Lirium, a leading licensed provider of B2B2C digital asset access solutions, will begin powering digital currency access and settlement services for Mexican digital wallet Albit, reaching more than 2 million customers. Lirium already partners with financial services companies in Argentina, Brazil, Peru, Colombia, Chile, Paraguay and Uruguay.
Lirium’s white label solution will give Albit’s account holders quick and easy access to a variety of cryptocurrencies. Albit is Lirium’s first client in Mexico, a country with significant potential for adoption of alternative payment methods and alternative digital asset investment.
Lirium first launched its turnkey digital assets access solution directed at traditional financial institutions and fintechs in Argentina one year ago. Its clients in Argentina include Grupo Financiero Galicia, Brubank and Prex.
Federico Murrone, Lirium Founder and CEO, commented, “We are extremely pleased to partner with Albit, to provide its clients with easy and convenient access to our crypto-as-a-service regulated and compliant platform. Latin America is ready for mainstream cryptocurrency adoption, and Lirium provides simple, fast and safe channels to support the next wave of adoption by a broader demographic.”
With local settlement as a priority, Lirium has entered into agreements with partners in the region to provide a B2B solution for various cryptocurrency use cases. Additional countries can be added rapidly for local currency settlement as Lirium has already developed the tech and regulatory rails needed for swift new market rollout, while US Dollar, EUR and GBP settlement is available immediately after API integration with its client. The company provides bank-level oversight of digital asset transactions, including license controls, stringent risk management and security; with fund safeguarding, data protection and fraud prevention as priorities. Lirium’s back-end plug-and-play, fully adaptable API, allows its clients to retain full control of end-customer experience without adding any additional regulatory or operational complexities. Lirium extends its full license functionalities to clients, providing fully operational regulatory, compliance, treasury, liquidity, custodial and insurance coverage.
Lirium AG owns three international licenses: exchange services, qualified custodian and pricing services, enabling it to provide crypto-as-a-service regulated and compliant services globally. Lirium’s current focus and expertise is in cryptocurrencies in Latin America. However, it intends to further expand regionally and build the legal and tech rails for local provision, transaction and settlement of current and future locally relevant digital asset ecosystem (DAE) products and services.
Founded in 2020 by former Xapo, Lemon Wallet and Patagon teams, Lirium’s founders and senior management have a proven track record in fast-scaling crypto, large volume operations and secure administration, having built one of the most relevant and well-respected bitcoin wallets in the world.
Latin America has significant smartphone and digital wallet penetration, as well as crypto awareness with considerable latent demand. The region’s users understand the advantages of a dollar-linked digital asset refuge from macroeconomic inflationary and devaluation headwinds. At least one in three (36%1 vs 8% in September 2021) Latin Americans have purchased crypto and almost one fifth (19%)1 does so regularly.
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