The Good Tech Companies - Over 200 Businesses Join Paybis’ Crypto Business Wallet in Q4

Episode Date: December 30, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/over-200-businesses-join-paybis-crypto-business-wallet-in-q4. Paybis OTC Desk & Business Wallets lets you buy, sell, store, swap, and manage crypto for your business. It is available in 141 US states and 38+ countries. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #bitcoin-payment-integration, #crypto-payment-integration, #paybis-otc-desk-and-business, #paybis-otc-desk, #paybis-business-wallets, #crypto-business-integration, #good-company, and more. This story was written by: @paybiscom. Learn more about this writer by checking @paybiscom's about page, and for more stories, please visit hackernoon.com. Paybis has launched a new product — Paybis OTC Desk & Business Wallets. The platform lets you buy, sell, store, swap, and manage crypto for your business. It is available in 141 US states and 38+ countries.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Over 200 businesses joined Pabos crypto business wallet in Q4. By Pabos, 2024 has been a favorable year for crypto. The introduction of MICA in the EU, along with increasing regulatory transparency in other key jurisdictions, is gradually eliminating compliance risks, giving businesses the confidence to integrate crypto payments into their operations. Stripe, PayPal, and other providers began to offer middleman services for digital assets, and the US e-commerce crypto acceptance rate has almost hit 40% with a CAGR of 9.1%. Recognizing the opportunity to deliver significant operational

efficiencies for its customers, Paybiz has launched a new product, Paybiz OTC Desk and Business Wallets. To help you integrate crypto into your workflows quickly and safely, we provide a secure and user-friendly platform that lets you buy, sell, store, swap, and manage crypto for your business. Over the last quarter, we onboarded more than 200 verified corporate clients on our platform, representing a 55% increase in volume since the launch of OTC desk and business wallets in August. This is a story of how to build a customer's first B2B product and save your clients time and thousands of dollars in fees and foreign exchange costs. Using crypto as an alternative to traditional business banking the pathways for crypto integration are manifold. For instance, digital assets may become a component

of the treasury's strategic reserves or investments. Most importantly, including crypto in the business payment framework allows for a decrease in transaction processing time, reduces cross-border transfer fees, and safeguards against arbitrary middleman intervention. NN bypassing the associated inefficiencies, such as bank payment rejection, currency conversion charges, and intermediary commissions, increases the affordability of frequent international transactions and makes the business's global footprint economically viable. Furthermore, adding crypto to your business toolkit allows you to expand outreach to new partners and customers. According to the World Bank, approximately 20% of the world's

population remains unbanked. Crypto bridges the gap to audiences in remote or underserved regions where conventional banking infrastructure is limited or non-existent. Having the bottlenecks in mind, what stops the crypto transition? It's clear that not adding cryptocurrencies into your business or company workflow now, when the regulatory risks have largely been mitigated, means missing out on operational efficiency and new business opportunities. However, the lack of service providers and technical know-how hinders the transition process. During the design stage, we identified several key challenges that our client faced. Firstly, businesses are wary of transaction security concerns. Despite the blockchain's

inherent security advantages, digital assets still face the risk of cyber attacks, hacking, and fraud. For customers unfamiliar with the industry, IT can be difficult to distinguish between a trusted provider and a risky one. Secondly, hard-to-use interfaces come at the extra cost of integrating and de-veloping enterprise cryptocurrency solutions. Complex UX, UI, slow onboarding and verification protocols, and long response time from compliance usually lead to frustration and low customer retention rates. Even after successful onboarding, client retention remains a problem. Lack of timely customer support and ineffective problem resolution procedures also reduce crypto integrations' implied efficiency and leave clients dissatisfied. Finally, many B2B

crypto solutions come with excessive transaction costs and hidden fees. Limited supported payment methods and fiat currencies also restrict clients' flexibility and impose additional FX costs, negatively impacting the bottom line. PABIS Business Wallets Solving the business's pain points Our key focus when building the OTC desk and business wallets was optimization in all aspects possible. We designed the product to be intuitive and straightforward, from the on and off ramping features to instant access to any operations without restrictions on your business funds. With our end-to-end managed in-house solution, we reduced the verification process to less than 24

hours, and a dedicated 24-7 account manager will make sure that any technical concerns have minimal impact on your business efficiency. Secondly, we prioritized the interests of global businesses, no matter the jurisdiction or the customer base. We made business wallets available in 141 plus countries and 38 US states. Recognizing the need for multi-currency cross-border payments, we introduced the native support of 25 plus fiat currencies, not just USDOR year. If the conversion is still necessary, the business wallet's customers will be able to enjoy zero FX fees. Crypto to fiat transactions are now easier than ever, with built-in support for SIPA, instant SIPA, faster payments, and swift wire. Finally, flexible tiered pricing introduced a

differentiated fee structure. Business wallets scale with the client's business needs. Expansion, continued we recognized the industry's regulatory tailwinds as a perfect environment for launching our new B2B product. A customer-centric approach to design and a careful review of the crypto transition challenges ensured a strong product market fit. Since August 2024, we have already welcomed more than 200 companies to our ecosystem. Catering to global demand, expanding the supported fiat currencies, and leveraging our long-term industry expertise, we expect the PABIS OTC desk and business wallets

to maintain their growth pace. Thank you for listening to this Hackernoon story, read by Artificial Intelligence. Visit hackernoon.com to read, write, learn and publish.