NewTech Friday: Colossos – Banking meets crypto
Colossos is an ultimate fusion of euros and crypto assets on a single money app, democratizing banking for crypto investors and Web3 businesses. Its CEO and Founder, Adrien Castellani, tells us more about this European fintech to be launched in December 2023.
Colossos is an ultimate fusion of euros and crypto assets on a single money app, democratizing banking for crypto investors and Web3 businesses. Its CEO and Founder, Adrien Castellani, tells us more about this European fintech to be launched in December 2023.
What led to the creation of Colossos?
The inception of Colossos can be traced back to a pivotal moment in my life in 2022. It all began when my traditional bank sent me a perplexing email, demanding explanations for my cryptocurrency transactions. This incident wasn't isolated; it represented a widespread issue faced by individuals and Web3 businesses worldwide. This situation fueled my passion to create Colossos, and I've been dedicated to this project for nearly two years.
Traditional banks often struggle to grasp cryptocurrency nuances. They hesitate to serve crypto-related businesses, burden existing clients with paperwork, and pose numerous questions about crypto transactions. Delays in processing money transfers could lead investors to miss valuable opportunities. Colossos emerged as a solution to these challenges. We prioritize transparency, actively seek client feedback, and continuously enhance our platform to address their needs.
Could you present Colossos' offer?
Certainly, Colossos stands out in the market for its seamless integration of traditional banking services and a comprehensive suite of crypto offerings, all within a single platform.
We cater to two distinct customer segments: personal investors and businesses operating in the crypto space, including global enterprises, freelancers and crypto associations.
Our traditional banking services encompass SEPA transfers, SEPA Instant Transfers, standing orders, sub-accounts and a Colossos debit card. What sets us apart is that clients can effortlessly use their Colossos IBAN for everyday transactions like receiving salaries and paying bills.
Simultaneously, our fully functional crypto wallet empowers customers to send and receive over 35 cryptocurrencies from external wallets. For businesses, Colossos streamlines cryptocurrency payments to partners and providers.
Furthermore, our crypto exchange feature allows clients to engage in buying, selling and swapping across more than 150 trading pairs – a significant advantage over platforms that restrict users to just one or two coins for speculation.
What's coming next for Colossos?
Colossos has achieved several significant milestones on its journey to becoming a market leader. We've successfully obtained a VASP license (Virtual Asset Service Provider), secured authorization as an outsourced service provider of an EMI through Modulr, completed rigorous penetration IT tests and received PSD2 compliance certification.
Looking ahead, our immediate focus is on the beta test phase, set to commence in December. During this phase, we will actively engage external users to thoroughly test the platform, gather valuable feedback for our IT team, refine our dashboard for maximum user-friendliness and comprehensively assess overall performance.
The most anticipated moment in our roadmap is scheduled for December 2023. This is when we will open the doors to our first Early Bird accounts for both personal and business clients. The Basic plan, which is free of charge, will be available to personal clients, while the Alpha Pro plan, featuring a 20% lifetime discount on monthly fees, will be introduced for our business clientele.
In summary, Colossos is on a mission to bridge the gap between traditional banking and cryptocurrencies, providing a seamless and transparent financial experience for all our clients. With a robust roadmap ahead, including the beta test phase and the launch of our Early Bird accounts, we are poised to make a significant impact on the crypto banking landscape.
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