So, we are building a b2b crypto payment protocol. For non-technical people, this phrase may be confusing, so in this article I’ll try to explain the YARD Finance use cases, why a business may need such a solution, who we see as our partners and clients, and what benefits our partners will get from implementing YARD.
So, let’s get started!
What is YARD again? It is an application-level protocol that facilitates the interaction between cryptocurrency applications and blockchain networks, enabling the sender to obtain, for any combination of the recipient’s phone number + the coin, the recipient’s address to which the funds can be sent. Put simply, YARD implements the business logic of convenient money transfer by a user to any of their contacts, doing so transparently, cost-effectively, and in compliance with regulatory requirements.
First, let’s make sure we understand which cryptocurrency businesses may be interested in our protocol and what it is for.
We provide secure and fast cryptocurrency transfers. What does this mean? We primarily see as our ideal customer persona all services for which cryptocurrency transactions – deposits, withdrawals, user-to-user transfers, swaps, etc. – are either a key or one of the main enabling processes. Our priority clients are wallets, exchanges, mining pools, and exchanges.
What is important for transactional business?
1. Well, the answer is obvious – first and foremost, increasing cryptocurrency usage and the number of transactions. What could be simpler than sending to your contact from your address book using their phone number?
2. Attracting new customers and reducing the entry barrier. Many applications, especially those with relatively high entry thresholds, such as DeFi and cross-chain bridges, can be challenging even for experienced users, let alone newcomers to crypto. Using a phone number as the address for transferring crypto significantly simplifies the onboarding process for newcomers in the cryptocurrency ecosystem. In web2, sending money via phone number through various banking or payment apps is standard practice, so using this pattern for cryptocurrency will be natural for novices.
3. Increasing the loyalty of existing users. It’s no secret that many users use multiple cryptocurrency wallets, for example, for different coins or purposes – HODLing, ICO/IDO/IEO, etc. In addition, despite the increase in cryptocurrency thefts, most users prefer the convenience over security (e.g., cold wallets are simply not convenient for daily operations). Adding such a unique and convenient feature to your cryptocurrency app as sending by phone number can lead to increased interest in the app, trust, transactional activity, and, as a result, increased revenue.
4. Last but not least on the list – financially, by integrating YARD, partners can earn up to 0.2% of the transaction volume from their users additionally.
Want more potential YARD use cases? Boom!
- Payment for goods and services: use YARD to enhance the online shopping experience, we make the whole payment process quick and secure. Tipping in crypto? Couldn’t be easier!
- Sell globally: Accept payment in crypto, even if your customers do not have bank accounts, especially in emerging markets. And yes – it’s way cheaper than fiat payments.
- Hire globally: implement crypto payroll to enable salary payments in Bitcoin, Ethereum or any other major crypto by phone number, no matter where your employees are in the world.
- Charitable donations: YARD allows quick and transparent donations worldwide. This makes the fundraising process simpler, more convenient and transparent for all participants.
TLDR:
- Are you a wallet? Stand out from the competitors with a unique product offering and boost revenue by leveraging existing and new user base.
- Are you an exchange? Remove support headache from inquiries about sending to incorrect addresses.
- Are you a mining pool? Enhance attractiveness by expanding the range of fund withdrawals.
- Are you in the cryptocurrency business? Pay salaries in crypto and accept payments worldwide.
- Are you a user? Enjoy the convenience of sending cryptocurrency to your contacts with an additional layer of privacy.
In each of these cases, YARD offers a simple and secure way to send cryptocurrency via phone number (or any other handle), while ensuring speed, reliability, and cost-efficiency.
Interested in learning more details and seeing YARD in action? Hit the button below or shoot us a message at [email protected].