Bitcoin reaching dizzying heights above $100,000. That’s the potential scenario after the upcoming halving event in April. With such a remarkable rise, the interest in crypto will be at an all-time high.
According to research, the cryptocurrency banking market alone, valued at USD 1.49 billion in 2021, is projected to reach USD 2.52 billion by 2029. Businesses have already become way more interested in crypto integration, but to onboard into this modern finance world, they require payment processing, asset management, and other infrastructure components. So, where does the gap lie between the research and the reality?
The problem is – only a handful of companies providing these solutions can really support crypto businesses in attracting Web2 clients and traditional businesses in expanding their offerings. Specifically, there are five B2B ventures that hold the most potential.
Vault
Vault is a company that launched less than a year ago, based on the groundwork of the B2C platform, Choise.com, but is already positioned high in the digital/crypto banking sector. It quickly became known for its brisk services that enable businesses to start fiat and crypto banking operations within a brief timeframe.
In one of his latest interviews, Vladimir Gorbunov, the founder of Vault, explained that many companies in the fintech market aim to create their own solutions, but the costs of maintaining licenses and the ongoing need to manage anti-fraud measures are super costly. That’s why opting for Vault’s solution can help clients bypass these obstacles since the company itself has already undergone rigorous testing and accumulated valuable market experience over the years.
Vault has already amassed $20 million in revenue and aims to reach $60 million by the end of this year. With 40+ contracts already secured, amounting to approximately $18.5 million, Vault’s business model showcases significant profitability, with multimillion-dollar contracts being inked each month.
The team behind Vault and Choise.com has already hinted that they are actively working on new initiatives that will be relevant to the entire ecosystem they’ve built. Whether it will be another layer of utility or something different remains to be announced.
Paystand
Paystand offers businesses straightforward Payments-as-a-Service solutions. When it was founded, it soon became known as the industry’s first Ethereum-based hybrid blockchain.
With blockchain at its core, this company ensures that payments are electronically certified and notarized, creating a trustworthy and tamper-proof record of transactions. Moreover, Paystand operates without imposing any fees, a feature that aligns perfectly with every business’s bottom line – to make greater profits.
Since 2019, Paystand has experienced substantial growth, expanding sixfold despite economic challenges, which equates to a growth rate exceeding 600%. Yaydoo, one of the leading Mexican startups at that time, became part of Paysend’s portfolio in 2022, highlighting its prowess in handling accounts payable, cash flow, and liquidity solutions.
LCX
More and more people and businesses want to go digital with their assets. And for good reason – it boosts security, simplifies online transactions, and makes it easier to manage smaller pieces of their assets.
And when we consider merging blockchain technology with sectors such as real estate, art, and luxury goods, LCX comes into focus with its asset tokenization platform. Their physical validator ensures that tangible assets undergo tokenization in a secure and regulatory-compliant manner.
Yet, LCX tokenization services go beyond basic and include Security Token Offerings (STOs) to assist in launching STOs with regulatory guidance and marketing support.
In 2023, LCX launched a pioneering tokenized bond offering, transforming compliant staking for BTC, ETH, and the LCX Token. Valued at 40 Million Euros, the bonds, including EURt7, BTCt7, ETHt7, and LCXt7, are backed by a regulatory-approved security prospectus available to investors in the European Economic Area (EEA).
Mercuryo
With a team of over 200 employees who have built over 200 apps since the company was founded, Mercuryo is enhancing payment use case growth. Through a single API integration, they offer a multitude of financial services, making them easily accessible to companies.
Navigating through dApps, custodial wallets, exchanges, NFT platforms, and neobanks, Mercuryo tackled a range of challenges, adapting solutions to align with the distinct needs of each sector.
As 2024 began, Mercuryo debuted Mercuryo Pro, a personalized crypto banking service catering to affluent individuals and corporate entities. Users have the option to exchange assets like BTC, ETH, SOL, and euro-backed stablecoins for fiat currency without any constraints on this platform.
Fireblocks
With Fireblocks at the helm, businesses can streamline digital asset operations through its suite of applications and leverage its robust development platform to foster growth on the blockchain. And, with thousands of companies onboarded and over $4T transaction secured, it’s clear they’re finding value in Fireblocks.
Their Wallets-as-a-Service solution lets businesses create, manage, and secure MPC wallets at scale, meeting specific needs effectively. In addition to that, they also handle crypto and DeFi treasuries, financial tokenization, NFT minting, and process stablecoin and digital asset payments.
Notably, in 2023, Fireblocks acquired Tokenization Firm BlockFold, expanding its services to better serve the banking industry.
Conclusion
The combined effort of companies such as Vault, Paystand, LCX, Mercuryo and Fireblocks, along with the impact of the coming Bitcoin halving, could change how people globally see cryptocurrency. But while all these companies offer distinct B2B services to streamline the adoption of digital assets in various business areas, Vault seems to cover most of them by providing a ready-made crypto banking infrastructure.
The team behind it has successfully built and developed Crypterium, which later evolved into Choise.com, a crypto platform that combines CeFi and DeFi solutions for over 1 million crypto users worldwide . So, having overcome all of the challenges modern businesses face when dealing with blockchain and finance at the same time, the Vault originators can now help with all of the things digital and crypto banking. This is done all while saving time and money, something very few companies can offer.