Grapes Finance enables individuals and businesses to access blockchain-powered treasury management solutions, now including cost-effective custody in the user's legal title, provided by Balance
Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Stablecorp and Balance Partner to Enable Individuals and Businesses to Access Secure Blockchain Treasury Management Solutions
Stablecorp | Release | Nov 22, 2022
Grapes Finance enables individuals and businesses to access blockchain-powered treasury management solutions, now including cost-effective custody in the user's legal title, provided by Balance
- Stablecorp and Balance, two leading blockchain financial service providers, today announced a partnership which allows users of Stablecorp's treasury management platform, Grapes Finance, to seamlessly access Balance's institutional grade custody solution, Balance Custody.
- Grapes offers its users a powerful platform for treasury management which provides access to foreign exchange and global payments systems in digital assets and fiat currencies and select access to yield and credit products via an integrated portal built on blockchain rails enabling enhanced transparency and control.
- Through this partnership, Grapes Finance users can now seamlessly onboard with Balance Custody and establish digital wallets in their own name while retaining control over these wallets through Grapes Finance's front end.
See: Crypto Payments Report 2022: How digital currencies are revolutionizing commerce, corporates and culture
- Pilot User: As an early adopter in the space, law firm Wildeboer Dellelce LLP has opened a Grapes Finance account and enabled integration with Balance Custody, empowering them to accept payments for legal services in select digital assets.
- These payments settle directly into the firm's wallet, secured by Balance's SOC 2 certified infrastructure, and can be held natively as digital assets or converted into fiat through Grapes' fiat offramp engines.
Alex McDougall, CEO of Stablecorp:
We believe this partnership ushers in a new standard for custody for both individual and small to medium-sized business users that is desperately needed in the market. Currently, opaque commingled arrangements, complicated self-custody, or high monthly minimums for dedicated custody infrastructure are the only options available. Having access to zero monthly minimums, retaining full legal title, and having one-click access to treasury management functionality as offered through this partnership will be a complete game changer for these users, and more broadly, for the entire industry. While 'not your keys, not your crypto' might not be realistic to achieve in onboarding the next generation of scaled digital asset users, 'not your legal title, not your crypto' most certainly is.
See: SWIFT Partners With Chainlink to Help Bridge TradFi Institutions with Digital Assets
George Bordianu, CEO of Balance:
Traditionally, end-user assets are held at the custodian in the name of an intermediary such as a broker-dealer. Users do not retain the legal title, nor can they directly access their assets independent of such intermediaries. There's no reason to keep doing that in this day and age. We're extremely excited to introduce this new model in partnership with Stablecorp, and to enable Wildeboer Dellelce and hopefully many others to take direct ownership and control over their digital assets.
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