White Label “Crypto Wallet” lvl.2 is a more advanced version for companies that want to offer their users not only the functionality of storing cryptocurrencies, but also the exchange of cryptocurrencies. This solution is ideal for more mature projects or companies that want to expand their services and provide users with additional opportunities to work with digital assets. At the lvl.2 level, the functionality for exchanging cryptocurrencies is added, which allows users to make transactions and exchange their assets within the system. This package includes more flexible options for scaling and expanding a business, as well as increased requirements for security and compliance.
For the lvl.2 level, a license is provided that allows not only storing cryptocurrencies, but also exchanging between cryptocurrencies. This package expands the capabilities of the previous level by providing licenses for working with several cryptocurrencies (for example, exchanging BTC to ETH, LTC to BTC, and other pairs).
Advantages:
Cryptocurrency exchange operations within one wallet.
License to work with various cryptocurrencies, which allows us to provide more diverse services.
Expand your business by providing new opportunities for your users.
Restrictions:
The package does not include work with fiat currencies (for example, the ability to exchange cryptocurrencies for fiat money or use bank cards to top up an account).
As in the previous package, the inclusion of a compliance specialist to prevent money laundering (AML officer) is provided here. However, for lvl.2, the need for this specialist increases, since with the addition of cryptocurrency exchange, the number of transactions and the risk of illegal transactions increases.
AML Officer Responsibilities:
Monitoring transactions for suspicious transactions.
Reporting to comply with international anti-money laundering standards.
Developing procedures to improve internal control.
Advantages:
Provides reliable protection against illegal transactions, increasing trust in the platform.
Support compliance with international and local anti-money laundering regulations.
At lvl.2, the wallet software gains advanced features, including support for cryptocurrency exchange. Users can not only store their digital assets, but also exchange them at market rates or through internal liquidity pools.
Software functions:
Support for cryptocurrency exchange (eg BTC to ETH).
Simple and convenient panel for making transactions.
Possibility of integration with cryptocurrency markets and buy/sell orders.
Enhanced security mechanisms to protect against potential leaks or hacks.
Advantages:
Increased convenience for users: they can not only store cryptocurrencies, but also exchange them directly in the wallet.
Support for multiple cryptocurrency pairs.
Easy to integrate with other cryptocurrency exchanges and platforms.
As with the lvl.1 package, the lvl.2 level provides the service of appointing a company director who will be responsible for the legal registration, regulation and management of the platform.
Duties of the Director:
Taking into account legal requirements in new operations such as cryptocurrency exchange.
Registration with the relevant regulatory authorities and interaction with them.
Managing a team and maintaining corporate structure.
Advantages: The director helps in organizing the company taking into account expanded opportunities and ensuring complete legal purity of operations.
White Label lvl.2 allows you to integrate payment gateways to accept cryptocurrency payments, and also provides the ability to use APIs to integrate with external platforms. This allows you to add additional features such as connections to other services or platforms for exchanging cryptocurrencies.
Advantages:
Connecting external services to integrate and expand the functionality of the wallet.
Opportunities for quick connection to cryptocurrency markets and exchangers.
Cryptocurrency exchange: The lvl.2 package allows you to add cryptocurrency exchange functionality, allowing your users to quickly and conveniently exchange various digital assets without having to leave the platform.
Increased security: Enabling more sophisticated security methods such as two-factor authentication and using encryption to keep users' funds secure.
Scalability: The package offers additional opportunities for the growth of your cryptocurrency business, as it includes a more complex infrastructure and allows you to integrate additional services.
No work with fiat money: The lvl.2 package does not include the ability to work with fiat currencies (for example, exchanging cryptocurrencies for money or replenishing an account using bank cards).
Need for more sophisticated technical support: Since the package includes cryptocurrency exchange, it is important to ensure the stable and secure operation of the software, which requires a qualified technical team.
Medium technical resources: The lvl.2 package requires a more complex infrastructure to support cryptocurrency exchange. This will require setting up servers and ensuring smooth operation.
Legal training: The package includes extensive legal requirements, so it is important to ensure full compliance with cryptocurrency legislation and AML policies.
How does White Label “Crypto Wallet” lvl.2 work:
Registration and licensing: At this stage, the company receives licenses to conduct exchange operations and also prepares for the integration of cryptocurrency exchange functionality.
Setting up a wallet with cryptocurrency exchange: The software is being configured to support multiple cryptocurrencies and an exchange mechanism is being implemented to allow users to exchange their assets.
AML Officer and Compliance: Inclusion of a compliance officer who will monitor transactions, identify suspicious transactions and ensure compliance with legislation.
Launch of the platform: Once all components are set up and integrated, the platform is ready to launch and provide users with the ability to exchange cryptocurrencies.
