As more businesses accept digital asset payments, the advantages of this new form of digital money are becoming increasingly clear.
Digital asset banking platforms like Jetonbank are making it easier than ever for companies both large and small to tap into the power of digital assets.
In this article, we'll explore 5 key benefits of using digital asset payments in your business and how adopting this technology can boost your bottom line.
Can Digital Asset Payments Be Used on Business Accounts?
The short answer is yes - many business banking platforms now offer the ability to receive and send digital asset payments directly from commercial bank accounts.
Jetonbank, for example, provides a dedicated business account that seamlessly integrates both traditional fiat currency and several major digital assets.
This allows businesses to accept digital assets as payment for goods and services while still having access to standard banking features like check deposit, wire transfers, debit cards, and accounting software integrations.
Rather than needing to juggle separate digital assets and bank accounts, platforms like Jetonbank bring everything together in one convenient place.
Businesses opening an account have the option to receive funds in fiat currency or digital assets, send payments internationally using either method, and easily convert between the two as needed.
This streamlined interface removes much of the headache that previously came along with incorporating digital assets into traditional commerce.
Can Businesses Make Digital Asset Payments?
Absolutely. Not only can businesses accept digital asset payments, many platforms enable them to also send digital asset payments both domestically and internationally. With traditional wire transfers, foreign transactions often involve high fees, lengthy processing times, and unfavorable exchange rates.
Digital asset payments, on the other hand, can frequently be confirmed worldwide in less than an hour for a tiny fraction of the cost of wires.
This opens up huge opportunities for businesses with global operations or supply chains. For example, a manufacturer based in Europe might pay Southeast Asian suppliers in digital assets, taking advantage of its frictionless nature for cross-border flows.
Similarly, software firms or online retailers with customers worldwide gain the ability to receive funds almost instantly from anywhere using digital assets.
Services like Jetonbank simplify this process by giving businesses the ability to easily convert between fiat and digital assets as needed.
So funds received as digital assets could immediately be swapped to USD or EUR and deposited directly into the business bank account.
And international digital asset payments can be initiated with just a few clicks. With regulated banking integration, digital asset payments are a viable option for all manner of B2B commerce.
Can International Payments Be Made with Digital Asset Payments?
As alluded to above, one of the biggest advantages of digital asset payments for businesses is their potential for faster, cheaper international money transfers compared to traditional wire services.
While wires can take days to clear internationally and involve high fees, most digital asset transactions are confirmed on public ledgers within an hour at much lower cost.
This breakthrough has major implications for companies with global operations. For example, consider a US manufacturer that ships products to clients in Europe and Asia on a daily basis. Using digital assets, invoices could be paid nearly instantly versus waiting days for wire receipts. As a result, cash flow has improved significantly.
Similarly, small businesses selling internationally gain a way to receive funds from overseas buyers without dealing with unfavorable exchange rates and sluggish wire processing that can delay payments.
Digital assets sidesteps regulatory hurdles and geographic barriers, enabling truly borderless global commerce.
Leading digital asset banking providers like Jetonbank facilitate these types of cross-border digital asset flows.
With a single account, businesses gain the ability to both send and receive international transfers of all sizes in digital assets at very low cost - a real game changer for companies with customers or suppliers abroad.
Benefits of Digital Asset Payments to Businesses
While we've touched on several already, here are 5 specific advantages that digital asset payments can provide to businesses both large and small:
- Lower fees: Transaction fees for digital asset payments are often less than 1% of the amount sent, versus 3-5% or more for credit cards and wires. Over time, these savings really add up.
- Faster settlements: Most digital asset transactions are processed and confirmed on public ledgers within an hour or less, versus days or even weeks waiting for international wires to clear. Improved cash flows result.
- Access new customers: By accepting digital assets, companies can tap into a large, worldwide customer base that prefers to pay with digital assets. This expands market reach.
- Improved security: Digital asset transactions are irreversible and cannot be refunded by customers once confirmed on blockchains. Compared to credit cards prone to fraud, this provides an extra layer of protection against chargebacks and disputed payments for merchants.
- Hedge against volatility: Dips in the value of major currencies like the dollar or euro present risks, but digital assets provide an alternative payment rail unaffected by changes in fiat currency exchange rates. For businesses, stability has value.
By integrating digital asset payments seamlessly through services like Jetonbank, companies gain these advantages with minimal effort or disruption to existing banking processes.
It's a smart way to boost business in the modern digital economy.
Which Account Should Businesses Open to Make Digital Asset Payments?
For businesses seeking the best of both worlds - smooth digital asset integration combined with traditional banking services - a digital asset banking platform like Jetonbank is the ideal choice.
Our dedicated business account provides:
- Easy digital asset acceptance and sending capabilities
- Integrated fiat currency banking
- Highly secure bank-grade infrastructure
- Regulated and supervised banking services
- Near-instant international transfers
- Intuitive account management dashboards
Opening a single business account with Jetonbank eliminates the need for separate digital asset wallets or exchanges that lack traditional banking features.
Funds are securely held under banking regulations, while the ability to easily convert between currencies gives maximum flexibility. For any company ready to start benefiting from digital asset payments, it's an easy first step.
The advantages of digital asset payments are compelling for forward-thinking businesses. Platforms like Jetonbank make it simpler than ever to incorporate this new digital money into corporate banking.
For organizations seeking to expand globally, access new customers, or gain the efficiencies of fast international money transfers, adopting digital assets is well worth exploring.
Visit Jetonbank online to learn more about opening a business account and getting started with digital asset payments today.
