Relio Launches Business Accounts for Web3 Companies

The neo-bank Relio, which specializes in SMEs and startups, positions itself as crypto-friendly and offers business accounts for Web3 companies.

As a specialized vertical, the neo-bank Relio wants to be the bank for SMEs, freelancers and startups. Also and especially for corporate customers who require an individual approach due to more complex business models or international transactions. In other words, companies that do not meet the usual SME standard.

The neo-bank with a fintech license, which was launched last fall, has expanded its positioning a little. Relio now describes itself as crypto-friendly and offers business accounts for Web3 companies.

Crypto Valley or Crypto Desert?

Relio wants to answer this question for the Web3 industry. The fintech company notes that blockchain startups and crypto companies in Switzerland still have problems accessing banking services. Traditional banks are often unable to take on customers from the crypto industry due to a lack of Web3 expertise, so these companies have to turn to a handful of specialized private banks or crypto banks.

However, according to Relio, onboarding at these institutions is often lengthy and the fees are usually very expensive. This is where Relio wants to step in and position itself as a partner and neo-bank for the Web3 industry so that Crypto Valley does not degenerate into a crypto desert in the area of ​​banking connections for startups.

Relio: Compliance without complications

Relio now wants to deliver on its promise of “compliance without complications” to blockchain and crypto companies. In this market segment, compliance and anti-money laundering (AML) regulations require a significant amount of effort from both banks and customers. Typically, these customers often experience long delays in opening accounts due to labor-intensive due diligence and monitoring requirements.

Relio’s unique selling point (USP) is its proprietary compliance technology, which automates many tasks. “We see significant demand from the Web3 sector in our customer pipeline. Since we are technologically focused on compliance and AML competence as a competitive advantage, it only made sense to expand our offering to this customer segment. To achieve this, we have continued to invest in our technological platform to serve the Web3 industry in a compliant manner while reducing bureaucratic burdens ” said Lav Odorovic , CEO of Relio.

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