I have spoken with 200 web3 founders/CFOs and discovered that their most important financial challenge
is how to securely store and manage their crypto when their business RUNS on crypto.

Storing crypto funds for an investment is easy (buy a Ledger), but managing a day-to-day business with crypto/fiat income is hard.

Crypto is not only an asset class, it's a business currency. Smart contracts made sure of that.

Imagine running a traditional shop with choosing between a non secure cashier (CEX) or a huge vault (Cold wallets).
What about supplier payments, refunds, and day-to-day needs. There is no standard solution for this problem.

- Gnosis is often used for its multisig/non-custodial function, but it is difficult to use, not multi-chain, and has poor customer support.

- Ledger is used for cold storage, but is not effective for managing assets. 

- MPC providers are secure and efficient, but lack practicality for making regular cross-world payments. 

- Crypto banks are difficult to onboard, have high prices, and poor UX.

Many web3 companies still hold their revenues on centralized exchanges like Kraken or Binance because they offer unified
crypto and fiat accounts and easy on/off ramping.

However, holding funds in omnibus accounts like CEX is not acceptable anymore. Thanks FTX.

Businesses need flexible ramps, financial visibility, and secure holding business accounts.

Centralized exchanges were built for retail traders, not businesses and so even business offers lack important features such as
segregation of crypto and fiat accounts, multi chain/currency support, transaction categorization, invoice management,
easy routing of payments to third parties, source of funds for AML/CFT, fees transparency and user roles for team financial operations.

My conviction is that crypto needs to disappear to become accessible!

Eytan Messika is one of the co-founders at Nilos.

Make crypto accessible to every business.

Crypto should be as easy as fiat.

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Pay, track, and reconcile your crypto wallets and fiat accounts on the same platform.
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