Web3
Boost your Web3 platform’s efficiency with open banking and blockchain, delivering instant, secure, compliant, and cost-effective payments.
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How Yugo Leverages Open Banking to Enable the Rise of Web3
As the digital economy continues to evolve, Web3 is reshaping how individuals and businesses interact online, prioritizing decentralization, user control, and direct asset ownership. However, bridging the gap between traditional financial systems and blockchain networks is a critical challenge, especially when it comes to providing seamless, efficient, and compliant transactions.
Yugo, a cutting-edge financial technology company, addresses this challenge through an all-in-one solution that combines open banking and blockchain technology. By leveraging open banking, Yugo offers instant, secure, and cost-effective on-ramp and off-ramp solutions, which are essential for seamless Web3 adoption.
Problem
Despite the growth of Web3, many platforms struggle to provide users with efficient ways to convert fiat currency into digital assets and vice versa. Improving this process allows users to access services faster and more seamlessly. Traditional payment rails such as bank and card payments are often slow, costly, and lack the flexibility required for modern digital transactions. Additionally, compliance with regulatory standards such as AML and KYC can be cumbersome when bridging conventional finance with blockchain.
Solution: Yugo’s Open Banking and Blockchain platform
Yugo dismantles the traditional card-based value chain by offering a technology platform built on open banking and blockchain. This innovative approach empowers Web3 platforms to enable their users to deposit and withdraw funds directly from and to their bank accounts instantly, with bank-grade security, ensuring safer and more cost-effective transactions: reduce costs by up to 3x.
On-Ramp
Yugo enables businesses to convert fiat currency into digital assets such as stablecoins through seamless bank transfers. By utilizing open banking, Yugo offers a streamlined process that eliminates the need for costly intermediaries.
- Instant Transactions: Real-time transfers through instant A2A payments and stablecoin compatibility.
- Enhanced Security: Enterprise-grade reliability with comprehensive compliance frameworks.
- Cost Efficiency: Up to 3x cost savings by avoiding traditional card network fees.
Off-Ramp
Yugo provides direct bank transfers for converting digital assets back to fiat. This feature ensures seamless withdrawals from Web3 platforms to users’ bank accounts.
- Direct Bank Transfers: Easy conversion of crypto to fiat with instant settlement.
- Seamless Integration: Pre-built widgets, SDKs, and APIs for smooth onboarding.
- Regulatory Compliance: Adherence to AML and KYC standards to ensure secure transactions.
Benefits for Businesses
- Speed: Users can now convert and deposit funds in seconds with no risk.
- Cost Savings: Reduced fees by eliminating intermediaries and chargebacks.
- Scalability: Yugo’s payment solution enables businesses to reach new markets by connecting with 2,395 banks across 29 EU countries.
- Security: High-level encryption and authentication protocols ensure a risk-free, frictionless process.
