Wallter®'s long-term strategy as was set by its management foresees that the blockchain will be an integral part of the digital banking sector. The traditional banks as we see them today will have to change and adapt. Branches will close. Call centers will reduce and we will see more and more digital advancements. Wallter® as a major player in alternative banking/digital banking has to offer more and more products and services involving digital assets, not just cryptocurrencies, but also NFTs, DeFi, Cryptocurrencies, AML information, etc.
In the initial stages, Wallter®`s clients will shortly be able to buy and sell the major cryptocurrencies on the Wallter® platform, using a third-party affiliate of Wallter®. Businesses will be able to transact safely and securely with cryptocurrencies using Wallter® platform. This will be done using innovative AML rules and procedures and unique flows we established.
The benefits for companies are the quicker services and the fact that today compliance departments in banks are less and less accessible or comprehendible. Using Wallter® will allow the companies to transact under the Wallter® compliance umbrella. To enjoy the benefits of our EDD on boarding and retrospective monitoring and transactional rules. We will offer them safety, security, reliability, and credibility knowing they can trust our services.
A company is sending money, but the money is stuck at a corresponding bank, no one explains the requested documents, or takes the time and effort to understand the transaction. Wallter® clients have a personalised client relationship manager. The compliance requirements are made accessible, speaking the client’s words, and requesting supporting documents. This allows the TRX to go through with reliable supporting documents, and transactions are checked, approved, or rejected. Transacting in digital assets at Wallter® will allow you to rely on our chain analysis, our source of funds checks, and allow your business to transact quicker, safer, and more reliable.
There’s no limit to certain industries. Any activity which will be allowed by Wallter® under our list of prohibited activities should be interested in this solution. Let us take an example from the gaming industry – nearing trillion USD in turnaround worldwide – the aim of the merchants is to allow the players to use alternative payment methods – quickly, safely, and reliably. It is an excellent example for interested business vertical/industry. The same rule applies to ecommerce, high tech, IT companies, platforms such as Airbnb etc.
The Blockchain and digital asset train has left the station. Get on board and help us develop the market creating clear AML rules and procedures, unified regulation, set some standards that don’t exist these days. In 2-3 years you will regret not taking part in this revolution. The blockchain and digital assets revolution equal the industrial revolution in the 1800s.
Several countries have introduced favourable crypto regulations, and other countries have completely embraced cryptocurrencies (The Central African Republic has become the second country in the world to adopt Bitcoin as an official currency after El Salvador took the same step in 2021).
Once governments will understand that digital assets can also resolve major ML issues, and be more reliable, secure, quick, and traceable – we will see more and more countries offer national cryptocurrency to their citizens.
Governments are already taking steps to promote CBDC initiatives. So we will soon see for example a US digital currency issued by the federal reserve. A European digital Euro. We will not carry a wallet or bills anymore. And all transactions will be digital.
Although there will be challenges to the privacy, performance, security, and stability of traditional financial institutions, once the regulators find a way to monitor these digital currencies, they will become legitimate and change the way we pay.
Cryptocurrency is the foundation upon which DeFi and Web3 are built. DeFi and Web3 are a revolution. Not only will it change the financial industry, but it will also change the internet itself. The usage of different infrastructures and rails to transfer data and digital money will redefine a whole new way of connecting people and businesses. It will change our perception of reality, but it will take time. Before Web3 is used as a standard, CBDC is likely to make a profound impact on the cross-border industry.
Traditional banks will become backend services, that will be consumed by the fintech industry, FinTechs will provide the customer-facing services and money will be digital and accessible, using the DeFi infrastructures.
To survive, financial organisations will have to find new business models, either through partnerships or by developing new services and value propositions.
Eventually, financial services will be a commodity embedded within everyday activities, and consumers will become less loyal to specific brands.
Wallter® is celebrating this year it five-years anniversary and it seems like we started yesterday with a dream, an office, a banking partner, and a vision. We didn’t think about cryptocurrencies. When people approached me back then I was anti-digital assets. I thought it was just another trend or Ponzi scheme. I also thought it was a way to launder money and bypass rules and regulations that will be used by the wrong people. As time passed I admit I was wrong. In 5 years, 10 years, and 15 years a world without cryptocurrencies will seem strange. Digital assets make sense! They are innovative. Safe. Secure. Quick. Reliable. Once regulated properly can help in the prevention of money laundering. Wallter® wrote some protocols and procedures to foresee major issues. We put together a team that worked for 18 months on our flows, what we check, and what procedures we implement – to set a higher benchmark in this unregulated market. Our clients will not like it at first, but like always will understand that we are doing it to help them work in a safe environment. So in 5 years, Wallter® will be a leading player in offering digital asset services and capabilities to its merchants and other financial institutions.
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