Crypto as a Service (CaaS): Key Benefits, Providers, and Use Cases
Dive into CaaS with our guide. Discover insights, benefits, and challenges for informed crypto decisions.
Nov 25 –
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2021 was an amazing year for the crypto industry and AlphaPoint’s global customer base!
Growth and Development:
Client Activity: AlphaPoint’s marketplace customers, who serve over 40M customers worldwide, increased active trading accounts 973% from ~750k active accounts in 2020 to 7.3M active trading accounts across client exchange, brokerage, and wallet platforms worldwide in 2021.
On-platform activity increased 2500% from their daily average of 10k in 2020 to an average of 250k daily traders globally.
Trading activity also rapidly grew from $2B in all of 2020 to $2B in monthly trading volume across client exchanges. AlphaPoint clients’ skyrocketing account activity and trade volume occurred in a year where total crypto market capitalization nearly tripled, at one point nearly topping $3T.
Company Expansion: Unprecedented industry growth in 2021 created thrilling new opportunities to apply our software solutions, and to meet the moment we doubled our employee headcount with a focus on technology, human resources and product development, adding several key senior hires in product management, talent management, engineering and technical operations. AlphaPoint is excited to move forward our onboarding initiatives for the new year as well as continue finding key candidates to fit dozens of currently open positions. The company has grown across continents/regions over the past year and will keep scaling our global workforce internationally into 2022.
New Features & Capabilities:
AlphaPoint Global: Adding to our suite of liquidity solutions, we launched AlphaPoint Global to provide institutional-grade liquidity for AlphaPoint powered trading platforms 24/7/365, with no fees. AlphaPoint Global broadcasts a blended order book of multiple liquidity sources, offering credit terms and a deep order book within a single connection. Additionally, AlphaPoint Global offers the ability for client’s end users to earn interest on their deposits by automatically lending funds indirectly into the liquidity pool, with competitive interest rates offered by lenders.
Mobile Wallet & Merchant Processing Capabilities: We developed new software capabilities including a native mobile application, mobile point-of-sale processing, merchant website portal, call-center support software, and administrative console. This technology was built on the APEX core and is most notably now used to power El Salvador’s government sponsored Chivo wallet, serving over 4M El Salvadorian citizens and businesses, enabling access to financial services to many for the first time.
New Integrations: AlphaPoint expanded the availability of third party integration options in our client marketplace significantly, with the addition of 10+ new partners including:
- Custody provider Fireblocks
- Compliance provider CipherTrace
- KYC provider NetKi
- KYT provider Elliptic among others
We extended our liquidity partner ecosystem, a service which fills order books at launch in order to ensure guaranteed liquidity for new client exchanges, to include:
- FTX
- Bithumb
- Crypto.com
In an ongoing effort to provide access to the most popular digital assets for trade, we now offer Bitcoin Lightning integration and native support for Binance Smart Chain, enabling our global portfolio of client exchanges to offer the depositing, withdrawal, custody, and trading of BSC and BEP-20 tokens to end users.
SOC Certification: We also received our SOC certification. Technically known as a “Report on Management’s Description of a Service Organization’s System and the Suitability of the Design of Controls,” the SOC is an accounting/auditing report that performs critical risk assessment to determine whether a company can achieve specific control objectives.
AlphaPoint will continue to focus on our mission to enable access to digital assets globally in 2022 and beyond. We will maintain our focus on customer success and staying true to our company values of Integrity, Innovation, Empowerment and Execution Excellence. We look forward to another successful year for AlphaPoint, our customers and the industry at large!
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