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.
Table of contents
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
- Buy, sell, and store cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and stablecoins (e.g., USDT, USDC) using different fiat currencies and payment methods.
- Send and receive payments to business partners, contractors, or customers globally, with quick settlement times and lower transaction costs compared to traditional banking methods.
- Global transaction capabilities to conduct transactions across multiple countries, with support for various local and international payment rails, ensuring flexibility in managing global operations.
- Swap cryptocurrencies between different cryptos to diversify or rebalance your portfolio, ensuring maximum flexibility and efficiency.
- 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.
What Can Businesses Actually Do with a Business Wallet?
The core use case is straightforward: buy, hold, and move cryptocurrency without building crypto infrastructure in-house. But the day-to-day functionality goes further than that.
With a crypto wallet like Paybis Business Wallets, companies can transact across a broad range of assets and currencies from a single dashboard. That means buying BTC for treasury allocation, receiving stablecoin payments from partners, and sending payouts to contractors globally, all without switching between platforms.
A few specific things businesses use it for regularly:
- Buying major cryptocurrencies. Companies adding digital assets to their treasury can buy Ethereum and other supported cryptocurrencies using 25+ fiat currencies and four payment methods, including SEPA, Instant SEPA, Faster Payments, and SWIFT Wire.
- Selling when needed. Not every crypto holding is long-term. When it makes sense to convert back to fiat, whether for covering operating costs, payroll, or clearing a tax liability, the ability to sell Bitcoin quickly and at a competitive rate matters. Business Wallets handles this without routing through a third-party exchange.
- Off-ramping stablecoins. For businesses running payouts or holding USDT as a settlement asset, the ability to withdraw USDT to bank accounts directly keeps the fiat conversion process simple.
- Swapping between assets. Business needs change. An asset allocation that made sense during onboarding may need adjusting later. The swap functionality handles conversions between supported cryptocurrencies without leaving the platform.
The transaction limits run from $1,000 to $5,000,000 per transaction. That covers most business use cases from early-stage adoption to high-volume operations.
How Does Paybis Keep Business Wallet Transactions Secure and Compliant?
Security and compliance are often the two biggest blockers for businesses evaluating crypto infrastructure. A breach or a regulatory failure carries consequences that go well beyond the immediate financial loss.
Paybis Business Wallets address both on the infrastructure level rather than passing the responsibility to the business.
Private Key Security
Business Wallets are built on Multi-Party Computation (MPC) technology. The private key is never held in one place. Instead, it is split across multiple parties, so no single entity can compromise it. This removes the single point of failure that has historically been the most common attack vector for crypto theft.
Businesses can also set their own authorization policies within the wallet, adding a second layer of control over who can initiate or approve transactions.
Compliance
Every transaction runs through continuous monitoring and analysis under European VASP compliance standards. KYC and Anti-Money Laundering procedures are handled by Paybis, not left to the business to manage separately. All transactions meet AML protocols before processing.
For businesses operating across jurisdictions with different regulatory requirements, this matters. Compliance is baked into the infrastructure, not an add-on the finance team needs to audit manually.
Transparency
Paybis shows all transaction fees upfront. There are no hidden costs between what a business sees quoted and what it actually pays. That level of visibility is useful for finance teams reconciling crypto spend against budgets and reporting.
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.
FAQ
Why should I choose Paybis’ Business Wallets for my business needs?
Paybis is a trusted platform with extensive use cases and wide global reach. We offer some of the most competitive fees with a long list of available cryptocurrencies, and payment options.
Additionally, as our company grew, we now house a deeply knowledgeable technical development team and a dedicated compliance team to ensure integration success and adherence to the highest KYC and AML standards.
What are the fees associated with incorporating Paybis’ Business Wallets?
Paybis eliminates all foreign exchange fees that have long been considerable challenges for businesses dealing with cross-border payments.
We offer a tier-based fee structure for our services to suit the unique business needs of every B2B client. Plus, opening and maintaining the account is completely free of charge.
Plus, Paybis is fully transparent in displaying all the fees associated with the transaction to ensure that clients get exactly what they see and there are no other hidden costs.
How safe is Paybis for crypto management on a business level?
Our platform provides full transaction security with continuous monitoring and analysis, following strict AML protocols under European VASP compliance standards. Moreover, Business Wallets are built on Multi-Party Computation (MPC) technology, our solution offers unprecedented security for your Private Key.
It’s split among multiple parties, ensuring a single entity can’t compromise it.
Can Business Wallets handle large transactions?
With Paybis’ OTC Desk & Business Wallets, there’s only a $1000 to $5,000,000.00 per transaction limit, there are no other limits. This makes it a great option for small or big businesses that have varied levels of transaction volumes.
How long does it take to set up a Business Wallet?
Setting up a Paybis Business Wallet is quick and easy. After registering and completing the KYB process, most accounts are ready for use within 24 hours. Once verified, you can immediately start buying, selling, or managing cryptocurrencies without any delay.
What cryptocurrencies can businesses hold in a Business Wallet?
Business Wallets support Bitcoin (BTC), Ethereum (ETH), and major stablecoins including USDT and USDC, along with other supported assets. The range covers the cryptocurrencies most businesses use for treasury management, payroll, and payment acceptance. Businesses that need to hold or transact in specific assets can confirm current support with Paybis during onboarding. The platform supports both buying into holdings and converting out when needed, so asset management runs in both directions from the same account.
How long does onboarding take for Paybis Business Wallets?
Paybis targets an average onboarding completion time of 24 hours. The process covers KYC and AML documentation, transaction requirement discussions, and account setup. Most of the friction that slows down crypto onboarding with other providers comes from compliance handoffs and manual reviews. Paybis has structured its onboarding to move compliance review forward in the process, so businesses are not waiting on documentation reviews before setup can progress. For larger enterprises or more complex use cases, timelines may extend, but the 24-hour benchmark applies to the standard process.
Are Business Wallets available in all countries?
Business Wallets are available in more than 141 countries and 38 US states. The geographic coverage is broad enough for most cross-border use cases, including businesses operating across Europe, North America, and markets in Asia and Latin America. Availability in specific countries depends on local regulatory requirements, and some markets may have restrictions on certain transaction types. The platform supports 25+ fiat currencies, which extends usability in markets where local currency processing would otherwise require additional infrastructure.
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