Token2049: Our thoughts and takeaways from this year’s event

A huge thank you to the organisers of a fantastic Token2049. At OpenPayd, we power some of the largest digital asset businesses around the world, so catching up with our clients and meeting new faces was something we were all really looking forward to. 

We went to learn more about what the industry needs from their banking and payments infrastructure providers, and after countless meetings and conversations, as well as Iana’s fireside chat hosted with Bitstamp’s Bobby Zagotta, certain key themes kept reappearing. 

Below we outline our key takeaways from the event, and what the payments industry can do moving forwards to ensure the continued growth of digital asset businesses. 

Finding crypto-friendly payment and banking partners remains to be a challenge

Many of the conversations we had with business leaders featured the fact that finding a reliable partner for their fiat payment and banking services was a challenge. Finding one that had the best-in-class technology and licensing infrastructure was an even bigger challenge. 

This wasn’t new information to us, this has been happening since we first started working within the industry. What was surprising, however, was the scale at which this was still occuring. 

This is one of the key reasons OpenPayd is today the partner of choice for the majority of leading providers. Many businesses are still searching for a partner that they can rely on to help them scale – equipped with both the tech required to keep payments real-time, and the licensing network to facilitate expansion into new territories. 

Offering multiple fiat payment options is becoming a requirement 

Digital Asset businesses are becoming more and more aware that customers around the world have many different payment preferences. They want to meet consumer demands, but are often limited by what their payment services provider can offer them. 

Open Banking was a hot topic at this year’s event, which can not only keep the entire payment journey within a business’s site/app, but also make fiat transactions faster and cheaper. We’re pleased to be able to offer Open Banking to our crypto clients as well as several other payment options, but Token2049 has only further encouraged us to keep building out our payment capabilities.

What our clients like most – the tech doesn’t let you down

As well as meeting new businesses, we also got the chance to catch up with a lot of our existing clients at Token2049. We spoke about their roadmaps and how we could best support them in their next stage of growth, but also took the opportunity to get feedback on what we’re currently providing. 

The predominant comment that stuck out was that they felt they could rely on our tech. We work with a lot of C2B crypto businesses and provide them with millions of virtual IBANs which are assigned to each end customer, and we were repeatedly told they were impressed at how robust yet easy to use this solution is. 

We support some of the biggest crypto exchanges operating today, so to have that validation made us extremely proud of the work our tech and product teams have done to get us where we are today.