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The Rise of High-risk Businesses – How Fintech and Cryptocurrency Have Come To the Rescue




The internet has radically changed commerce and opportunities for entrepreneurs and small and medium enterprises (SMEs) globally. The ability for smaller merchants and businesses to operate internationally has been a game-changer. However, numerous payment problems have arisen resulting from the rapidity of the change, and financial services are struggling to keep up.

Legacy infrastructure is holding back business

It is frustrating for many SMEs that they can now operate across borders, but legacy banking infrastructure often labels smaller businesses as ‘high-risk’. This can make transactions difficult, risky, slow, and expensive.

For example, a business receiving an international payment will probably use SWIFT and won’t receive the money for between one and five days, on average. There is no transparency in the process, there will be fees attached and, probably, an unfavorable exchange rate.

Then there are the risks for the merchant that arise from credit card fraud. The recent 2021 Chargeback Field report found that between 2018 and 2021, there was a 21 percent increase in criminal fraud.

There are solutions available for P2P transactions and larger companies, but SMEs have been largely excluded. As smaller businesses often operate on very tight margins, this is holding back a lot of enterprises. Fortunately, solutions have been appearing thanks to nimbler fintech companies, innovative new platforms, and the adoption of cryptocurrencies.

High-risk SMEs and cross-border transactions are on the rise

Companies are generally labelled ‘high risk’ for a couple of reasons. First, the type of industry is one of the broader and often more arbitrary ones. These can include online pharmacies, VoIP providers, and even subscription services to things like magazines.

Some industries deemed high risk are vast. The online gaming industry, for example, was worth US$37.65 billion in 2019 and is expected to be worth US$122.05 billion in 2025. Cryptocurrencies and related businesses are similarly deemed risky, yet Bitcoin alone is valued at $1.03 trillion (as of 26th November 2021).

Secondly, SMEs are frequently labeled high risk as they tend to have low sales and transaction volumes. Also, smaller companies operating outside of wealthier countries or blocks – such as the US, Canada, Japan, Australia, and the EU – are grouped into this ‘risky’ category. However, this is incredibly limiting, especially given that SMEs account for 90% of all businesses worldwide.

The internet is still expanding, and smaller merchants are suddenly able to reach global markets. Unfortunately, the legacy banking infrastructure has fallen behind in how it labels risk and penalizes SMEs making cross-border transactions. However, fintech is finding solutions, and the banks are being forced to play catchup.

Cryptocurrencies solve the main problems with traditional banking systems

Ironically, given its frequent labelling as ‘high risk’, it seems that cryptocurrency might be a solution. Fintech companies like XanPool, and its platform XanPay, have developed infrastructures that bypass legacy banking networks.

XanPool’s founder and CEO, Jeffery Liu, explains how his company’s cross-border payment solution came about. “As an entrepreneur, I am also on the lookout for problems people are having, and I then set out to try and provide a solution,” he says.

“XanPool was founded in 2019 because there was a problem onboarding and offboarding from fiat currencies to crypto. The issue was that to buy and sell crypto with local currency, you had to go through the legacy banking infrastructure with all its fees, delays, and risks. Given that Bitcoin was invented to bypass traditional systems, the situation was crazy. So, we designed a way around that.”

XanPool is essentially a market-making software that lets buyers and sellers – liquidity providers – trade crypto using various digital wallets or bank accounts. “We have cryptocurrency and a network of local currency liquidity providers that allows users to bypass traditional banking systems. This means they can also avoid the extra fees and exchange rate problems and, as transactions are instant, there aren’t days of delays and risks of chargebacks and fraud,” Liu says.

Once XanPool was up and running, Liu saw another problem that could be fixed. By leveraging XanPool’s existing cryptocurrency and liquidity pool, cross-border payments could also bypass traditional international banking infrastructure.

SMEs had been left behind, but that is changing

“We knew SMEs had been largely ignored by the banking system, with regards to making international payments. This was especially true in countries and industry sectors that established finance deemed risky. This includes most online businesses and nearly all of the Asia Pacific region countries,” Liu says.

Given that there are an estimated 213 million SMEs globally and almost 132 million of them are in the Asia Pacific region, there are a lot of enterprises being deemed ‘high risk’ and excluded from easy cross-border transactions.

