An Introductory Guide to Streamlining Crypto Processes with Business Wallets

A growing number of corporations worldwide are slowly including crypto payouts and accepting cryptocurrencies, streamlining operations, and utilizing digital assets for investments. At the same time, one of the key obstacles hindering a smoother adoption of digital assets into corporate workflows is the lack of trusted partners.

Paybis has been in the crypto business for over a decade, and as we grew from a rather straightforward crypto exchange platform, we became an established crypto service provider. We’ve built a trusted team of experts who are developing new products to help everyone transition to crypto more easily.

And now, we’re introducing OTC Desk & Business Wallets, your gateway to streamlined crypto processes for on- and off-ramping cryptocurrencies and storing, swapping, sending, and receiving crypto payments.

Why Are Companies Interested in Crypto Adoption?

Crypto adoption is increasing and numbers don’t lie. Approximately 15,000 companies worldwide with around 2,400 companies in the US alone have started to include Bitcoin as a valid method of payment and as part of a benefits package.

Incorporating cryptocurrencies enables companies to pay different vendors and merchants globally in cryptocurrency, making payments instantly, securely, and with lower costs. But here’s a quick rundown of other major benefits of cryptocurrencies for business workflows:

• Access to new markets and global payment and reduced payout costs.
• Investment diversification to capitalize on the crypto market’s potential growth.
• Blockchain technology benefits like transparency, security, and operational efficiency.

Moreover, the latest information recorded by CoinMarketCap shows that the global crypto trading volume was well over $2 trillion in March this year. This only goes to prove that companies understand the potential of crypto adoption.

Challenges of Adopting Cryptocurrencies for Businesses

Despite the undeniable benefits, the crypto market is new, so there’s an obvious lack of tools and service providers to successfully integrate cryptocurrencies into business workflows. Here’s a list of what we identified as key challenges for companies wanting to add cryptocurrencies into their workflows:

• Transaction security concerns. While blockchain technology is known for its security advantages, cryptocurrencies are still at risk of cyberattacks, hacking, and fraud.
• Technical difficulty & complex UX/UI. Integrating and developing cryptocurrency solutions on an enterprise level requires deep technical and blockchain experience.
• High fees and foreign exchange (FX) costs. Excessive costs reduce profitability and increase the cost of doing business.
• Lack of supported payment methods. Insufficient payment method options restrict clients’ flexibility in managing transactions.
• Slow and low-quality customer support. Unsupportive customer service, lack of knowledge, and ineffective problem resolution can leave users frustrated when encountering problems.
• Slow onboarding and compliance team response time. The KYB (Know Your Business) procedures can take some time, and since the onboarding process is slow, new users may feel frustrated and seek more efficient alternatives.

These challenges prevent companies from successfully adapting crypto solutions, which also means that they can’t tap into the potential of crypto. That’s where Business Wallets come in.

Defining Paybis

Paybis is a major crypto exchange platform and crypto service provider that’s known for fast and secure transfers, extensive list payment methods, and then low fees. We started out in 2014 as a minimalistic crypto exchange platform, and since then have grown into a globally recognized platform with services for B2C and B2B markets.

With industry-level expertise and global reach, we started working on B2B products to help all companies transition to cryptocurrencies more easily and smoothly. With the introduction of Paybis Send, On/Off Ramp, Plug&Play Wallets, and Business Wallets, we want to offer businesses safe, reliable, and efficient tools for crypto adaptation success.

Paybis’ Business Wallets

OTC Desk & Business Wallets is a new B2B product we developed for businesses looking to integrate cryptocurrencies. This solution provides a secure and simple platform to buy, sell, store, send, swap, receive, and manage crypto for your business operations.

Moreover, Business Wallets also come with on and off-ramping features for smoother fiat-to-crypto transfers and vice versa. Additionally, Business Wallets were designed to be straightforward, making it easy for anyone to use the dashboard regardless of previous experience.

Paybis has made sure to optimize the process that usually pains all businesses – onboarding. With our end-to-end managed in-house solution, we were able to cut back the verification process to less than 24 hours, making the onboarding and compliance steps a breeze.

Finally, we also provide instant access to deposits, withdrawals, or any other operations without restrictions on your business funds. This gives you total control over your operations and management.

Using Business Wallets

1. Buy, sell, and store cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and stablecoins (e.g., USDT, USDC) using different fiat currencies and payment methods.
2. Send and receive payments to business partners, contractors, or customers globally, with quick settlement times and lower transaction costs compared to traditional banking methods.
3. Global transaction capabilities to conduct transactions across multiple countries, with support for various local and international payment rails, ensuring flexibility in managing global operations.
4. Swap cryptocurrencies between different cryptos to diversify or rebalance your portfolio, ensuring maximum flexibility and efficiency.
5. Manage corporate treasury and crypto assets as part of a corporate treasury strategy, potentially hedging against inflation or using crypto for investment purposes.

Key Benefits of Business Wallets

This product was created to be easily and quickly integrated with any business workflow. All an interested business needs to do is fill out a form, and go through automated onboarding and compliance processes to start crypto operations. Once you’ve successfully onboarded, you’ll have access to:

• Global reach. Business Wallets are available in more than 141 countries worldwide and 38 US states.
• Strong fiat currency support. Choose between +25 fiat currencies to process crypto transactions.
• Access to 4+ popular payment methods. Business Wallets allow you to choose between SEPA, Instant SEPA, Faster Payments, and SWIFT Wire.
• No FX fees. If you choose Paybis’ OTC Desk & Business Wallets for your business, you’ll be able to enjoy zero FX fees.
• Flexible tiered pricing. We care about your business, that’s why Business Wallets are built to scale with your business needs.
• Top-tier security. Set authorization policies to protect your wallet from hacks or unauthorized access.
• KYC & AML compliance. We take extra care to ensure compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) policies.
• Dedicated 24/7 support. Once you sign a contract with Paybis, you’ll be assigned a dedicated account manager available around the clock via Telegram, WhatsApp, or chat.
• Minimalistic and easy-to-navigate platform. We applied the best user interface (UI) and user experience (UX) practices to create a seamless platform anyone can use.

Summing Up

Whether you’re operating a big corporate business or a smaller one, every enterprise can benefit from including cryptocurrencies in their processes. From payouts to modified bonus systems and even expanded retirement plans, cryptocurrencies offer unprecedented flexibility and reach.

Paybis is here to help you reach your business goals and make cryptocurrency integrations easy and hassle-free. If you’re interested in learning more about OTC Desk & Business Wallets, contact our sales department and let us walk you through the potential benefits Paybis can bring to your business.

Written by

Alanta Kaminskaite

Alanta is a tech content writer with over four years of experience and a deep passion for everything technology-related. She's worked in global IT companies and specializes in internet security, blockchain technologies, and AI advancements.