Cryptocurrency projects are never short on ambition. To be in the new frontier of digital currency and blockchain technology a higher echelon of fortitude is required to deal with concepts of regulations, roadblocks, working software, and funding. As great as these challenges are for burgeoning blockchain projects, another challenge lingers just as strong – that of adoption. When it comes to the issue of adoption, it is not that users and businesses do not wish to use the products and services provided by blockchain projects. In reality, the friction and difficulties occur in actually using the utility associated with the project.
Currently, the fastest way to gain access to a utility token of the desired project is to go through an exchange that lists the project’s particular coin or token. The steps vary but generally start with buying Bitcoin or Ethereum then lead to signing up for a new exchange, setting up KYC and 2FA, transferring the BTC/ETH to the exchange, buying the project coin/token with that Bitcoin or Ethereum, then withdrawing that utility to an external wallet associated with that project. This process can be longer or more complex if the token is more illiquid, requires extra KYC, or the exchange isn’t available in your region. One video that parodies this is the “Dawn of the Dapps” initiative by Mainframe which shows a satirical view of how this has been a reality.
Eterbase, the premier European exchange with a host of features up its sleeve, has created a solution for this – the Treasury Gateway.
Eterbase Treasury Gateway: The B2B Solution
The Eterbase Treasury Gateway, one of the foundational features of Eterbase, is an Enterprise level solution that tackles problems associated with utility adoption and creates a smooth pathway for outside users and businesses to operate. While reducing friction and providing easier access to the utility of blockchain projects, the Treasury Gateway also allows businesses to operate more effectively, increases the integrity of the process, and reducing costs.
How It Works
The process is simple for a blockchain project to join the Eterbase Treasury Gateway. After a brief questionnaire, projects simply need to apply for a corporate payment account through Majestic.eu. Majestic.eu is a payment institution and electronic money institution license of the Majestic Financial UAB, and is the general payment provider of Eterbase.
Next, the project must purchase and lock 1 million XBASE or XBASE-B tokens as a direct buy from the market, taking them out of the circulating supply. In addition to this, they also provide $7,500 of their own tokens as incentives for Eterbase Premium Members. These tokens will be airdropped to Premium Members over the following weeks to incentivize users to trade.
After this is verified and approved, the project will also get a listing on the Eterbase Exchange and free liquidity provision.
The end result is that the blockchain project has a crypto-friendly corporate account allowing them to invoice their clients and take a fiat payment for their services. This means their clients are also happy since barriers to entry have been greatly reduced and they may now access a project’s utility and services using standard banking methods.
Once the client has paid with fiat this will show up in the blockchain project’s Corporate account. With just one click these funds can then be sent to the project’s own EUR IBAN account at the Eterbase Exchange, allowing them to buy the tokens on the client’s behalf and then distribute those tokens either to a burn address or to the projects reserve fund as per their tokenomics.
The whole process is fast, cost-effective, and 100% transparent. It removes the adoption barrier that has for so long been a stumbling block to the industry.
There are many advantages for blockchain projects to use the Treasury Gateway solution.
- The process of joining the Treasury Gateway is very straightforward by applying for two accounts, while other business is conducted as normal with the use of EUR IBAN accounts.
- The program saves on time and money, getting access to clients in a friendly way at a fraction of the cost of exchange listings that tend to be ineffective at client adoption. The Treasury Gateway also provides an opportunity for cross-marketing as the Project-Eterbase partnership helps establish fortitude for the community. Liquidity is also established by the liquidity provider to help with the project’s daily volume.
- The Treasury Gateway provides transparency of the process which shows the operation to the community. This helps build trust with their users as there have often been issues with transparency and trust surrounding exchanges in the past.
- Finally, the project also benefits by being a Premium Member which allows them to take advantage of services like negative fees.
The Treasury Gateway solution from Eterbase drastically lowers barriers to entry that have plagued the blockchain industry from the start. It is easy to join, affordable, and simple to set up for blockchain projects. Eterbase’s exchange integration with EUR IBAN accounts makes the B2B onboarding process easier, more transparent, and more accessible than ever before and paves the way for industry adoption at large.
If you are a project that deals B2B and is looking for a payment solution along with a free listing on one of the most exciting exchanges of 2020 you can apply directly by emailing email@example.com
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