Skyline Digital makes TradFi accessible on Web3

Zug, Switzerland, February 7, 2024, Chainwire

The Swiss-based platform Skyline Digital enables Web3 companies, founders, and underbanked DAOs to access third-party fiat payments, OTC trades, tokenized real-world assets, vIBANs, and on/off ramping.

Web3 companies, DAOs, and high net worth individuals are underserved by traditional banks, while custodial and centralized crypto exchanges pose risks and unreliability. Skyline Digital is committed to solving these problems at the core of the Web3 business with its non-custodial platform that enables access to TradFi services directly from any wallet.

Switzerland is Skyline Digital’s crypto-friendly home base from where the company operates as a regulated financial intermediary and VASP. From there, Skyline Digital facilitates a variety of financial activities, including third-party payments, OTC trades, vIBANs, on- and off-ramping, and tokenized real-world assets such as U.S. Treasury bills.

Skyline Digital’s suite of services meets the needs of Web3 organizations, including business expenses, contractor payments or service provider transactions. So far, customers have used the platform for various types of transactions, including real estate investments, paying legal fees, purchasing a Tesla, and hiring contractors on a global scale.

By integrating the platform with Web3 liquidity providers and traditional financial institutions, it can act as a payment intermediary, handling exchanges and payments to and from all major stablecoins and fiat currencies (EUR, USD, CHF, GBP, SGD). Onboarding customers can process transactions directly through their Metamask, Safe, Ledger or other wallets, bypassing the intricacies associated with traditional banking intermediaries. Last month, the platform expanded integration to Polygon Mainnet, and now users can choose between that network and Ethereum.

“For Web3 professionals, the line between TradFi and DeFi remained virtually impenetrable. Connecting on-chain assets to the real world presented significant challenges, particularly for unincorporated DAOs as they do not have a legal entity. We can process individual and batch transactions directly from our customers’ Web3 wallets. The alternative is a cumbersome and costly combination of centralized exchange and banking transactions, all of which require custody of your assets and incur significant fees,” says Sebastião Queiroz e Mello, co-founder and CEO of Skyline Digital.

A special feature of Skyline Digital is its accessibility to the traditional investor market. Traditional investors can subscribe to Web3 fundraisers via bank transfer, without the need for a wallet or technical know-how.

Additionally, Skyline Digital for Web3 companies simplifies accounting reconciliation by providing detailed descriptions and tracking of on-chain and fiat payments.

Skyline Digital also offers free crypto-to-crypto bulk payments to its customers, unlike its competitors who charge up to $9,000 per year coupled with a 0.2% to 0.5% fee applied to each bulk payment will be charged. Skyline Digital charges 1% and $10 per fiat payment with no onboarding or monthly fees.

The platform went live in early 2023 and also provides its Rails via the API. At the same time, it works with partners to make it accessible through key Web3 infrastructure tools and platforms. This year Skyline Digital will introduce new TradFi and DeFi features such as: B. Billing functions, cards and loans. To date, Skyline serves some of the most prominent DAOs and companies in the industry.

About Skyline Digital

Skyline Digital is a non-custodial solution that opens the doors of TradFi to Web3 companies, founders and DAOs.

Official website | Linkedin | Twitter | telegram


Cintia Costa
Skyline Digital AG

Source link