Saturday, June 22, 2024

Sila and Sequoir Create an Embedded Solution for Crypto Trading and Custody

Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that it partnered with Sequoir, a provider of blockchain trading and custody infrastructure, to create custom blockchain solutions for businesses. This opens up new revenue streams for banks, credit unions, fintech, and the so-called Web 3.0.  Sequoir’s Partner API provides a simple and secure way to buy, sell and custody different digital assets. The Partner API enables Bitcoin, Ethereum, and other digital asset execution, settlement, and custody to be embedded quickly and with ease within a fintech app or financial institution. Thanks to a deep integration between the two firms’ technologies, customers experience a seamless flow of transactions and a high-level of fraud protection.

Many companies that are involved with cryptocurrencies and other digital assets often have a difficult time establishing business relationships with traditional banks. By partnering with Sila, a bank agent of Evolve Bank & Trust (member FDIC), Sequoir saves time, money and resourcing overhead typically required when attempting to create a bank relationship bilaterally, a benefit that also extends to its customers. Sila also provides know-your-customer (KYC) and know-your-business (KYB) verification tools. Sequoir and its customers benefit from these ID verification tools as it cuts down on fraudulent activities.

“Sila and Sequoir share a long history of working together and helping each other advance their services,” said Justin Seidl, CEO and founder of Sequoir. “Our company looks different today because of the deep collaboration with Sila. I know that our feedback and demands over time have advanced and refined Sila’s offerings in return.”

“The partnership between Sequoir and Sila could almost be a blueprint for how we want to work with customers – a true partnership with a mutual give and take,” adds Shamir Karkal, CEO and co-founder, Sila Inc. “We are making each other better and our services more relevant to today’s fintech and crypto entrepreneurs. Our respective customers are the clear beneficiaries of our joint history.”

Sequoir’s Partner API was built by developers, for developers. Transparent pricing, a single unified management dashboard, and the feature to brand a solution in the customer’s identity make the Partner API an easy infrastructure choice for businesses who want to transact with the blockchain.

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