Fyllo – a leading data-driven marketing firm – has announced it is stepping into the crypto space.
Fyllo Is Looking to Move Towards Crypto
Fyllo is a company that makes its services available to businesses in multiple industries. The enterprise offers software and other solutions designed to ensure companies remain fully compliant with present-day regulations, and now it appears Fyllo is broadening its horizons to do the same for future crypto-related products.
Up until now, the company mainly provided its services to enterprises or offices stationed in law or the cannabis industry, though entrepreneurs and MSOs could also gain access to the company’s software. Various crypto companies will now be able to use Fyllo to ensure they remain within full stead of financial liability and ensure customer data remains safe from prying eyes and illicit actors.
Founder and CEO of Fyllo Chad Bronstein explained in a recent interview:
Since launching in 2019, Fyllo has rapidly expanded to address the cannabis industry’s need for compliant marketing solutions and jurisdiction-level regulatory solutions. With similar challenges and high-growth opportunities present in the cryptocurrency vertical, expanding our regulatory database to serve them is a natural evolution of the business.
According to a recent Harris Poll, the biggest thing that appears to be getting in the way of the crypto space is a lack of regulation. Approximately 46 percent of the poll takers said the industry will never be legitimate or mainstream enough without proper protocols in place to ensure consumer and trader protections are solid.
At the time of writing, crypto regulation appears to be a big deal given how much the space is falling into disarray. The digital currency arena has fallen from a valuation of around $3 trillion during the first few months of 2022 to less than $1 trillion. Assets like bitcoin, the world’s number one digital currency by market cap, have incurred losses of 70 percent or more, and it appears many regulators are wary of the volatility the space is experiencing.
They want to ensure protections are properly imposed as a way of potentially controlling future price swings and keeping traders from going broke overnight. These calls for regulation were in full swing following the recent collapse of Terra USD, an algorithmic stable currency.
Not long ago, we saw the U.S.’s first major attempt at crypto regulation with a new executive order that called for financial agencies within the country to examine the growing crypto space and get a better idea of the risks and benefits associated with it.
First It was Cannabis; Now, Crypto!
Bronstein continued his statement with:
Fyllo is building the technology and solutions that will enable companies to thrive in the new economy. Crypto and cannabis are just the beginning, as we see applications across many of today’s growth sectors.