״Utila addresses key challenges with an innovative and efficient solution. Our experience with Utila has been transformative; their platform's seamless integration into our daily operations has not only been straightforward but also a delight, thanks to their intuitive UI/UX that significantly reduces the learning curve and allows for quicker settlements with clients.״
About 1konto
Institutional-grade on/off ramp for digital asset and FX markets
1konto offers access to top digital assets, stable currencies and fiat currencies with efficient execution through their platform and ensure optimal trading experiences for their clients.
1konto sought to optimize their crypto operations by overcoming limitations associated with their existing custody approach. They wanted a more efficient and secure way to manage digital assets in order to support their diverse global client base. Their initial approach, relying on a combination of exchange wallets and third-party custodians, hindered control, user experience, and risk management.
The Challenge
Friction & Fragmented Operations
Limited Control:
1konto desired greater control over client assets for faster settlements and improved operational agility.
Inefficient Workflows:
Reliance on external custodians introduced delays and complexities into transaction processing.
Disjointed User Experience:
Both 1konto and their clients faced a fragmented user experience due to the involvement of multiple parties.
The Solution
Utila Delivers User-Friendly Efficiency with Security
After a thorough evaluation, 1konto selected Utila’s institutional MPC wallet platform to address their challenges. Utila grants 1konto greater autonomy over their funds, facilitating faster settlements and improved operational capital efficiency. This increased control allows for more efficient transactions, eliminating the delays associated with waiting on external custodians to release funds.
By eliminating reliance on external custodians, Utila offers a seamless workflow for both 1konto and its clients, allowing for quicker transactions and simplified operations. Also, Utila’s MPC technology and granular transaction policy controls, mitigates risks and ensures the ongoing safety of client assets.
Several factors influenced 1konto's decision to choose Utila:
Simple & User-Friendly:
Utila's intuitive interface and straightforward setup process streamlined onboarding and the robust backup solutions ensured a smooth transition and peace of mind.
Granular Transaction Controls:
The ability to define granular transaction policies provided 1konto with the flexibility and control they desired and improved overall workflow efficiency.
Seamless API Integration:
Utila's robust API integration capabilities ensured effortless integration with 1konto's existing systems, further optimizing workflows.
Exchange Connectivity:
The seamless connectivity to major exchanges like Kraken andBinance, and the possibility to integrate new exchanges on demand offered an attractive advantage.
Simple Pricing & Strong Feature Set:
Utila's pricing structure, focused on a flat fee rather than volume-based costs, aligned perfectly with 1konto's transactional business model. Despite the lower cost, Utila offers all the functionalities 1konto needed.
Forward-looking Roadmap:
1konto is excited about Utila's commitment to ongoing product development and especially appreciates Utila team's responsiveness to customer feedback and implementation of new features.
By leveraging Utila’s advanced custody platform, 1konto has gained significant operational efficiencies and enhanced control over their assets.
This enables them to better serve their global clientele and navigate the evolving digital asset landscape with confidence.
Utila empowers institutions like 1konto with enhanced control, streamlined workflows, and robust security, enabling them to navigate the evolving digital asset landscape with confidence.
Switching to Utila from traditional custodial trust companies was a pivotal moment for 1Konto, addressing key challenges with an innovative and efficient solution.
Our experience with Utila has been transformative; their platform’s seamless integration into our daily operations has not only been straightforward but also a delight, thanks to their intuitive UI/UX that significantly reduces the learning curve and allows for quicker settlements with clients.
The integration process via API for round-the-clock fund flows further enhances our settlement speeds, streamlining operations like never before. Utila’s commitment to fast delivery of product improvements and a customer-centric approach, where feedback loops directly influence feature development, has added immense value to our operations.
We’re excited about the potential this partnership unlocks for us as we move towards a more integrated, efficient future in financial services.
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