in the system. These hinder the performance of the platform. Quality assurance is the most important element of the development process. The different types of testing involve integration testing, performance, security, unit, acceptance testing, and more. This is extremely pivotal, and things should be analyzed very carefully. Our software testers have a knack for performing testing before this leads to any heavy losses.
The crypto banking platform development, after going through the testing phase, is deployed on the dedicated server. Before deployment, if any customizations are needed, then those are performed. Following that, the platform is then launched in public for use. This is a crucial stage that can’t be neglected at any cost.
After the crypto banking platform is launched in the public domain, it can also suffer from some technical issues. Our technical support team will help you out in this grave situation. When the issues are solved after the testing process, then that is known as the post-maintenance. Our dedicated blockchain engineers know how to provide reliable post-maintenance services to the clients.
Our crypto banking platform keeps crypto holdings as collateral for credits and loans. To retrieve the cryptos back, the customers are required to make payments.
We provide fantastic multi-currency bank accounts and deliver crypto banking solutions. There is a smooth conversion of the cryptocurrencies to the fiat currencies.
Our crypto banking platform development offers maximum fraud protection by carefully implementing the KYC norms and anti-money laundering (AML) regulations.
The payment gateways are built with utmost security, and there is a provision for performing the transactions with the help of different payment methods.
The process involved in transferring the remittance is a safe method because of the public ledger. This also makes the transaction super easy and smooth.
We provide a robust crypto trading desk allowing the trading of the banking products in a much more secure environment.
Data is the game changer. Our crypto banking solutions are perfect for offering real-time data analysis. There is the provision for greater insights that helps in decision-making.
The cryptocurrency wallet platform development allows users to enjoy crypto banking solutions with a user-directed wallet where private keys are stored in the specified hardware device.
Our crypto banking platform is extremely user-friendly; the customer easily navigates every attribute.
Our crypto banking platform helps provide the core banking solutions with a completely intuitive admin panel that handles the fees, transactions, etc.
The security of digital assets is the basic requirement of the customers, and our developed platform fulfills this very well.
The fees while performing the transactions on the developed platform are inexpensive. This is the greatest advantage offered by our crypto banking platform.
The transactions taking place in our developed platform are very fast and do not create any delay, satisfying the customers.
The developed crypto-banking platform supports the smooth integration of the APIs. If there are other requirements, then they are also taken care of.
This is the biggest advantage associated with the crypto-banking platform. The customization is applied to everything from the interface dashboard, etc.
The proper use of the intuitive dashboard helps the admin to have a clear view of customer engagement and retention, which is very important in crypto banking.
Our crypto-banking platform does not take much time to launch the platform. We have ready-made solutions that aides in the quick platform launch.
We follow a proper development process that includes planning, requirement gathering, design development, quality assurance, deployment, and maintenance
Suffescom Solutions is a prominent crypto exchange development company that develops customer-friendly digital currency exchange platforms. We are the best in the industry for delivering crypto solutions to clients. Our vision is to promote innovation backed by blockchain technology. Our crypto banking platform development is a stupendous platform that will fulfill all your crypto banking requirements, fully loaded with amazing features and functionalities.
We have 250+ blockchain developers to help you develop a reliable white label digital banking platform. They adopt a superior technological approach which makes the product error-free.
Our blockchain development team follows a reliable development process. We will guide you through every stage, i.e., planning, creating the blueprint, designing, development, quality assurance, deployment, launch, and maintenance.
We take full responsibility on our shoulders by providing complete support even after the product delivery. You don’t need to worry about that; our experts will help you out in every circumstance.
We follow all the necessary standards and regulations on behalf of our clients, which will help in saving a lot of time.
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