Striga, the first company to be licensed to operate under the new law across Europe offers new services that make it easier to hold or cash out cryptocurrencies to various products including neobanks, marketplace,web3 apps, or even DeFi projects. The company’s new fiat-to-crypto or crypto-to-fiat can be embedded in any crypto or fintech product so that users can buy and sell crypto easily.
Instead of letting users leave the platform in order to go and hunt down the right crypto token, Striga offers its partners on-ramp & off-ramp APIs that enable them to plug a simple widget to allow their users to buy & sell crypto simply via the plugin sitting right there on the platform. The crypto purchased is then sent to their own personal crypto wallets where they hold custody of it, even while you’re using it to interact with blockchain apps.
Striga’s fiat-to-crypto and crypto-to-fiat APIs provide more flexibility to the crypto and fintech apps as you can manage your whole application from one place: Striga Sandbox. In addition, Striga provides one of the most competitive exchange fees in the market with 0.5% per exchange. Striga’s partners can markup this fee and unlock another revenue stream.
With the MiCA legislation set to apply pan-Europe in 2023, Striga is more than well-positioned to fully comply and meet these requirements to continue shipping products. Effectively, for any company going through the process, one can expect to dedicate well over €1M to the task, implementing gnarly compliance-related infrastructure into your core codebase and around 12 months of fear, uncertainty, and doubt before you can even finalize your product and ship it. Today, innovators can benefit from Striga’s license and use their crypto infrastructure as a service without the need for compliance or even a license.