The cryptocurrency market has gone through various stages of evolution, and at this point, many investors would agree that it has evolved significantly. Still, there is a long walk until reaching the same adoption as the traditional financial markets, such as the foreign exchange or the stock market. One of the greatest challenges of today’s crypto community is fragmentation. Starting with 2017, we have noticed a sudden boost in the volume of trading, which led to the development of hundreds of crypto exchange platforms, digital wallets, custody services, and other crypto-related applications. The problem is that institutional and retail investors are often confused about the high number of operators. The latter ones are most often incompatible with each other, as there is no single unified network and no infrastructure for the integration of multiple services.

A security-focused comprehensive financial service platform, VELIC aims to address the current fragmentation in the crypto space by offering a blockchain-oriented ecosystem that would enable users to get access to the top digital assets and integrate meaningful financial services. The unified platform provided by VELIC revolves around the crypto exchange, asset management, vault, and loan services, and investors will be able to use and access all the services from a single user account.

Does it Make Sense to Put all the Services in One Place?

The initial goal of the distributed ledger technology (DLT) was to bring decentralization and empower individuals instead of centralized organizations. Thus, one might wonder — do we need an integrated platform at all? Isn’t blockchain about total decentralization?

Well, a multifunctional platform doesn’t harm decentralization as soon as its main operations are not controlled by a single entity. Think about the first years of Bitcoin — even though it was the only cryptocurrency by that time, the network was still decentralized thanks to the blockchain. VELIC doesn’t intend to touch the current level of decentralization but rather to ensure a better user experience.

Putting all the major services in one place, especially when a high degree of security is ensured thanks to innovative technologies, is a significant achievement capable of attracting many institutional and retail investors. The latter ones have been poorly served in a market that has lacked stability and has been usually dominated by speculators.

The Benefits of an Integrated Platform Account

As the VELIC team found out, there are currently no platforms that offer a fully integrated suite of crypto-financial solutions. Investors and users have to switch between various operators in order to conduct basic transactions. It often involves time-consuming and cumbersome processes for services like loans or secure storage of crypto funds.

An integrated platform would permit users to access all the services from a single interface, which saves time and money spent on fees.

Besides, VELIC wants to act as a bridge between the crypto space and the real-world finance, which are very disconnected as of now. An integrated platform account would allow professional investors to get what they deserve — a variety of sophisticated digital asset products that can be seamlessly converted into real-world assets and vice versa.