In a recent episode of SlateCast, Phillip Alexeev, Chief Growth Officer at CrossFi, joined CryptoSlate’s Editor-in-Chief Liam “Akiba” Wright and CEO Nate Whitehill to discuss the platform’s innovative solutions to integrate crypto with traditional finance.
CrossFi’s mission is to provide seamless financial inclusivity through a robust ecosystem that supports non-custodial crypto transactions, partnerships with banks, and scalable blockchain technology.
Alexeev described CrossFi as “the Apple Pay for crypto,” emphasizing its role as a bridge between decentralized finance (DeFi) and mainstream banking.
“Our focus has always been empowering users by removing gatekeepers while providing access to advanced financial tools,” he said.
Non-Custodial Payments Redefined
At its core, CrossFi offers a unique payment technology enabling users to transact directly from their Web3 wallets at any point-of-sale terminal worldwide. This approach eliminates the need for custodial platforms, maintaining users’ control over their funds. Alexeev highlighted the platform’s ability to “connect any Web3 wallet to the CrossFi app,” facilitating crypto-to-fiat transactions seamlessly and securely.
Unlike traditional crypto cards, CrossFi partners directly with banks to interact with smart contracts, bypassing third-party intermediaries.
“We’ve designed an ecosystem with fewer points of failure while forcing banks to innovate and adopt crypto technology,” Alexeev explained.
Why Build a New Layer-1 Blockchain?
Addressing the decision to build a proprietary layer-1 blockchain, Alexeev acknowledged the challenges of integrating blockchain with existing banking infrastructure.
“No existing blockchain met the security, scalability, and compatibility requirements of traditional banks,” he stated.
The customized blockchain allows CrossFi to support seamless interaction between decentralized technologies and institutional frameworks.
Flat Fees for Transparency
CrossFi aims to disrupt conventional payment systems with its transparent and predictable fee structure. Alexeev shared:
“A flat 2% transaction fee applies across all geographies and transactions, providing stability and confidence to users.”
He added that the system leverages oracle partners to ensure precise pricing, ensuring users get the best market rates for their transactions.
A Glimpse into 2025
The roadmap for CrossFi is ambitious, with several milestones on the horizon. Having launched its blockchain mainnet and completed a successful friends-and-family testing round for its payment technology, CrossFi is poised for a Q1 2025 launch. 5,000 cards were used globally during the testing phase, showcasing the product’s efficiency and scalability.
In addition to payments, CrossFi is building partnerships with industry leaders to develop products on its blockchain, including real-world and synthetic assets. Alexeev predicted:
“2025 is going to be a transformative year for us as we expand our ecosystem and bring innovative DeFi solutions to the market.”
A Focus on Community
Community engagement is a cornerstone of CrossFi’s strategy. Alexeev highlighted the importance of digital and in-person interactions, particularly in unbanked regions like Southeast Asia. He said:
“We’ve built a raving community in Southeast Asia, where people are eager to adopt technology that improves their quality of life.”
Through conferences and local events, CrossFi fosters meaningful connections, ensuring its solutions address real-world challenges. Alexeev emphasized that CrossFi is “building for people and interacting with them directly to understand their needs.”
Looking Ahead
The SlateCast episode with Phillip Alexeev showcased CrossFi’s commitment to revolutionizing the intersection of crypto and traditional finance. With its focus on non-custodial solutions, seamless blockchain integration, and transparent pricing, CrossFi is setting a new standard for financial inclusivity.
As 2025 approaches, the platform’s innovative ecosystem promises to drive adoption and redefine how people interact with crypto and traditional financial systems. The intersection of these two worlds presents a critical area to watch as the global economy embraces blockchain technology.
