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Zumo debuts crypto-as-a-service platform

Source: Zumo

Zumo, the crypto wallet and payment platform, has launched its B2B proposition, ZumoKit, its crypto-as-a-service platform.

ZumoKit is a B2B product built for Fintechs and Financial institutions that wish to offer cryptocurrencies in a compliant way to meet the demand of modern customers.

Fintech companies that use ZumoKit will be able to offer their customers a range of services including a crypto wallet and exchange.

Here are some of the capabilities of ZumoKit:

- ZumoKit is blockchain agnostic, allowing companies to connect to any blockchain, adopt any cryptocurrency or use their own stablecoin.
- It allows businesses to integrate a digital currency, allowing their customers to buy and sell digital currencies as an investment.
- ZumoKit enables companies’ users to send, receive and store digital currencies, bringing them all the benefits of low cost, high speed and borderless payments.

Eddie Robb, Commercial Director at Zumo, said: “ZumoKit helps Fintechs, and their customers, get comfortable with crypto.

“We give businesses the tools they need to build cryptocurrency solutions into their platforms, saving them thousands of hours of work. We’re working with a number of savings, remittance and share trading apps to allow them to offer crypto to their customers.

“ZumoKit is a ready-to-roll solution for fintech companies and other financial institutions that want to bring the benefits of crypto to their customers. It’s a plug and play product that makes it easy to get going with crypto in a safe, secure and compliant way.”

The Crypto Boom

The launch of ZumoKit comes during a huge surge of interest in cryptocurrency. A survey carried out by Focaldata on behalf of Zumo recently revealed that just over half (55%) of those who have ever bought cryptocurrency made their first purchase in the last six months.

The poll also found that cryptocurrencies are now viewed as viable investment opportunities by a large chunk of the population, with 36% of adults agreeing that cryptocurrency is a credible alternative to other financial assets.

Businesses that use ZumoKit’s crypto-as-a-service platform will be able to go to market rapidly with cryptocurrency propositions using the label of an existing and trusted platform - powered by Zumo.

Eddie Robb added: “Our solution can be hugely valuable to companies, because it will allow them to offer customers the ability to trade cryptocurrencies whilst shielding the wider business from the ups and downs of the markets.

“ZumoKit’s modular approach makes it easy to introduce a cryptocurrency solution which corresponds to the needs of modern customers.”

ZumoKit Use Cases:

Fintech Companies: With ZumoKit, innovative financial organisations can create new revenue streams, engage customers in a different way or diversity their portfolio. Our solution allows businesses to give their customers fully-featured and easy-to-use crypto wallets.

Payments Providers: ZumoKit can help money transfer companies reduce the cost of sending payments across borders. Using digital currencies, businesses can send money around the world at a fraction of the price.

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