Earlier this year, Brazil’s Central Bank selected 16 financial institutions, among them Parfin, to join the test phase of Drex, the first regulated Brazilian digital currency. The goal is for these entities to understand and evaluate the cryptocurrency’s privacy and programmability to devise their innovations within a secure simulated environment. Most of the approved institutions in this phase are banks and traditional financial market organizations.

Both contemporary and classic enterprises are keeping an eye out for the advantages offered by blockchain. And the sector's regulation is keeping pace with innovation. The Digital Real, spearheaded by a financial regulatory agency, marks this revolutionary process. This close attention to crypto's potential enables innovations that expedite and secure financial transactions, reduce the need for intermediaries, and ensure equal access to banking services for Brazilians.

In practice, quickly adapting to this new economic demand means adopting an innovative stance and securing a clear competitive edge over companies not aligning with this system, be they traditional or otherwise. To integrate their products and services swiftly and efficiently into the cryptocurrency market, many resort to Crypto as a Service (CaaS).

The role of Crypto as a Service in the financial revolution

CaaS provides the infrastructure required for financial institutions to offer their customers cryptocurrency trading solutions. The approach is akin to the popular Banking as a Service (BaaS) initiatives.

A key advantage of adopting this kind of solution is the speed of the implementation process. Since blockchain is a recent innovation, only a handful of professionals truly have deep expertise and a broad background in the area. Basically, the process of assembling a team and navigating through all phases before launching the initial projects might span several months.

The path is even more challenging for companies not native to the digital asset space. Here, setting up an entire ecosystem from scratch comes into play, which not only requires financial investment but may also mean a significant detour in the company's original trajectory. Thus, CaaS offers a shortcut to integrate these crypto solutions efficiently into an institution's portfolio.

CaaS benefits for traditional companies

Adopting CaaS means institutions don't need to worry about software development. However, a robust corporate governance structure is vital to counteract illicit activities like money laundering and ensure efficient risk management. Moreover, the CaaS partner must be trustworthy and mindful of compliance and market regulations.         

It is within this context that Parfin's CaaS has thrived. We've developed a web and API tool providing all the necessary infrastructure for the comprehensive management of digital asset operations. Through our platform, you can offer crypto asset solutions to your clients in a secure and scalable manner.

Parfin's CaaS highlights include:

Smart Order Routing: Leveraging advanced algorithms, Parfin's CaaS ensures optimized order execution across multiple exchanges. This allows your institution to achieve better prices compared to a single broker 95% of the time, besides ensuring redundancy for the linked liquidity providers.

Request for Quote (RFQ): Offer your clients the option to buy and sell crypto-assets under a fixed-rate model.

Customization and Integration: Using open APIs, businesses can integrate Parfin's CaaS into their existing apps. This allows the platform to fit various existing business models.

Liquidity Channels: The platform's ability to connect different CaaS instances and provide liquidity among them ensures efficient trading, price stability, and slippage control. This is a major benefit for large institutional clients.

Digital Asset Safe Custody: Security is paramount in the crypto world. Parfin's CaaS includes a robust digital asset custody solution, offering reassurance to businesses and their clients with safeguarded investments.

Deposit and Withdrawal Services: The platform provides simplified and automated deposit and withdrawal services, making it easy for users to manage their funds.

Compliance and Regulatory Alignment: Designed to meet relevant financial industry regulations and standards, Parfin's CaaS simplifies the process for traditional financial institutions and companies to engage with cryptocurrencies without legal concerns.

With Parfin's platform, you have access to technologies and expertise to build and manage your entire digital asset infrastructure. Reduce operational costs and gear up for the new age of the digital economy.