Blockchain, crypto and web3 companies are launching South Africa at a rapid pace. One of the keys to their ability to get off the ground quickly and effectively is the growing fintech infrastructure they rely on to make it easier to deliver their core value proposition. Following our look at the anatomy of a wallet-based fintech stack, we took a look at what a typical tech stack might look like for blockchain business launching in South Africa, and how infrastructure players are making it easier than ever for them to take off and scale.
From blockchain-based fintech solutions, to crypto exchanges, innovative marketplaces, investment platforms and more, blockchain and web3 businesses are able to get up and running more quickly and safely than ever, thanks in large part to the increasing number of businesses they can rely on to provide critical infrastructure and enabling solutions.
In an upcoming video interview with Stitch Head of Business Development Grant James, Centbee CEO Angus Brown shared advice for any entrepreneur building a business that leverages blockchain: “Don’t build all of the tech yourself. Decide what you actually want to code, and build that. Everything else, borrow – borrow shamelessly in the early stages. Later on you can figure out where you need to invest deeper in your value chain. In the beginning, do as little as possible yourself. Leverage partners and integrations. Use the ecosystem hustle.”
We took a look at some of the partners and applications a typical blockchain startup in South Africa might consider integrating or partnering with to reduce the burden of developing custom operational solutions, so they can focus on building their core value proposition.
Blockchain, web3 and crypto-focused businesses in Africa have a number of unique requirements necessary to provide their core services – from verifying user identity, to protecting users against fraud, to enabling fast and secure movement of funds into and out of their ecosystem.
Stitch was built to alleviate some of the infrastructure challenges these businesses face in the payments and data access space by connecting – or stitching together – various nodes that constitute the continent’s financial graph. For crypto, blockchain and web3 businesses, two key elements we help solve for are fast, secure payments into an account, and seamless payouts or withdrawals. We can also guarantee payments for crypto businesses, which removes the burden and hassle of fraud-related chargebacks and challenges from traditional banks.
Here’s a look at some of the other integrations and partners that blockchain, web3 and crypto businesses might rely on in South Africa.
*Note that this graphic indicates a selection of solutions available in South Africa and is not intended to be comprehensive