Financial services tech supplier Alviere has announced it will partner with Coinbase Global Inc to add a host of crypto products to its platform.
The financial-technology start-up will use Coinbase for custody and exchange of digital assets.
Alviere Crypto Services powered by Coinbase will go live in the US under Alviere’s state-by-state money transmission licenses. They will allow the end-users of Alviere’s programs to buy, store and sell select digital assets like BTC, ETH, LTC and USDC.
Alviere empowers non-financial brands to easily provide financial products. The company provides embedded finance solutions including branded cards, bounded bank accounts and more. They currently work with auto-loan firms, cable companies and more.
The partnership with Coinbase will enable Alviere to provide crypto custody and exchange to multiple businesses. This will help adoption as it lowers the difficulty of businesses to utilize cryptocurrency and other digital assets.
The push for this partnership comes from strong competition in the industry. Alviere co-founder and chief executive officer Yuval Brisker said in an interview: “The initial intent is really for us to be able to provide everything that any of one of the challenger financial institutions is doing.”
Alviere could use this new partnership to help businesses utilize crypto and bolster its lending services. The company has stated these new products will help the business grow its customer base and expand its operations internationally.
Alviere expects 2022 to be a year of exponential growth and international expansion, with major brands set to go live.
This partnership matches Coinbase’s efforts to grow crypto adoption. Alviere will push to bring mainstream financial options for individuals, companies and other organizations.
The partnership between Coinbase and Alviere started back in the middle of 2021 but they have now reached the point that crypto services can begin to be offered.
Alviere had a successful funding round back in October. The groups involved include Cross River Bank Capital, Opera Tech Ventures and Mitsubishi Capital Corp. During this funding round, Alviere raised $70 million to help grow their brand and business operations.