“To solve this problem, we created XanPay,” Liu explains. “It’s a payment platform that every high-risk business from SMEs to eSports can use. As it works with local existing payment platforms, it is straightforward to implement and use. Furthermore, because it is built on XanPool’s infrastructure, these enterprises benefit from instant international payments with no risk of chargebacks or credit fraud. Having transactions that are 40 per cent cheaper and are instant decreases the risk that got them penalized in the first place.”

The advantage of fintech solutions like XanPay is that they were able to start with a fresh slate. Banks are struggling to adapt their systems and make them more efficient, but newer companies can start from scratch and incorporate advances like eWallets and cryptocurrency.

As more SMEs in developing countries move online, the number of businesses labeled ‘risky’ will continue to rise. Even a few years ago, this was a significant issue. Now, thankfully, there are several fintech solutions – and if the banks don’t catch up, they will be left behind.

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SkyLaunch Collaborating with Polygon to Join its Ecosystem



Ethereum Killer Polygon Races to Hit New ATH Soon

SkyLaunch has recently announced that they will be working on a mutually beneficial partnership with Polygon in the quest for achieving future improvements. Further, they mentioned that collaboration with Polygon means adding a new Blockchain to their growth plan. Moving ahead, they also said that Polygon low fees and lightning-fast transactions have made it popular within a short period. Therefore, people who will be choosing Blockchain for their projects will need launchpads too. This will eventually help SkyLaunch in exposure and grow further.

Moreover, there are two key contributors to SkyLaunch’s growth vertical over the years. Besides Binance Smart Chain, another useful platform SkyLaunch depends on is Polygon. The Polygon blockchain is a profitable Ethereum-centric network with high-profit potential and secure connection, offering users a smoother crypto trading experience. After incorporating Polygon into the SkyLaunch launchpad, experts opine that the latter would become one of the most reliable multi-chain launchpads in the future. 

High levels of profits with the collaboration 

Reports show that partnering with Polygon opens the team of the SkyLaunch to multiple project-related benefits as well. This would grant full access to the Polygon ecosystem, allowing SkyLaunch to explore and cement their position well. 

Polygon is one of the most sought-after blockchains in the current period because of its low-cost fees, simple usability, and precision-rich transaction speed. As a result, a lot of crypto projects are turning to this ecosystem to expand their reach and develop.

They want a top-grade launchpad as well to deploy the projects afterwards. Therefore, SkyLaunch expects to develop further through its partnership with Polygon, getting high numbers of projects. 

About SkyLaunch 

SkyLaunch is one of the most useful IDO-centric launchpad platforms available. It promises the users total timeline support with their projects and offers multiple proprietary tools to the project holders. In addition, SkyLaunch is unique in its operation and holds the support of a proprietary guide for introducing different upgraded versions into crypto-trading through blockchains.

To note, SkyLaunch does not keep several restrictions for the users. This helps traders complete their transactions, build their IDO projects, and deploy them across multiple blockchains without any complications. 

There is a standardised accelerator program with pre-IDO services that work with an industry-leading independent governance council. There is a post-IDO network for alliance support available as well. Traders creating and growing their blockchain projects benefit highly through SkyLaunch support. 

About Polygon

Polygon is a framework and valuable protocol for linking and developing Ethereum-based blockchain networks. It is the first platform to focus on infrastructure development and scaling of Ethereum. Furthermore, the blockchain is user-friendly, highly structured, and includes the Polygon SDK. Therefore, this framework is helpful for different types of app development initiatives. 

Not only does Polygon work as a blockchain in its own right, but users can also create or link several blockchains through it. As a result, it has some similarities with other blockchain solutions like Polkadot and Avalanche. 

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Ethereum Ranks Second as the Most Owned Crypto in UK, Bitcoin First!



Ethereum Ranked Second as the Most Owned Crypto in UK, Bitcoin First!
  • It is estimated that 32.9 percent of UK crypto owners possess Ethereum.
  • 2,013 internet users in the United Kingdom were polled.

Late in 2021, the cryptocurrency market was very volatile and experienced a drastic shift from extremes in the bigger market. Crypto users in the United Kingdom seemed to be taking it slowly throughout the recent sell-offs and feverish market periods. With 2,013 internet users in the United Kingdom being polled, came up with various findings.

The UK’s crypto community appears to have rekindled its enthusiasm for Ethereum, despite a lack of interest and acceptance in other cryptocurrencies. It is estimated that 32.9 percent of UK crypto owners possess Ethereum, putting it in the second position in terms of crypto ownership after only Bitcoin.

