Key Data

• Trading Name: Striga
• Legal Entity: Striga Technology OÜ
• Activities: Crypto & Banking Infrastructure
• Location: Estonia 
• Regulations:  licensed by the FUI
• Key People: Prashanth Balasubramanian
• Latest news: Striga
• Latest update: November , 2024

Striga provides a unified API infrastructure for digital assets and financial services, handling security and regulatory compliance for its clients. Serving early-stage FinTechs, Web3 innovators, banks, and crypto exchanges, Striga offers services in crypto custody, trading, card issuing, and banking. In today’s heavily regulated crypto industry, Striga simplifies the entry barriers for startups and mid-sized businesses by offering a streamlined solution with a single API and contract, currently available in 30 countries.

Offering

Striga offers a suite of products designed to integrate digital assets with traditional financial services:

• Crypto Wallets: Secure custodial wallets supporting multiple cryptocurrencies, including Bitcoin and Ethereum, enabling users to hold and manage digital assets within a unified account.
• Crypto Exchange: Infrastructure for building crypto exchanges, facilitating seamless transitions between fiat and various cryptocurrencies, and supporting features like swaps and access to decentralized finance (DeFi).
• Card Issuing: Customizable virtual and physical Visa payment cards, allowing businesses to offer branded cards to their customers, compatible with digital wallets such as Apple Pay and Google Pay.
• Banking Services: Banking-as-a-Service (BaaS) APIs providing features like dedicated virtual IBANs (vIBANs), SEPA payments, and EUR accounts, enabling businesses to embed traditional banking services into their products.
• Compliance Solutions: Comprehensive compliance services, including Know Your Customer (KYC) verification and Anti-Money Laundering (AML) monitoring, ensuring adherence to regulatory standards without the need for businesses to manage these processes independently.

Regulation

Striga is the first company to receive a license from the Estonian Financial Intelligence Unit to provide Virtual Currency Services, under License Number FVT000546. This pioneering license highlights Striga’s commitment to regulatory compliance and positions it as a trusted provider in the digital asset and financial services industry.

Serving Industries

Striga serves a diverse clientele, including: Neobanking, Card programs, Crypto wallets, Cross border payments, Lightning apps, DeFi Apps, Web3 Apps, NFT marketplaces, Marketplaces, E-commerce check-out, Business banking, Personal Finance, Delivery Apps.

Key People

Prashanth Balasubramanian is the Founder and CTO of Striga, established in 2018 and based in Tallinn, Estonia. Formerly a Master’s student at ETH Zurich, he left to develop Lastbit, which later became Striga. His experiences with Bitcoin and managing cross-border transactions highlighted the need for a seamless multi-currency solution, leading him to create Striga. Today, Striga helps businesses integrate digital assets and navigate multi-currency challenges with regulatory compliance.

Funding

Striga has secured funding from a diverse group of investors to support its growth in the digital assets and financial services sector. Notable investors include Binance, Y Combinator, Rhombuz Ventures, Amand Ventures, and Berkeley SkyDeck Fund. In March 2021, Striga raised $3 million in a seed funding round, with participation from Binance X, Charlie Lee, Juan Benet, Fulgur Ventures, Buildit, SkyDeck, Brinc, Y Combinator, Kube VC, and others.

Customer Reviews

Striga currently lacks customer reviews, likely due to its status as a new company still establishing its user base. As the platform gains more traction, user feedback should emerge, providing insights into customer experiences.