In the rapidly evolving world of crypto and digital payments, many businesses and traders face frustrating barriers that slow down or complicate transactions. Shield is a fintech startup founded by Emmanuel Udotong, Isaiah Udotong, and Luis Carchi, dedicated to solving these key pain points with a focus on making trading and crypto payments simple, fast, and secure.
Here’s a deep dive into the unique problems they are addressing and how their solutions stand out:
1. Problem: Complex and Slow Crypto Payments for Businesses
Many businesses that want to accept cryptocurrency payments face a complicated process, from managing multiple wallets, waiting days for funds to clear, to unclear regulatory compliance. This often results in lost opportunities and inefficiencies.
Shield’s Solution:
They provide a seamless platform that allows businesses to accept stablecoins (like USDT) and get same-day wire transfers directly into their bank accounts. This eliminates the long waiting times and hassle of manual conversions, enabling businesses to quickly access their funds and maintain smooth cash flow.
2. Problem: High Fees and Hidden Costs
Traditional crypto payment gateways and exchanges often charge high fees and monthly subscriptions, discouraging smaller businesses or new traders from participating.
Shield’s Solution:
Shield offers competitive pricing with a low, transparent 1% transaction fee that decreases as transaction volume grows. Plus, there are no monthly fees, making the platform affordable for businesses of all sizes.
3. Problem: Lack of Trust Due to Security and Fraud Risks
The crypto space is rife with scams and frauds, making businesses and traders wary of adopting digital payments. Many platforms don’t provide robust security and compliance measures, increasing risk.
Shield’s Solution:
Security is a top priority. Using advanced fraud detection powered by Elliptic and strict Know Your Customer (KYC) and Know Your Business (KYB) processes, Shield ensures that every transaction is safe, compliant, and transparent, building trust in the ecosystem.
4. Problem: Navigating Regulatory Compliance Is Difficult
Many businesses struggle to comply with evolving regulations related to crypto transactions, which can lead to fines or blocked transactions.
Shield’s Solution:
The founders have integrated regulatory compliance into their platform’s core, making it easy for businesses to meet local and international standards without additional overhead or legal headaches.
5. Problem: Fragmented Crypto Trading and Payments
Traders and businesses often need to use multiple platforms to buy, sell, swap digital assets, and manage different currencies, creating fragmentation and complexity.
Shield’s Solution:
Shield combines a multi-currency account system with a B2B exchange, allowing users to manage, trade, and convert digital assets all in one place. This integrated ecosystem streamlines workflows and reduces operational friction.
6. Problem: Limited Access for Emerging Markets
Many crypto platforms neglect the needs of emerging markets, where access to banking and financial services is limited or costly.
Shield’s Solution:
With founders deeply rooted in emerging market communities, Shield specifically designs solutions that lower barriers, provide local support, and enable businesses from all regions to participate in global trade easily.
Why Shield’s Founders Are Making a Difference
Emmanuel, Isaiah, and Luis combine experience from prestigious backgrounds like MIT, Princeton, and leading tech companies. They first entered the crypto world through an NFT project aimed at onboarding their communities but quickly saw the urgent need to protect users and simplify trading.
This real-world insight drives their passion to create a platform that is not just innovative but genuinely solves the pain points traders and businesses face every day.
Conclusion
Shield is more than just a fintech startup. It is a catalyst for democratizing access to global crypto commerce by solving key problems:
- Streamlining payments with fast, affordable transfers
- Ensuring security and trust through top-tier compliance
- Reducing complexity by integrating trading and payments
- Empowering emerging markets with accessible solutions
Explore more and get started at getshield.xyz.
