StrigaEuropean market-focused banking-as-a-service platform has released its latest offerings, Crypto Onramp API and Offramp API for Neobanks, DeFi and Web3 apps.
Striga aims to make it easier to hold or cash out cryptocurrencies. The platform has launched a new fiat-to-crypto or crypto-to-fiat API that can be incorporated into any crypto or fintech product. Overall, the company’s main goal is to make it easier for more users to buy and sell cryptocurrencies.
This new product is expected to support partners as well as consumers. Striga partners can enhance their own products by plugging new widgets into their platform. The company strives to ensure that users do not leave their platform in search of suitable crypto tokens. A new addition to Striga’s service will also allow these consumers to purchase crypto and have it sent directly to their personal crypto wallet.
Strigas’ BaaS platform also offers a very competitive 0.5% exchange fee. Striga also provides the ability for partners to mark up this exchange fee to generate another revenue stream.
Fiat-to-crypto and crypto-to-fiat APIs provide flexibility for both crypto and fintech apps. The platform offers Striga Sandbox, which allows companies to manage their applications from one place.
Unlicensed? no problem.
Striga explained that it has confirmed that it is already ready to comply fully with the requirements of the MiCA law, which is set to apply pan-European in 2023.
New fintech or cryptographic app providers can leverage Striga’s license to use its cryptographic infrastructure as a service. By offering this, you don’t have to try to ensure compliance, and you can even use the service without your own license.
Companies looking to ensure compliance today may expect to require an investment of €1 million or more. This process requires the implementation of compliance-related infrastructure into the company’s core codebase. Ensuring compliance in this way can also slow product shipment and completion. Striga wants to reduce the time it takes to do this with its products while eliminating the uncertainty and doubt before launching the product.
Seen in September 2022 Striga Became the first licensed company to operate under the new Anti-Money Laundering and Terrorist Financing Law. obtained a license from Estonian Financial Information Unit.