Pay.so

Core (core.pay.so) is a pioneering startup that bridges the gap between cryptocurrency and traditional financial systems. It enables Decentralized Autonomous Organizations (DAOs) and other web3 organizations to utilize their crypto treasuries for making payments to contributors and suppliers in fiat currency (traditional money like USD, EUR). This service is particularly beneficial for entities that operate in the cryptocurrency space but need to interact with the conventional financial ecosystem.

Core operates in the fintech (financial technology) market, focusing on the intersection of cryptocurrency and traditional finance. It serves clients who are deeply embedded in the crypto world, such as DAOs, blockchain-based companies, and other web3 organizations. These clients often face challenges when trying to convert their crypto assets into fiat for everyday transactions, and Core provides a seamless solution for this.

The business model of Core revolves around providing a robust API (Application Programming Interface) with webhooks (automated messages sent from apps when something happens) that allows users to integrate Core's payment functionalities into their own platforms. This API handles all necessary Know Your Customer (KYC) processes, which are regulatory requirements to verify the identity of clients, ensuring compliance without the need for clients to implement their own KYC programs.

Core makes money by charging fees for its crypto-to-fiat exchange services. These fees can be adjusted for high-volume partners, and partners have the option to add their own fees to the service, creating additional revenue opportunities. The payments processed through Core appear as standard bank transfers, complete with an International Bank Account Number (IBAN) in the user's name, making them indistinguishable from traditional bank transactions.

In summary, Core is revolutionizing the way crypto organizations manage their finances by providing a seamless bridge to the traditional financial system, ensuring compliance, and offering a user-friendly API for integration.

Keywords: Crypto, Fiat, Payments, DAOs, Web3, API, KYC, Fintech, Compliance, Integration.