BRD, a Mobile crypto wallet services provider backed by Ripple as well as SBI Holding, has announced it is expanding to the enterprise sector and has launched Blockset blockchain that will enable developers to easily develop apps for enterprises.
In a press release, the firm explained that the new blockchain will be a data integration platform that comes with different tools that will enable coders to develop quality enterprise blockchain applications. The new product will target the banking and financial services providers and big crypto-based firms. According to the announcement, Blockset will offer tools that are ready to use that will reduce the costs of development for coders.
One of the major benefits of Blockset is that nodes can easily be hosted ‘out of the box’. This will help in the reduction of the hosting costs as well as development costs that are used by blockchains offering major chain support.
More than 20 financial institutions are already testing Blockset blockchain in what the firm termed as a private pre-release program. The program has notable names such as SBI Holdings, Ripple as well as KPMG. BRD plans to bring on board crucial channel partners as well as global system integrators in order to fast-track the adoption of the blockchain in the coming months.
BRD also stated that Blockset will be available globally starting from Jan. 17, and will focus more on the financial sector and other blockchain-based enterprises like exchanges. According to the company,
“Blockset … will fundamentally realign BRD’s business model for the high growth demands of the financial services and banking industry worldwide.”
According to the firm’s CEO and co-founder, Adam Traidman, about 90 percent of the largest banks in the world are exploring crypto and it is thus clear that the demand for enterprise blockchain services is on the rise. He added,
“That is why we developed our own proprietary platform (Blockset) which banks, financial services, and large crypto companies will now be able to leverage to accelerate their time to market and deliver enterprise solutions to scale on a global basis for a fraction of the development costs.”
Update To Original Article: Headline change while adding in more information from BRD.
The BRD team reached out to us to clarify on our original headline that this is not a ‘pivot' from their core business, just an expansion into new areas.
The BRD consumer wallet business just had its best year ever (new users) and they also had a record number of new user growth in Q4. Most importantly, they will continue to invest and hire for our consumer wallet business. It's more expansion into a new market for BRD; the enterprise data integration space for blockchain.
In spite of what appears to be a ‘glass ceiling' on consumer crypto growth the past 18 months, the BRD mobile apps have grown tremendously. We just wrapped up a record quarter (Q4 2019) and a record year (2019) for new user growth. We closed 2019 by crossing over the 3M users mark worldwide (73% growth to our total installed based Y-o-Y). We remain humbled by the fact that over $6 billion USD worth of crypto assets under our protection, that kind of faith in our brand is the singular inspiration behind all our endeavors.
What's been driving the 2019 growth are the sizable enhancements we've made to our Android app that's allowed us to have a much stronger presence in emerging markets in Asia and South America.