Over the past year, our team has heard time and again just how insanely difficult it is for businesses in the blockchain industry to accept payment in crypto. Even if they want to! Why is this so hard?
There's no denying that the entire crypto industry is born from the ashes of a broken, repressive, siloed financial system. Satoshi made sure that we'd get the point when he stamped The Times 03/Jan/2009 Chancellor on brink of second bailout for banks into the Bitcoin genesis block.
Is it any irony that the entire industry spawned from this genesis block is funded and operated on the very financial system he sought to overcome?
Now, the pragmatist in me understands why this is the case. We have bills to pay, mouths to feed, and until a company can pay a significant amount of their bills using crypto then why would they ever operate a business on it? Even Gilded, an international team with employees ready and willing to adopt crypto, is subject to these realities.
Meanwhile, there's been an incredible push over the last few years to make the banking system more open. Visa hammered this point home with the whopping $5 billion dollar purchase of Plaid just this month. But make no mistake: The traditional banking system will never be as open, inclusive, or efficient as one built on blockchain.
Here at Gilded, we're blazing a new path forward. A path that capitalizes on the tremendous innovation in the traditional financial world while opening the door to a new financial system powered by crypto and blockchain. One foot in each door, so to speak.
Gilded's New Path Forward
Our team went back to the drawing board to create a completely seamless B2B payment solution for businesses. One where you can accept both traditional payments (credit cards, wire transfers) and non-custodial crypto payments in one place. We're launching the full solution for a pilot customer in the next few weeks and making it available to the world soon after.
Now is the time to capitalize on the incredible momentum in the #DeFi movement, and on stablecoins in particular, to offer a way for businesses to seamlessly integrate cryptocurrency into their existing business systems.
For the first time, a business can take advantage of the benefits of crypto (global access, fast settlement, lower fees, etc.) while minimizing the parts of crypto that make it nearly impossible to adopt today (e.g. difficulty of use, volatility.) Gilded has created an end-to-end solution from invoicing to payments, bookkeeping, accounting, and tax reporting.
Gilded is your Open Finance Platform because we're powered by blockchain to make us uniquely global and accessible like no other financial product before. However, Open Finance isn't mutually exclusive. For now, businesses still need to operate in the traditional financial world. That's why we're offering payment options like credit card and wire transfers so that any company can #OptIntoOpenFinance.
What does Open Finance mean today? It's about giving customers a choice in how to pay. It's about giving blockchain businesses the opportunity to put their money where their mouth is. It's about taking personal responsibility to drive the #MassAdoption we all seek.
Here are three ways that you can dive in today:
- Send a Gilded invoice and enable both credit card and crypto payment options
In less than ten minutes, you can connect your Stripe account (for credit card payments) and Bitcoin or Ethereum wallet (for crypto payments) to offer your customers more payment choices. And here's the cool part: We never touch your assets or charge any processing fees. Sign up here.
- Ask your international contractors to invoice you with Gilded
Compared to international wire transfers, crypto payments are ten times cheaper, faster, and more transparent. With Gilded, the process of sending and receiving payment in crypto is easier than ever. Now is the time to take the plunge.
- Send us feedback
What will it take for your business to opt into Open Finance? We'd love to hear from you. The better we understand your needs and concerns, the more effectively we can craft a solution that helps you make a direct impact on crypto adoption.