Given this scenario, many financial institutions have already initiated projects to test blockchain-related solutions in the background of their businesses. However, when it comes to initiatives aimed at creating solutions for clients, executives face the apprehension of making significant investments before gauging demand size.

"A simple way to test this adoption is to promote Business Process Outsourcing (BPO), which involves outsourcing business processes related to blockchain technology. This way, it's possible to offer a customized crypto service to clients without altering the company's structure," says CH Lopes, CDO at Parfin.

Parfin solutions

Known for its security, speed, and customized service, Parfin has been an important accelerator in the market, especially in Brazil and Latin America. Services include custody, tokenization, trading, and digital asset management solutions.

Amid the popularity of cryptocurrencies, a new business model is forming. It's no coincidence that more and more institutions are beginning to offer tools that allow clients to trade digital currencies through partnerships.

Parfin's Crypto as a Service allows banks to offer crypto services to clients through a secure API and web platform. "The solution is scalable and features institutional controls that allow the use of local currencies from various countries," notes Carlos.

By signing up for the service, the financial institution begins to use Parfin's infrastructure, accounts, and backoffice.

"We bring knowledge and support. Later, with the demand confirmed, the company can stop using the BPO and start developing internal departments and processes," says Tiago Merli, Head of Operations at Parfin.

Service dynamics

Last July, NG Cash - the first digital wallet exclusive to Gen Z in Brazil - partnered with Parfin to provide cryptocurrency trading services to its clients.

"It was the client for whom we implemented the solution most swiftly. Less than two months after signing up for our BPO, the service was up and running," says Luiz Vianna, Head of Customer Success at Parfin.

The project, which provided the infrastructure to offer Bitcoin (BTC) and Ethereum (ETH) within the company's app, is also set to include other cryptocurrencies in the coming months.

"We handled all the back-office operations, meaning our team is there to buy, sell, manage custody, and implement all the technological infrastructure," states Vianna.

Parfin's BPO was also hired by Santander and B3.

"Companies assess the viability of new businesses before implementing their own solutions for day-to-day operations. It's a natural process," says Merli.

Industry advances

Parfin considers three pillars to contribute to the industry’s development:

• Education: We explain the technology's workings, processes, and advantages and give clients a global and panoramic view of blockchain technology development.

• Processes: Through BPO, we accelerate the offering of new services to clients in a fully customized process.

• Time to market: We offer a team of qualified professionals to operate the services and guide project directions based on market trends.

"We also share, with the market in general, in-depth studies and discussions on specific industry topics. An example is our 'Drex Perspectives: An Institutional Analysis' report, which addresses technical aspects of the initiative and provides a deep analysis of the potential changes that the Real Digital may bring to the economy," says CH.

For more information about Parfin's services, visit our website.