The adoption of cryptocurrencies and other digital assets has skyrocketed in recent years. As of 2023, the estimated number of crypto ownership totals 4.2%, with over 420 million crypto users worldwide.
The growing customer demand for digital asset services presents banks with an exciting opportunity to meet changing needs. By integrating white label exchange solutions, banks can seamlessly provide customers with the cryptocurrency and digital asset capabilities they increasingly expect.
This allows banks to tap into new revenue streams while deepening customer relationships – turning potential disruption into an advantage. With a branded, familiar user experience, banks can exile these emerging services to improve satisfaction and prevent customers from looking elsewhere. Banks can take advantage of this opportunity to shape the future of banking by partnering with the right white label company.
White label exchange software lets banks and fintech firms easily start their own digital asset exchange. Customers can trade cryptocurrency and digital assets within their banking or fintech app, without needing to switch to another platform. According to research from Accenture, embedding these services directly into existing platforms can improve customer satisfaction by up to 30%.
Benefits of Offering a White Label Exchange
For banks and fintechs, introducing a white label exchange delivers numerous benefits:
Improved Customer Experience
With a white label exchange, the digital asset services carry the bank or fintech’s own branding, style, and user experience. This creates a seamless, omnichannel feel. According to Juniper Research, this unified experience is a top demand from banking customers today.
Faster Time to Market
Building an in-house digital asset exchange is expensive and time-intensive. White label software dramatically accelerates time to market from over a year to just 3-4 months. The quicker launch better positions companies to capitalize on current market conditions.
Reduced Costs
White label exchange software mitigates the need for internal blockchain and trading experts. The white label provider handles maintenance, security, liquidity provisioning and other technical aspects. These cost savings mean companies can reallocate resources to focus on core competencies.
Scalability
Leading white label providers such as Currency.com utilize cloud-based infrastructure to efficiently scale as customer demand grows. This prevents disruption even amidst surging user numbers and trading volumes.
Regulatory Compliance
Navigating the web of regulations around digital assets is complex. However, reputable white label providers continuously update their software to satisfy relevant compliance standards. This ensures companies can confidently launch and scale their offering without prohibitively high regulatory risk.
Key Features of White Label Exchanges
The core components of a white label digital asset exchange include:
Banks and fintechs can use these features to provide a trustworthy digital asset exchange experience with their own brand.
Offer Enhanced Experiences with a White Label Exchange
For banks and fintechs, introducing white label exchange software delivers a proven route to meet – and exceed – customers’ digital asset expectations. With a branded, tailored solution integrated into existing apps, companies can boost satisfaction while capturing new revenue opportunities. By partnering with a trusted white label company, you can quickly and safely launch and grow a competitive product. Contact our exchange experts today to explore how a white label solution can enhance your customer experience.
AlphaPoint's General Counsel, Reba Beeson, spoke at the Women in Digital Assets Forum – London 2023. Hosted by TABB Group and Lynne Marlor, the event explored the next area of digital assets, including discussions focused on regulations, payment technology, cloud platforms, central banks and more.
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