“As the cryptocurrency summer approaches, we will see an increase in projects driving adoption in the non-financial sector,” said Vault founder Vladimir Gorbunov.
Vladimir Gorbunov, founder of full-cycle digital/crypto banking white label product Vault, navigated the complexities of the rapidly evolving fintech sector and outlined both the forces driving growth and the future ahead..
Today’s fintech industry is seeing a huge trend of traditional companies turning their attention to cryptocurrencies. Gorbunov said the first step in this transformation was the incredible expansion of the cryptocurrency market audience.
“In 2017, we had about 10 million active users. Now we’re looking at almost $500 million.” He said this, emphasizing the magnetic force this growth has on companies other than cryptocurrencies. “Public interest is especially evident during growth periods such as the upcoming cryptocurrency summer, which is filled with monetization potential and the novelty of the products and services offered.”
According to Gorbunov, the burgeoning user base is forcing traditional financial institutions to integrate cryptocurrency solutions, a move further fueled by the modernity, innovation and flexibility these technologies represent.
“It provides access to international capital, asset tokenization opportunities, decentralized insurance, as well as full fund and institutional launches. This is a vast and unexplored niche with enormous potential.” he said
Delving deeper, Gorbunov illuminated the subtle motivations behind the shift to digital/crypto banking.
“But this isn’t just about opening up new markets.” he explained. “It’s important to retain and develop your existing audience.” According to Gorbunov, this strategic shift goes beyond simply responding to market trends. This represents an important step toward remaining relevant in an increasingly digital economy.
Making cryptocurrencies accessible beyond the tech-savvy
Given that more and more retail and institutional investors are jumping into cryptocurrencies, driven by profits and technological innovation, the pace of mass adoption is expected to accelerate. However, Gorbunov said the current infrastructure, limited mainly to sophisticated cryptocurrency banks, still alienates a wider audience, leading to a gap in awareness and trust.
Therefore, his vision for mainstream cryptocurrencies focuses on accessibility and understanding.
“Closing this gap” he suggested, “It is now in the hands of traditional banks and fintech companies to start offering cryptocurrency services. But before that, they need to adjust cryptocurrency products they have no knowledge of, test market demand, and ensure safe operations.”
Financial institutions, banks, and fintech startups are integrating cryptocurrency solutions to expand their capabilities. However, Gorbunov cautioned that this process is much more complicated than simply adding a cryptocurrency wallet or exchange function.
In his story, companies like Vault emerge to speed things up and give fintechs the tools to quickly deploy crypto solutions to expand their use cases. In the context of mass adoption, Vault breaks down barriers for a variety of businesses venturing into digital/crypto banking.
“We are seeing rapid change with influencers, bloggers, media, dating services and other non-financial sectors eagerly building digital/crypto solutions.” Gorbunov said, emphasizing the democratization of financial services.
He then noted that for businesses in the non-financial sector, incorporating cryptocurrency solutions opens up new ways to generate revenue. “But it’s not about making money anymore.” Gorbunov added.
“With digital/crypto banking capabilities now accessible through a variety of API products, modern businesses and entrepreneurs can easily customize their products and strengthen their relationships with customers through customized services such as branded bank cards that can be recharged with cryptocurrency. It can be strengthened.” He clarified. “Plus, we can serve customers all over the world, which is not possible with traditional banks whose operations are limited to their licensed countries.”
Looking at adoption from a different angle, Gorbunov noted that cryptocurrency/digital banking infrastructure providers can attract new customers by encouraging users to promote their solutions with the company.
“For example, Vault relies on the infrastructure of Choise.com, a B2C platform that has onboarded nearly 1 million users as an accessible entry point to cryptocurrency. Many of them have become holders of the native CHO token. And when we saw this, we sat down and thought about it. possible changes “The token economics of the project will not only benefit existing supporters but also encourage new people to explore the cryptocurrency domain, which is full of endless earning potential.” He admitted.
From unregulated freedom to global adoption and compliance
The conversation then turned to a global perspective, with Gorbunov looking for regions that are fertile for digital/crypto banking. He highlighted that there is a significant surge in demand in regions traditionally underserved by traditional banks and fiat products, such as Latin America, Africa and certain Asian markets such as the Philippines.
He emphasized that interest is also important in strong banking regions such as Europe. “We expect further expansion of this area in the coming years. There will be no specific regional focus as the demand for digital/crypto banking becomes truly global.”
Gorbunov also spoke about the international legal environment that underlies the gradual maturation of the cryptocurrency market, which is changing towards transparency and compliance. “There was an initial attraction to the unregulated nature of cryptocurrencies and their greater freedom to operate. “But it was clear from the beginning that this lack of government control would not last.” he pointed out.
In fact, centralized cryptocurrency markets are already highly regulated in many countries with KYC (Know Your Customer) and AML (Anti-Money Laundering) verifications. Central banks, on the other hand, often oversee the licensing of virtual asset service providers. And going forward, Gorbunov expects regulatory stringency to increase even further, although Gorbunov sees these potential investigations as a catalyst for sustainable growth and integrity of the sector rather than a constraint.
“In fact, the core values of cryptocurrencies, such as tokenization and value transfer, will essentially remain.” Gorbunov explained in detail: “And for companies with good intentions, increased regulation is beneficial because it establishes clear and transparent rules for all market participants.”
However, one challenge still lies in regulating decentralized services. Gorbunov acknowledged that many people are flocking to cryptocurrencies to avoid third-party oversight of their financial operations. Nonetheless, he had a firm belief that the market would adapt to the DeFi and Web3 sectors.
“There are solutions like zero-knowledge protocols that maintain some privacy while ensuring the transparency needed by regulators.” he commented.
The future of secure, user-centric digital banking
When asked about the obstacles facing Vault and other B2B2C companies offering cryptocurrency-friendly banking infrastructure today, Gorbunov was candid about the costs of entry and licensing that remain onerous despite the emergence of some regulatory frameworks in certain regions. .
He also detailed the complexities of establishing trusted partnerships with card issuers and operating providers such as SWIFT and SEPA.
“The cryptocurrency market is no longer in its infancy, but is often met with skepticism due to suspicions of money laundering.” Gorbunov insisted. “We must constantly justify ourselves through gratitude and explanation. Finding a high-quality provider that integrates with you, understands the mix of cryptocurrency and fiat trading, and is willing to offer it to a broad audience, including external players, is a complex task that requires a lot of effort and investment.”
In his final thoughts, Gorbunov offered a glimpse into the future. “We are at a critical moment in the convergence of traditional and cryptocurrency finance.” he insisted.
Gorbunov envisions a world rich in tokenized assets and creative works, echoing another big cryptocurrency trend called “real-world assets” (RWA). In his view, the development of digital/crypto banking will be driven by a balanced blend of decentralized and centralized financial systems.
“It’s about giving control back to the people in a safe and user-friendly environment.” Gorbunov concluded.
Gorbunov’s insights provide greater clarity on the direction in which fintech, especially digital and cryptocurrency banking, will develop. Vault is a mix of innovation, adaptation, and breadth of scope that serves as a pioneer and leads the way toward a more inclusive and dynamic financial future. .