The adoption of cryptocurrency into the traditional financial ecosystem has been met with both caution and enthusiasm. Banks are increasingly adopting blockchain technology, facilitating their involvement with cryptocurrencies, and crypto is becoming more widely accepted globally: Revoult recently announced that it’s received a preliminary banking license from the UK’s Prudential Regulation Authority, and Chinese lawmakers have called for easier banking access for crypto firms.
The growing demand for cryptocurrencies has also led institutions like JP Morgan to offer crypto custodial services, paving the way for crypto banking solutions. These solutions bridge the gap between the world of digital assets and traditional banking, making crypto more convenient and accessible.
As crypto acceptance grows, the number of crypto banking solutions continues to increase. But if you’re looking to break into this industry, how do you choose the right software solution with so many choices available?
Read on to learn what features to look for — and get a list of the top crypto banking software solutions for your venture.
Your clients want flexibility and convenience when trading, so you need to choose the right crypto banking software for your platform. Here are some must-have features to look out for to ensure you pick the right one.
Brokerage software enhances the connection between banks and cryptocurrency by allowing traders to quickly convert crypto assets into fiat currencies. The fast access to liquidity can facilitate more transactions.
Brokerage software also allows users to manage their digital assets alongside traditional banking services, streamlining traders’ experiences.
Key functionalities to look out for in a provider‘s brokerage software include:
Wallet integrations enable users to store and manage their digital currencies seamlessly. With integrated wallets, traders can conveniently access their assets from the banking system and receive and send cryptocurrencies, promoting efficient transactions.
Merchant integrations are also important as they enable merchants to accept cryptocurrency payments. This can make it easier for users to spend their digital assets.
And make sure you assess whether their integrations support multiple cryptocurrencies, offer real-time transaction updates, and are secure. This way, users can transact with different digital assets, keep track of transactions, and safeguard their funds hassle-free.
A user-friendly interface is non-negotiable in a crypto banking platform, as it ensures a seamless user experience. Customers of all technical skill levels can make transactions easily without the need for lengthy training and tutorials.
You can determine a system’s user-friendliness by asking for a demo. Key elements to look for include:
Security and scalability are vital for both users and institutions, as they prevent unauthorized access and allow high-volume trading.
To protect your assets, ensure the software you choose implements security measures like two-factor authentication, wallet encryption, cold storage, and regular security audits.
To confirm scalability, you can assess a platform’s trade volume and performance during periods of high demand. Alternatively, you can evaluate its infrastructure. A scalable system will have cloud integrations and load-balancing mechanisms in place to ensure efficient performance during high demand.
Robust technical support promotes quick issue resolution and allows for continuous transactions. This is beneficial for both banking institutions and crypto users.
Some non-negotiables to look for before settling on any crypto banking technology provider include:
We’ve pre-vetted these crypto banking solutions to ensure they meet the standards listed above and offer all the support, tools, and features you need to launch and run your platform.
AlphaPoint is a white-label software provider that caters to the digital asset industry. Our company has been helping institutions and startups launch crypto platforms since 2013, which has resulted in billions in trade volume.
Our white-label solutions are not only easy to use but also provide the full suite of features and solutions that you need to make crypto banking convenient for your clients.
With AlphaPoint, you get a complete brokerage solution that provides access to various digital asset classes, as well as a full-service wallet and merchant ecosystem to facilitate swift digital currency transactions.
Our solution also includes an asset digitization tool that helps users create and manage digital tokens backed by previously illiquid assets, such as real estate and company equity. In short, it’s a full-stack software solution that will help you break into the crypto banking industry quickly, efficiently, and cost-effectively.
BitDeal is a blockchain and cryptocurrency exchange development company established in 2015 to help businesses enter the crypto landscape. The company offers various solutions to help streamline user experiences and financial activities, making it a viable crypto-banking solution.
These include decentralized finance (DeFi) platforms to help operators provide financial services without intermediaries, blockchain technology to automate transaction execution, and AI tools to streamline customer service.
Avaloq Core is a modular suite of banking software designed to meet the needs of financial institutions interested in digital assets. It’s a unique option because it offers a full range of banking and financial services, including transaction processing, account management, payment processing, and loan management.
Antier Solutions is a software provider that offers a variety of crypto banking solutions, including centralized and decentralized exchanges and multi-currency wallets. It offers fully functional banking platforms and extensive support for cryptocurrency transactions.
RevInfoTech is an IT solutions provider that offers both blockchain development and crypto banking solutions. Their full suite of key financial features, including bank accounts and debit cards, lets operators launch their comprehensive banking solutions quickly and efficiently.
The growing adoption of digital banking, blockchain technology, and cryptocurrencies has resulted in an increased demand for crypto banking solutions. If you’re looking to get into this niche, it’s important to find a provider who offers a comprehensive solution with all the tools and features you and your clients will need.
That’s why AlphaPoint made the top spot on our crypto-banking solutions list — it provides everything you need in one platform. You get access to brokerage software, liquidity solutions, and an extensive wallet/merchant ecosystem to enhance every facet of the crypto banking experience.
Schedule an AlphaPoint demo today to streamline your entry into crypto banking.
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