Blockchain
Relio Launches Crypto-Friendly Business Accounts for Web3 Firms
Relio Introduces Crypto-Friendly Business Accounts for Web3 Companies
Relio, a neo-bank focused on serving SMEs and startups, has launched crypto-friendly business accounts tailored for Web3 companies. This initiative aims to support businesses with complex models and those involved in international transactions, addressing a service gap often neglected by traditional banks. Relio’s advanced compliance technology is designed to simplify the banking experience for blockchain startups and crypto firms, reducing the bureaucratic hurdles typically faced in the Web3 sector.
A New Banking Approach for Complex Business Models
Launched last fall with a fintech license, Relio has expanded its focus to become a supportive partner for SMEs, freelancers, and startups, especially those with unique needs due to complex business models or global operations. Traditional banks often struggle to accommodate such companies, which do not fit the standard SME profile. Relio aims to fill this niche by providing customized banking solutions that meet these enterprises’ specific requirements.
Addressing the Needs of Crypto Companies in Switzerland
Despite Switzerland’s reputation as a hub for blockchain innovation, many blockchain startups and crypto companies still face significant challenges in accessing banking services. Traditional banks often lack the necessary expertise to manage Web3-related businesses, leading to lengthy onboarding processes and high fees. Relio aims to alleviate these issues by offering more accessible and cost-effective banking solutions, ensuring that Crypto Valley remains supportive of blockchain innovation.
Innovative Compliance Solutions
Relio promises “compliance without complications” to blockchain and crypto companies. Compliance and anti-money laundering (AML) regulations often lead to extended delays in account opening due to intensive due diligence and monitoring processes. Relio’s proprietary compliance technology automates many of these tasks, significantly reducing the time and effort required. By investing heavily in its technological platform, Relio caters specifically to the Web3 industry, providing a competitive advantage that simplifies banking processes for its customers.
Expansion Driven by Market Demand
Relio’s CEO, Lav Odorovic, notes substantial demand from the Web3 sector. The company’s decision to expand its offerings to this segment leverages its technological focus on compliance and AML capabilities. This strategic move aims to serve the Web3 industry in a compliant manner while minimizing bureaucratic burdens, addressing challenges that traditional banks often fail to meet.
Fostering Innovation and Growth in Crypto Valley
Relio’s introduction of crypto-friendly business accounts is a significant step towards fostering innovation and growth within the Web3 industry. By offering tailored banking solutions that address the unique needs of blockchain startups and crypto companies, Relio helps ensure that Crypto Valley remains a thriving hub for technological advancements. This move underscores Relio’s commitment to supporting the financial needs of innovative companies and contributing to the overall development of the blockchain ecosystem.
Pioneering a New Era of Banking for Web3
Relio’s launch of crypto-friendly business accounts represents a pioneering effort to bridge the gap between traditional banking and the evolving needs of the Web3 sector. Through advanced compliance technology and a focus on reducing bureaucratic barriers, Relio is set to become a crucial partner for blockchain startups and crypto firms. This initiative not only enhances the banking experience for these companies but also reinforces Crypto Valley’s status as a leading center for blockchain innovation.
Source: cointrust.com
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Blockchain
Switzerland Regulatory Technology Business Report 2024: Market to Surpass $550 Million by 2029, Driven by Collaborative Opportunities and Data Privacy Solutions
Swiss RegTech Market
Following a management buy-out by the management team at TOKO FZE, the business has been rebranded as Scintilla, the revolutionary platform providing on-chain solutions and services to make investments more inclusive, accessible, and efficient. Having been developed within DLA Piper’s Law& innovation portfolio, TOKO – now Scintilla has a fresh brand identity, new leadership, and innovative product offerings. Scintilla is set to reshape the future of finance by enabling businesses to unlock the power of blockchain technology across various asset classes, with DLA Piper remaining as a minority shareholder.
Regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), Scintilla is one of the first digital asset companies to gain full market licenses, marking a significant milestone in the sector’s landscape. Being a regulated entity underscores Scintilla’s commitment to the highest standards of compliance and security while pioneering new solutions for tokenization in the global market.
Innovating Finance Through Tokenization
Scintilla offers a comprehensive suite of tokenization services designed to bring liquidity, transparency, and efficiency to traditional finance sectors. From tokenized financial products, and real estate all the way to new legal funding products, Scintilla’s digital asset solutions enable clients to tokenize assets that were previously inaccessible to investors or illiquid.
Scintilla’s services include:
Advisory Services: The gateway to successful market entry. From initial opportunity assessment to strategic development of game-changing tokenization-based solutions.
Use Case Development: Bringing products to life. From initial POC development and iteration towards MVP all the way through to the full market launch.
Broker/Dealer Services: Creating new markets. Regulated primary market trading, ensuring the highest levels of trust and security within the tokenization space.
Exchange Services: Universal participation. Seamless, secure secondary trading of tokenized assets, with industry-leading technology and compliance standards.
Scintilla is uniquely positioned to capitalize on the confluence of Dubai’s world-leading regulatory environment, cutting-edge technology, and the burgeoning RWA market.
A New Era for Scintilla
The relaunch of Scintilla represents more than just a rebranding—it signifies the company’s growing ambition to lead in the digital asset space. With an expanded team of industry experts, including continuing Board representation from DLA Piper, and a clear strategic vision, Scintilla is set to drive the adoption of tokenization in traditional financial markets.
“Our relaunch marks the beginning of an exciting new chapter for Scintilla and the wider industry. We are committed to pushing the boundaries of what is possible in digital finance while ensuring our solutions are underpinned by strong regulatory compliance,” said Tim Popplewell, CEO of Scintilla. “With our new suite of products and services, we are empowering investors to transform the way they manage and access value.”
Jean-Pierre Douglas-Henry, Managing Director, Sustainability and Resilience, DLA Piper added: “Innovation is a key strand in our business strategy. As our business focuses on developing and nurturing innovations that add significant value to our clients through our Law& innovation program, it is fantastic to see this solution spun out into the thriving digital asset space for the next stage of its growth and development.”
The post DLA Piper’s crypto tokenization engine TOKO relaunches as Scintilla appeared first on HIPTHER Alerts.
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