Team8, an Israeli creator of cybersecurity startups, is partnering with Deloitte, an auditing, consulting, tax and advisory services provider to develop and implement cutting-edge technologies for financial services, according to a Tuesday (Dec. 21) press release.
The collaboration is aimed at connecting Team8’s FinTech startups with Deloitte to harness modern technologies, identify new opportunities and reduce potential risks associated with startups via initiative-taking engagement with customers, the announcement states.
Deloitte works to improve corporate innovation opportunities for startups, while Team8 partners with entrepreneurs to build innovative FinTech companies. Working together will enable Team8’s startups to participate in market validation processes and gain more access to insights on up-and-coming trends, according to the companies.
The firms are exploring emerging trends and cutting-edge solutions in the tax sector that are primarily being driven by FinTech companies. Research will result in the publication of a collaborative report slated for release in the coming months.
“FinTech is a complex industry where innovation needs to sit alongside a deep understanding of the businesses’ domain, regulations, privacy issues and cyber threats,” said Team8 Managing Partner Rakefet Russak-Aminoach. “Today, it’s not just financial services firms exploring FinTech solutions, but also non-financial firms. Both need to be able to access the right combination of financial technology and financial expertise as they grow their offerings.”
Team8 is not the only company Deloitte is collaborating with. Last month, the company announced a partnership with the cryptocurrency Avalanche to create more efficient disaster relief platforms, as PYMNTS reported. The joint effort caused Avalanche to rise into the top 10 cryptos based on market value.
Read more: Cryptocurrency Avalanche Surges After Deloitte Deal
In June, Deloitte teamed with Volante to integrate cloud-based technology into its offering for banks. The collaboration was intended to modernize payment solutions as well as transaction workflows, while streamlining obstacles such as regulatory compliance and operational risk.
See also: Payments Take Center Stage of Bank-FinTech Collaboration
Cryptocurrency apps in the U.S. have surged in popularity due to factors such as the potential for profit, low transaction fees, and increasing user accessibility. These platforms allow users to trade cryptocurrencies easily, offering a decentralized, peer-to-peer model that reduces reliance on traditional financial institutions.
The ability to buy low and sell high has attracted investors seeking financial gains, while lower fees compared to traditional payment methods make these apps more appealing for online transactions. The increased acceptance of cryptocurrencies by businesses, along with advancements in blockchain technology, security, ease of use, and high liquidity, is fueling the belief that crypto could shape the future of finance.
PYMNTS’ Provider Rankings of Cryptocurrency Apps evaluate the performance of leading platforms based on factors such as user experience, transaction volume, security features and customer service. By analyzing consumer preferences and industry trends, these rankings provide insights into which apps are best meeting the needs of cryptocurrency users, and highlighting the platforms that offer the most reliable, user-friendly and innovative services.
No. 1 is Binance with 98 points.
Founded in 2017, Binance offers a range of services for new and experienced investors. The platform supports over 350 cryptocurrencies, including popular options like bitcoin and ethereum, along with niche altcoins. This variety, combined with high liquidity, ensures users can quickly execute transactions with minimal price slippage.
A key feature of Binance is its competitive fee structure, which includes discounts for paying with Binance Coin (BNB), making it attractive for frequent traders. The platform also provides advanced trading tools, such as charting and real-time data, and offers margin and futures trading. Its user-friendly interface, including a mobile app, makes it accessible to traders of all experience levels.
Security is a top priority for Binance, with multi-signature wallets, two-factor authentication (2FA), and a Secure Asset Fund for Users (SAFU) protecting funds and personal information. Binance also offers staking, lending and savings options for passive income, appealing to long-term investors.
No. 2 is Bybit with 91 points.
Bybit is accessible in over 180 countries and offers an intuitive mobile app that provides most of the desktop version’s features, making it convenient for users to manage their crypto investments anywhere. With access to more than 1,200 cryptocurrencies, Bybit allows users to buy, sell, and trade with ease, while offering up to 100x leverage for experienced traders looking to maximize potential profits.
Additionally, Bybit offers Bybit Earn, a feature that allows users to earn interest on their cryptocurrency holdings. This range of services and tools caters to beginner and experienced traders, making it a popular choice in the crypto space.
Tied for second with 91 points is Crypto.com.
Based in Singapore, Crypto.com offers a wide range of services including an app, exchange, DeFi wallet, and NFT marketplace, providing access to over 350 cryptocurrencies. The Crypto.com app allows users to buy, sell and track cryptocurrencies with more than 20 fiat currencies, offering features like price alerts, recurring buys, and TWAP bots to optimize trading. Users can also earn interest on their holdings, spend crypto through the Crypto.com Visa Card, and receive up to 5% cash back on purchases.
For more advanced traders, Crypto.com’s exchange supports over 200 cryptocurrencies, with spot, margin and derivatives trading options. It offers low fees and discounts for those who stake its native token, CRO. The platform also includes automated trading bots and emphasizes security with 2FA.
KuCoin and Coinbase round out the top five with 83 and 76 points, respectively.
Checking in tied at No. 6 with 74 points is HTX and OKX.
Nos. 8-10 comprise MEXC, Blockchain.com, and BTCC with 65, 62, and 54 points, respectively.