Rehive: How Stellar and Wyre Empower the Future of Finance

blog.sendwyre.com1m ago

Rehive: How Stellar and Wyre Empower the Future of Finance

With over 150 million Americans now using digital wallets and consumer appetite for a more inclusive financial system increasing; we have seen an uptake in the amount of well funded companies looking to capitalize on this emerging market. Venture Capital firms have been quick off the mark too, with funding almost tripling in 2021. But what if you are a business, marketplace or developer looking to launch your own fintech application?

Building one out from scratch includes lengthy and resource intensive duties like acquiring a money services license and it can easily cost over $250,000 just to produce a minimum viable product.

There are a few companies that are working diligently to make it simple and efficient for businesses to launch fully compliant, custom and crypto-connected fintech apps to keep up with the increasing demand shown in the space. One of these innovative companies is Rehive, and through their integration with Wyre are able to put another foot forward on their mission to create effective and scalable tools for builders.

In short, Rehive is a no-code fintech app builder. Whether you are creating a new fin-tech startup or your marketplace is looking to add financial services, Rehive makes it easy to launch a custom branded and production-ready fintech app in a matter of days.

Rehive’s product offerings are centered around its core platform, which is a transaction ledger and user management system. On top of the platform is an extension framework for building value-added features, as well as white-label iOS, Android, and web applications. Everything is bundled under a top-notch admin dashboard for your management and support team.

Getting started with Rehive is pretty simple. Fintech entrepreneurs and developers can create a sandbox account on Rehive and follow the step-by-step onboarding process to configure their application with their own branding. You can use any of their existing integrations or develop your own. They even help you train your team!

The cherry on top is that Rehive has future-proof security and scalable infrastructure, allowing Rehive to scale up your business while keeping your business and users protected.

The Rehive and Wyre integration allows builders the ability to support various asset formats, including crypto, fiat, commodities, securities, or points. By offering their clients blockchain connectivity, and with the recent addition of support for USDC on the Stellar network, Rehive can offer your users access to the power of crypto without any of the headaches of being a blockchain expert.

How Wyre Boosts Rehive’s Product Offerings

Rehive’s integration with Wyre sets them apart from any other offering in the field in many ways.

Stellar has continued to be an excellent entry point for fintech companies wanting to get into blockchain and that share Rehive’s values of democratizing the accessibility of fintech applications. Stellar was built for payments and enables seamless, near-instant, low-cost, cross-border payments. By facilitating USDC through Stellar, Wyre and Rehive are able to enable businesses worldwide to offer their users a seamless bridge from traditional payments methods into the world’s most inclusive and open monetary infrastructure — all while enabling easy and safe transfers of value at a fraction of the cost of traditional payment rails.

It is important to note that Rehive does not hold or transfer underlying funds. This is where integration partners like Wyre come into play.Wyre takes away the need for fintech entrepreneurs to acquire money services licensing, partner with banks, oversee compliance, and/or build software.

Rehive’s Wyre Extension brings the functionality of Wyre’s full suite of APIs to fintech builders. From KYC and compliance, cash-in/cash-out for fiat and crypto, and custody of end-user funds, Rehive has tapped many pieces of Wyre’s API arsenal.

To start building on Rehive with Wyre, it takes a couple simple steps. It is required to create both a Wyre and a Plaid account if you do not already have them. The Wyre account will allow you to gain API keys, and the Plaid account will allow you to link your bank accounts to send and receive payments.

Getting your API keys from Wyre’s New Dashboard is a piece of cake.

Once you have both of those accounts and your Wyre API keys, head here to register on Rehive and and import your Wyre and Plaid API keys to the Wyre Extension.

And that is all the integration steps needed.

The beauty of partnerships like this, is that companies like Rehive are able to supercharge their product offerings with Wyre’s help. Enabling fintech and crypto rails extremely accessible to builders sets the stage for unprecedented creation and innovation.

If you are thinking about building an app or implementing digital currency payments for your business, now is the time. No matter what blockchain or payment rails you decide to build with, we encourage anyone thinking about dipping their toes into the web3 space to do so and to do it today.

For more information about Wyre and how to integrate with our APIs, please visit our Website and Developer Documentation.

Connect with our community & dev team on Discord to get answers to all of your integration questions.