" class="no-js "lang="en-US"> Rehive and Wyre make it possible
Tuesday, November 29, 2022

Rehive and Wyre make it possible to launch a compliant fintech app in a matter of days

Rehive are excited to announce that our Wyre integration is live.

It is the easiest way to add financial services to your marketplace with your own branded fintech app. The process of building a fintech app or wallet from scratch can be quite costly — sometimes costing over $250K — this integration set up companies at a fraction of the price and saves considerable time to market.

“We have over 30 applications on our waiting list for this integration and continue to see more coming in. The number one request from clients has been end-to-end integrations with licensed money services providers like Wyre. Until recently, clients had to do these integrations themselves. It is now possible to go live with a production-ready fintech app in a matter of days” – Helghardt Avenant, CEO of Rehive

Businesses can create a sandbox account on Rehive and follow the step-by-step onboarding process to configure their fintech application with their own branding. Rehive takes care of the application layer while Wyre solves compliance, providing on and off-ramps between crypto and fiat, as well as providing custody for user-end funds. It is required to open a Wyre and Plaid account in order to link the integration.

Rehive is the easiest way for marketplaces to add financial services to their ecosystem or for new fintechs to get started. There is a lot of fintech infrastructure available, but it is still expensive and complex to build your own app on top of these providers. Rehive has created a no-code application layer that slots on top-of-key providers like Wyre.

The key use case is doing payouts and payments. Instead of doing payouts to Paypal, Cash App, or bank accounts, now marketplaces can launch their own branded payment solutions. It is an opportunity for marketplaces to save on payout fees, open new revenue streams and retain customers. Earlier this month Rehive also launched a pilot program for clients interested in the Wyre integration. Successful applicants get $7,500 in credits to launch a fully custom-branded fintech and payments app on our Premium subscription.

Clients have the option to build on Rehive’s API, re-use frontend modules, or simply leverage the standalone application. The standalone application has similar features to Cash App and PayPal which includes send and request payments, bulk payouts, in-app purchases, invoice and payment links, currency conversions, and cash-back rewards.

The integration also supports USDC — a dollar stablecoin — powered on the Stellar network. Stellar enables seamless, near-instant, low-cost cross-border payments.

Earlier this month Wyre has been acquired by Bolt for $1.5B with plans to add crypto and web3 capabilities to its existing digital wallet.

“We are excited about Bolt’s acquisition of Wyre. There is an opportunity for Rehive to work directly with Bolt merchants or marketplaces that are looking to launch their own branded fintech applications.” – Helghardt Avenant, CEO of Rehive

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