Zumo launches pioneering full-stack B2B crypto solution
Zumo, the Edinburgh-based crypto wallet and payments platform, has announced the launch of Zumo Enterprise, its new B2B ‘Crypto-as-a-Service’ solution that enables companies to offer crypto products and services to their customers.
The first of its kind in the UK, Zumo Enterprise is the market’s only full-stack, embedded crypto solution. Zumo Enterprise allows fintechs and financial institutions to effortlessly embed crypto within their existing infrastructure, offering a fast, flexible, low-barrier and compliant route to market while opening up new revenue streams, attracting new customers and supporting customer retention. It follows on from ZumoKit, a beta product released last year to test out the proposition.
Zumo Enterprise has been created amidst growing demand for crypto products and services, with worldwide adoption jumping by over 880% last year. Businesses realise the scale of this opportunity, with 80% of respondents to a recent global Deloitte survey agreeing their respective industry will see new revenue streams from blockchain, digital assets and crypto solutions, and 73% believing their organisation will lose competitive advantage if it doesn’t adopt such solutions.
Importantly, by being compliant in the UK, Zumo Enterprise enables fintechs and financial institutions to fulfil their duty of care to customers, harnessing crypto solutions in a safe and secure manner. Zumo Enterprise also features an embedded ESG and net zero strategy.
Nick Jones, Co-Founder and CEO, Zumo, said: “Consumer preferences are changing. Digitalisation is accelerating. Amidst an increasingly competitive and fast-evolving financial landscape, the demand for new, alternative solutions is booming.”
“Zumo’s embedded crypto technology plugs seamlessly into fintechs’ and banks’ existing tech stacks, helping them to tap into this surging demand for digital assets. Zumo Enterprise offers a compliant, flexible solution that removes the need to deploy specialist teams or incur huge development costs. It will help forward-thinking financial institutions to meet the needs of both present and future customers.”
Available via either API (Application Programming Interface) or SDK (Software Development Kit), Zumo Enterprise’s white-label solution gives businesses a blockchain-agnostic suite of tools through which to enable customers to securely hold, buy, sell and send digital currencies, complete with wallets, exchange service, and managed onboarding and compliance. Zumo Enterprise’s customers can choose modules as required and benefit from direct access to Zumo’s team of industry experts.
Zumo Enterprise has been developed following the success of the B2C Zumo App, which offers consumers a secure, easy-to-use cryptocurrency wallet that allows anyone to buy, sell, store, send and spend cryptocurrencies alongside traditional British Pounds. Zumo App’s customer base has grown 25% month-on-month since the platform launched in August 2020.