Read More: Bitcoin Price Prediction

Read More: Ethereum Price Prediction

Crypto Adoption Rate At a Mere 1%

There was an increase in the percentage of people owning cryptocurrencies from 11.2% to 15.5% last year, although, in certain countries, this rise was stifled. When comparing the two polls, the United Kingdom had one of the fewest increases in crypto holdings, moving from 5.2% to 6.1%, with a modest 1% increase in that time frame.

UK crypto ownership is much lower than the worldwide average of 15.5%, according to an ongoing poll of Internet users in 27 nations. With only 17 percent of respondents saying they believe crypto is an excellent investment, Britain was rated 23rd out of 23 nations in November 2021 for favorable opinions towards cryptocurrencies.

Despite the glimmering figures on ETH, Bitcoin remains the most popular cryptocurrency, owned by 42.8% of those who own digital assets. Third place went to Ripple, with 17.4 percent, followed by Solana with 15%, while Dogecoin only had a 1% gain.

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DeFi Data Network Unmarshal Doubles Down on Solana, Signs Key Advisor



DeFi Data Network Unmarshal Doubles Down on Solana, Signs Key Advisor

Bangalore, India, 17th January, 2022, Chainwire

since its launch in 2021, Unmarshal” rel=”nofollow noopener” target=”_blank”>Unmarshal has continued to look for ways to improve its ecosystem to provide the best services to existing blockchains. Now in 2022, the DeFi network has added a key advisor, Brian D. Evans” rel=”nofollow noopener” target=”_blank”>Brian D. Evans, to the team to strengthen the protocol. 

Brian D. Evans is an Inc. 500 Entrepreneur, Forbes top digital marketer, investor, and blockchain/crypto industry veteran. With his wealth of experience and connections, Evans, who is also a Founder of ReBlock Ventures” rel=”nofollow noopener” target=”_blank”>ReBlock Ventures alongside Kenn.eth” rel=”nofollow noopener” target=”_blank”>Kenn.eth boasts almost 1 million followers on his Twitter” rel=”nofollow noopener” target=”_blank”>his Twitter. Evans and ReBlock will help Unmarshal become industry dominant by suggesting key initiatives, and connecting high level players. 

Speaking on the appointment, Evans said “They’ve managed to recruit top development talent, I can see this platform doing very well. I’m excited to open up my Rolodex and help them achieve large scale industry adoption.”

Unmarshal Boosts Its Query Mechanism for Apps on Solana

Aside from signing Evans, the multi-chain DeFi data network is strengthening its querying support for decentralized applications built using Solana’s API. The added support will provide safe real-time data to DApps.

The Solana Network” rel=”nofollow noopener” target=”_blank”>Solana Network was one of the most deployed chains in 2021 due to its incredible throughput, ultra-low gas fees, and scalability. The chain can process over 50,000 transactions in a second, making it faster than all the blockchains in the industry. All these are made possible due to the network’s Proof of History and Proof of Stake consensus mechanisms. 

The chain hosts over 1000 decentralized apps, including decentralized exchanges, GameFi projects, and NFT marketplaces. The trilemma – speed, scalability, and security led to the growth of the blockchain and its native cryptocurrency SOL. 

With the chain agnostic solution improving its API for Solana, DApps can collect data effectively without creating codes. DeFi projects on Solana can work with our experts to form the correct data response and structure. The network’s data can also be queried. 

API Can Perform a Wide Range of Applications

Aside from enabling a rapid querying support system for DApps on Solana, Unmarshal will add Solana onto the platform’s block explorer The API will cater to a variety of use cases, such as NFTs, marketplaces, P2E gaming, and any other application on the Solana Network.

This API integration will allow the wallets to provide a clearer picture of token balances and the transfer history of the given asset and the entire wallet on the Solana chain. In addition, customers can get updated with instant alerts on any transactions that occur in their wallets. 

The integration with Solana will also allow wallets to fetch data about transaction hash, status, timestamp, and get details on assets listed on Solana, including their prices. Finally, the API integration will collect data of wallet NFT balances on the chain.

About Unmarshal

Unmarshal” rel=”nofollow noopener” target=”_blank”>Unmarshal is an agnostic chain solution launched in February, 2021. It’s a DeFi network that provides real-time data to dApps deployed on Solana, Binance Smart Chain, Polkadot, Ethereum, and so on. They are making moves to empower DApps on several Layer2 networks to have access to reliable on-chain data. The DeFi protocol offers convenient methods to query network data from supported chains and comprises powerful tools to support DeFi apps on any blockchain.



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