The year 2022 has exposed many vulnerabilities in classic banking products for our clients. Some of them lost the opportunity to pay with cards abroad, save and earn money in foreign assets that were frozen.

In parallel with this, it became obvious that in the international market there is a trend towards “democratization” of access to cryptocurrencies in relation to retail clients. It is this direction that is now the cutting edge for science and business, and therefore we have created a project covering the new and most promising product of the financial market.


Cryptoservice 2.0
One alternative for users that retains some confidence and independence from regulatory restrictions is cryptocurrency—its market is valued at $1.3 trillion. But potential clients still don't have a first-class service comparable to banking. Although the potential of digital currencies even exceeds the capabilities of modern banking in terms of transaction speed and convenience.

Therefore, we came up with the idea of ​​using digital currencies to create a service that allows you to enter and exit in cryptocurrency, and leave all the classic banking instruments inside the service: current accounts, deposits, debit cards, investment instruments and, possibly in the future, crypto lending.

This service allows you to make a transfer to anyone anywhere in the world with a fixed small commission in less than 10 minutes, pay with crypto cards all over the world and, finally, earn in digital currencies in the same way as before on foreign currency deposits in a bank - only with In this case, rates on three-month deposits can reach up to 10%+ per annum in foreign currency.

When our team (which consists almost entirely of former bankers) at Most Finance dived deeper into the ecosystem of digital currencies, we realized that from this we could assemble a whole range of products that customers are now sorely lacking. And we are talking about the whole world: we launched pilots to attract clients from Latin America and Asia, and these products are also in demand there.

Now there are only 2 markets that have a “ban” on cryptocurrency or very unfriendly regulation - the USA and China. All other countries are actively moving towards introducing cryptocurrency into the daily lives of citizens, and we want to participate in this growth. In addition to Russia, there is active demand for cryptocurrency in Mexico, Argentina, Brazil and Indonesia.

We have assembled a team of professionals who at one time launched innovative banking products. For example, Maria Dolina is developing a marketplace application with CIS crypto exchanges, and previously she developed an investment product at a bank, and, by the way, she was the first in Russia to receive accreditation under the investment consulting program. Maxim Frolov is the Director of Business Development and Investment Products that are available to users in the MUST Wallet application, in the past he was the head of a product factory at the St. Petersburg Exchange, as well as the founder of a company offering technological and infrastructure solutions for companies engaged in algorithmic trading on stock exchanges.

But it’s one thing to work “under the guise” of large organizations, and a completely different thing to step into the world of entrepreneurship. We, as a team, had to reformat from a major player operating in an established market to a start-up operating in an emerging market, where speed of decision-making and leadership in expertise separates success from bankruptcy.

The personal risk of failure is much higher, you must be ready to invest your money. In the end, the whole team invested. Some invested more, some less, but there was no one left who did not participate.

The customer is the most important thing.
Cryptocurrency is a world where the average age of professionals is much lower. This means more enthusiasm and creativity, but less systematicity, strategic thinking and the appetite to work “for the long haul”, building excellent service. The contrast with the banking world is very noticeable. The banking world is a world of respectable mature people in “expensive suits,” while the crypto world is still a world of young guys “in shorts.”

There are no participants in this market yet who truly want or know how to fully engage in customer experience. Although, of course, building a high-quality customer experience in crypto is not easy, because the very idea of ​​​​working with cryptocurrency is more difficult to explain to the user compared to a banking product.

More than half of cryptocurrency buyers are people between 31 and 40 years old. Such clients are more adaptive, it is easier for them to immerse themselves in this topic. But if you take a large client over 40 years old, you have to think about how to build a good customer experience with a huge number of nuances that sometimes frighten clients. For example, one of the most popular non-custodial wallets warns that if you make a mistake in the wallet address during a transfer, the funds will be irretrievably lost.

Basically, clients are familiar with the two most popular ways to buy cryptocurrency: either take a bag of cash to strangers and hope that the funds will still arrive in the crypto wallet, or send rubles by card transfer to the same strangers. In both cases, clients risk their money, and in the second, they also risk being blocked from the bank where they are serviced.

When we realized that the world of cryptocurrency is completely different and nothing can be canceled in it, and also that there is no such thing as a contact center or personal manager in it, we decided that we could play on this and be the first to create a convenient customer experience. Few people know that in the CIS there are exchanges through which you can buy cryptocurrency absolutely legally. And we at Most Finance have created a marketplace with such exchanges and direct our clients to where there is liquidity and the best rates. Plus there is customer support, this helps to understand even the most complex nuances.

Nowadays, customer service remains the main disadvantage of cryptocurrencies. The services are not configured to work with users who are far from the world of digital currencies. Therefore, projects that will primarily focus on improving the customer experience, bringing it to a familiar, convenient and safe form, will have good prospects.

We are proud to be the first to create a convenient service for users. There is a good saying: “The best thing is to be second, because the first ones get all the shots, and the second ones collect all the cream.” But still, being the first is much more interesting.

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