Building a Multi Vendor Stack: The Key to Unlocking Emerging Markets

Emerging Markets Poised for Growth

Emerging markets are buzzing with crypto opportunities, and projects should keep a keen eye on the following regions:

1. Southeast Asia
Countries like the Philippines, Thailand, and Vietnam are embracing blockchain for remittances and financial inclusion.

2. Africa
Markets including Nigeria, Kenya, and South Africa are leveraging crypto for cross-border payments and local trade, creating new financial pathways and empowering local economies.

3. Latin America
Nations like Brazil, Mexico, and Argentina are exploring crypto as a solution to economic instability.

4. Middle East
Particularly in the UAE and Saudi Arabia, there is investment in blockchain for governmental and financial services.

These regions represent a frontier of opportunity, where innovative solutions can resonate with local needs and drive meaningful adoption of crypto technologies.

Diversify to Thrive: The Case for Multi-SP Integration

Tapping into emerging markets requires a multifaceted approach, and integrating with multiple service providers is crucial to increasing transaction completion rates. Here's why:

1. Improve Country and Local Currency Coverage:
By integrating with multiple service providers, crypto projects enable users in emerging markets to transact in local currencies instead of USD or EUR. This boosts conversion rates and reduces friction, making crypto more accessible and appealing. It's a localized approach that speaks the financial language of the people.

2. Transact in Local Payment Methods:
Not everyone in emerging markets uses traditional banking methods. Many rely on local and mobile payment solutions. Integrating with multiple service providers, crypto projects can offer local payment methods, meeting users where they are and accommodating their preferred ways of transacting. It's a user-centric approach that builds trust and convenience.

3. Create Redundancy Across Service Providers:
Dependence on a single service provider can be risky, especially in volatile emerging markets. By creating redundancy across multiple providers, crypto projects ensure uninterrupted service. If one provider faces issues, others can take over, ensuring a seamless user experience.

4. Better pricing spreads
When targeting emerging markets, it's crucial to consider the pricing spreads of different onramps. Those focusing on specific regions often tap into local liquidity sources, offering more favorable spreads than global onramps. This means users get more crypto for their money. By integrating with these specialized onramps, you're adopting a user-centric approach that resonates with local financial dynamics, boosting conversion rates. These onramps provide competitive, sustainable solutions tailored to each market's unique characteristics.

5. Streamlined KYC processes
Navigating KYC requirements is particularly challenging in emerging markets such as India, Latin America, and Southeast Asia. Local onramps offer a solution by streamlining the KYC process, accepting more commonly used identification documents specific to their market. This user-friendly approach not only aligns with local regulations but also reduces friction, leading to more successful transactions for developers. The end result is a win-win: a more efficient and localized experience that benefits both users and developers, positively impacting conversion rates and the bottom line.

In short, integrating with multiple service providers is not just a strategy; it's a necessity for crypto projects aiming to make inroads into emerging markets.It's a pathway to success in a world where one size doesn't fit all.

Learn more about how Meld is helping developers unlock crypto here

Meld: Your Crypto Stack as a Service

Identifying and integrating with onramps that focus on emerging markets is a time consuming and expensive project. It’s an endeavor that takes away resources that are better spent on your core business and creating features your customers love. That’s where Meld comes in.

Developers who integrate with Meld’s Crypto Stack get immediate access to a continually expanding suite of ramps - all through a single API. We integrate with on and offramps that'll give you the widest coverage across countries, fiat currencies, tokens, and payment methods. By doing so, you can expand your reach and boost conversion rates by 4x, lower fees by giving users more choice - all without increasing your engineering headcount.

Want to know more about Meld's complete coverage and Crypto Stack? Contact us and get access to our documentation!

Conclusion

Focusing on emerging markets is not just a strategic move; it's a pathway to expanding the total addressable market of your project. By integrating with service providers that understand local needs and resonate with users in regions like Southeast Asia, Africa, Latin America, and the Middle East, developers can unlock untapped potential and reach a broader audience. It's an approach that amplifies reach, boosts conversion - all while expanding the horizons of what's possible in the dynamic world of crypto.

Meld is empowering developers to build a Multi Vendor Stack and launch faster than ever! Learn more about how to launch in weeks instead of sprints here.

FAQs

Q. How can developers integrate local payment methods like PIX to offer a variety of tokens such as AVAX or USDC coin?
Developers can leverage the power of Multi-Vendor Stack to offer a wide range of tokens and local payment methods. By integrating with service providers that specialize in emerging markets, developers can enable transactions in local currencies and payment methods like PIX in Brazil. This not only makes tokens like AVAX and USDC coin more accessible but also resonates with the financial language of the local population, thereby boosting conversion rates.

Q. What role do specialized onramps play in helping developers offer options like BTC and Polygon Matic in emerging markets?
Specialized onramps are crucial for developers aiming to offer a variety of tokens in emerging markets. These onramps often have better pricing spreads and are tailored to each market's unique characteristics. By integrating with such onramps, developers can offer tokens like BTC and Polygon Matic at more favorable rates. This user-centric approach resonates with local financial dynamics and significantly boosts conversion rates.

Q. What strategies can developers employ to ensure they offer a wide range of tokens while accommodating local payment preferences in emerging markets?
Developers can integrate with platforms like Meld's Crypto Stack to easily offer various tokens and local payment options. This eliminates the need for extra engineering resources. Alternatively, market research can identify local payment preferences, guiding integration with suitable service providers to offer a diverse token range and enhance user convenience.