Striga Vs Cybrid: A Comparative Look at Two Crypto Banking Platforms
In the rapidly evolving world of cryptocurrency, two platforms have emerged as leaders in integrating the power of blockchain with traditional banking systems: Striga and Cybrid. But how do they compare?
Geographical Focus
Striga caters predominantly to the European market, offering fully compliant crypto and banking APIs within the continent. On the other hand, Cybrid, although offering similar services, concentrates its core efforts on North America. The geographical focus can be a vital consideration depending on your target market.
Services Offered
Crypto Services
Both Striga and Cybrid offer dedicated crypto wallets with high-class custody. Striga is known to support Bitcoin and Lightning. Cybrid's MPC wallet is capable of supporting a wide range of networks, including Bitcoin and Lightning.
Striga and Cybrid both provide cryptocurrency exchanges API services. However, Cybrid refers to this service as a "Smart Order Router," emphasizing its ability to find the best trade execution across multiple liquidity providers, instead of just the usual exchanges to ramp crypto.
Crypto payments are another shared feature, providing seamless transfer of funds with minimal compliance overhead. Cybrid has processed millions in dollars of crypto payments for a wide variety of use cases including Bitcoin payments for legal services.
Banking Services
While both platforms offer dedicated banking services, Striga expands on this by providing customizable Visa payment cards. In contrast, Cybrid distinguishes itself by creating For the Benefit of (FBO) accounts for end-users. These FBO accounts, paired with Cybrid's capability to onramp from over 40 local currencies and offramp to 120+ local currencies, provide a seamless, comprehensive banking experience that includes crypto interfaces, bridging the traditional banking and crypto divide.
Compliance and Licensing
Striga and Cybrid both prioritize regulatory compliance. Striga is the first licensed Virtual Asset Service Provider (VASP) in Estonia under its new regulations. Cybrid, on the other hand, boasts an MSB registration in Canada and the U.S, with access to Money Transmitter Licenses across all U.S. states.
Developer-Friendly Features
Where Cybrid truly shines is in its developer-friendly offerings. Cybrid offers software development kits (SDKs) for APIs in seven languages and UI components for Web, Android, and iOS platforms. This suite of tools is designed with developers in mind, enabling them to integrate Cybrid's services into a variety of applications with ease.
Final Thoughts
Your choice between Striga and Cybrid hinges on your specific requirements. If you're targeting the European market and wish to offer card services, Striga might be the better fit. However, if your focus is North America and you value the comprehensive banking experience that FBO accounts offer — not to mention the extensive developer-friendly offerings — Cybrid seems to be the superior choice.
In a world where cryptocurrencies are rapidly gaining acceptance, choosing either Striga or Cybrid positions you at the forefront of financial technology. But if you're looking to harness the power of Cybrid's robust suite of services, reach out to us today. Let's redefine the future of finance together!