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Case Study:
Alt5 Sigma

ALT5 partnered with Berkeley Payments to offer branded payment cards with point-of-sale funding functionality that allows users to make purchases in dollars against the balance of their cryptocurrency holdings.

Features Used

Crypto Debit Cards, Custom Card Design, Card Issuing, and 24/7/365 Bilingual Cardholder Support

Overview

 

ALT5 Sigma is a blockchain-based financial platform for settlements, issuance, clearing, trading and custodianship of digital instruments. Through their platform, ALT5 provides their clients the ability to buy, sell, and hold digital assets. Created by financial industry specialists to provide a secure cryptocurrency economy, ALT5 works to employ accessible, transparent and compliant practices.

Through their Fintech platform, ALT5 enables the routing of digital instrument transactions including but not limited to Bitcoin. ALT5 offers their products and services through blockchain developers, broker dealers, banks, professional traders and more.

To give their customers the ability to spend dollars against their crypto balance, ALT5 partnered with Berkeley Payments. Berkeley Payment’s point-of-sale funding functionality removes the need for ALT5’s clients to cash out their cryptocurrency balance from their account, in order to spend in-store, or at ATMs.

  • To give their customers the ability to spend dollars against their crypto balance, ALT5 partnered with Berkeley Payments. Berkeley Payment’s point-of-sale funding functionality removes the need for ALT5’s clients to cash out their cryptocurrency balance from their account, in order to spend in-store, or at ATMs.

The Challenge

 

Alt5 Sigma needed a Payments-as-a-Service provider to:

 

  1. Create ALT5 branded physical cards for all account holders with point-of-sale funding capabilities
  2. Allow their users to use cards to spend using cryptocurrency without needing to withdraw to dollars
  3. Send and manage requests that initiate the conversion of cryptocurrency to the transaction value at the time of purchase

 

The Solution:

 

Alt5 Sigma partners with Berkeley to offer:

 
White Labelled Debit Cards
ALT5 can now issue their customer physical cards that run through the Visa Network, and function as any regular debit or credit card. They work directly through ALT5’s platform to enable their account holders the ability to spend their cryptocurrency at ATMs and merchant terminals.

 

Just-in-Time Funding Technology

POS Funding cards issued to ALT5 users maintain a balance of $0. At the time of the transaction, Berkeley requests authorization from ALT5 to approve of the purchase. Berkeley Payments then acts as the point of communication between ALT5 and the payment processor that loads the correct amount of funds onto the card, once the transaction is approved.

 

Custom Card Design and White Labelling 

Cards issued by Berkeley are white labelled, allowing cards to be completely customized to fit the ALT5 brand. This gives ALT5 access to Berkeley Payment’s large distribution network and payments-as-a-service capabilities, with their own custom card artwork and logos.

 

24/7/365 Bilingual Cardholder Support

Berkeley provides a white labelled, 24/7/265 Cardholder support via the web, IVR, and live-agent to Bitcoin Well customers; ensuring happy cardholders at any time, anyplace.

 

Results:

 

With the help of Berkeley’s Payment-as-a-Service Platform, ALT5’s customers can now spend their cryptocurrency held with ALT5 at any ATM, and VISA Merchant across North America. Each account holder is issued a branded ALT5 card powered with point-of-sale funding functionality. This way, when a customer makes a purchase using their ALT5 card, they are automatically charged the equivalent amount of cryptocurrency for the value of the transaction.

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