The Edinburgh-based crypto wallet and payments platform Zumo has brought to life its new B2B ‘crypto-as-a-service’ solution ‘Zumo Enterprise’; set to enable companies to offer crypto products and services to their customers.
The first of its kind in the UK, Zumo Enterprise is the market’s only
The full-stack embedded crypto solution allows fintechs and financial institutions to integrate crypto within their existing infrastructure; offering a low-barrier and compliant route to market while opening up new revenue streams.
The launch succeeds the launch of ‘ZumoKit’, a beta product released last year to test out the proposition.
The creation of Zumo Enterprise adheres to the growing demand for crypto products, which has been demonstrated by an 880 per cent increase in adoption last year.
Businesses realise The scale of this opportunity is being recognised by businesses with one in four respondents to Deloitte‘s recent survey agreeing their respective industry will benefit from new revenue streams being generated by the wider use of blockchain, digital assets and crypto solutions,
The survey also found that 73 per cent believe their organisation will lose its competitive advantage if it doesn’t adopt such solutions.
Importantly, by being compliant in the UK, Zumo Enterprise enables fintechs and financial institutions to harness crypto solutions securely, thus fulfilling their duty of care to customers.
In light of the corporate responsibility to the climate, Zumo Enterprise also incorporates an embedded environmental, social, and governance (ESG) and net-zero strategy.
“Consumer preferences are changing. Digitalisation is accelerating. Amidst an increasingly competitive and fast-evolving financial landscape, the demand for new, alternative solutions is booming,” said Nick Jones, co-founder and CEO of Zumo.
“Zumo’s embedded crypto technology plugs into fintechs’ and banks’ existing tech stacks, helping them to tap into this surging demand for digital assets.
“Zumo Enterprise offers a compliant, flexible solution that removes the need to deploy specialist teams or incur huge development costs. It will help forward-thinking financial institutions to meet the needs of both present and future customers.”
Available via either an application programming interface (API) or software development kit (SDK), Zumo Enterprise’s white-label solution gives businesses a blockchain-agnostic suite of tools through which to enable customers to hold, buy, sell and send digital currencies.
Zumo Enterprise’s customers can choose modules as required and benefit from direct access to Zumo’s team of experts.