Brankas API Capabilities for Cryptocurrency Services and Platforms

There’s no doubt that cryptocurrency’s relevance in the financial industry will remain significant over the coming years. Growth of cryptocurrency adoption among emerging economies accelerated at the beginning of the pandemic. According to research firm Oxford Business Group, the top-three developing countries that had the highest growth in cryptocurrency activity in 2020 were Nigeria, Vietnam, and the Philippines, driven by remittance payments.

Financial institutions in the Asia-Pacific region are expected to ramp up their cryptocurrency initiatives in 2022, according to US-based credit rating firm Fitch Ratings. A recent example is Jakarta-based venture capital firm BRI Ventures partnering with crypto exchange platform Tokocrypto to launch Indonesia’s first blockchain-focused accelerator program in January 2022. The program will focus on funding startups within the decentralized finance space, including play-to-earn systems and non-fungible tokens (NFTs).

To support the growing market for cryptocurrency products and services in the region, Brankas is offering our open API system to partners who want to create a customized interface that can seamlessly process cryptocurrency transactions.

Brankas’ cryptocurrency products and services

Currently, the process of converting cryptocurrency tokens to fiat (currency-based money) is complicated and requires different third parties with varying fees. With all the various providers and tokens available, the whole process of token conversion can be overwhelming.

Through our technology and experience in decentralized finance, we have the expertise to eliminate these pain points and create open APIs that are:

• Tailored to the cryptocurrency needs of any company. A primary use case in the region is the play-to-earn space where guilds or teams are formed to play for tokens. Investors in this segment would benefit from a holistic, automated interface that can handle payments, cash-ins, or even cryptocurrency transactions in the local currencies, which we can build and connect through our network of partners.
• User-friendly. We prioritize the user experience when creating APIs, ensuring that these interfaces have clean designs and an intuitive navigation. From creating accounts to storing assets to facilitating payments, we make sure that your users never get lost in the process.
• Platform-agnostic and flexible. We offer open banking suite solutions that can be integrated into multiple platforms. For example, we can embed solutions into Discord with API functionalities relevant to play-to-earn companies. We can also expand services, depending on any additional business needs.
• Data-driven. Using our existing capabilities in providing data analysis, we can incorporate the same processes to track user behavior patterns that companies can use to improve their offerings and customer service.
• Secure and compliant. We take data privacy and compliance very seriously. We follow all the necessary steps to comply with regional and local policies regarding digital transactions and data protection. The protocols we use are SSL/TLS and AES-256 encryption methodologies, HMAC and OAuth 2.0 standards, and OWasp practices. We are also ISO 27001-certified and PCI DSS-compliant.

Use cases for crypto services

• Play-to-earn token transactions and fiat pay-outs.
• Cryptocurrency companies that are looking to streamline their transactions and asset management processes.
• Banks that want to explore the digital or cryptocurrency space.

We plan to offer more interconnected cryptocurrency products and services in the future, such as one-stop apps for the entire cycle of cryptocurrency management. This includes:

• helping banks to connect to the crypto market and opening instant bank accounts for liquidated/exchanged currencies
• helping institutions that store and move assets between third parties
• investing assets
• facilitating pay-ins and pay-outs, bill payments, and other financial transactions

Interested in a cryptocurrency API for your business?

Brankas has the expertise, technology, and teams that can help jumpstart your cryptocurrency digital services. Our portfolio of API partnerships with major financial institutions in Southeast Asia has given us the knowledge and experience to implement solutions that work.

If you want to know more about our cryptocurrency and open banking solutions, please reach out to sales@brank.as.