In an exclusive interview with Dejan Davidovic, co-founder and Chief Operating Officer of Kriptomat, a pioneering Estonian-based crypto investment platform, we delve into the company’s journey, its unique approach to integrating decentralized finance (DeFi) with traditional finance, and its future aspirations.
A Vision for Accessibility and Security
Founded in 2018, Kriptomat has grown to serve over half a million customers across Central and Eastern Europe. Dejan emphasizes the company’s mission: to demystify and democratize access to cryptocurrency for retail investors who often find existing platforms intimidating.
„Our goal has always been to bring crypto and this new technology to regular retail customers.” – Dejan explains.
This customer-first philosophy is reflected in Kriptomat’s localized approach, offering support and resources in multiple languages to ensure users feel secure and informed.
Organic Growth and Customer Trust
Kriptomat’s growth has been impressive, yet it has been achieved organically. Unlike many crypto startups that rely on large initial coin offerings (ICOs) and speculative trading, Kriptomat has focused on building a sustainable and trustworthy platform. This commitment to customer satisfaction has driven their success, allowing them to expand methodically and maintain a strong reputation.
Integrating DeFi with Traditional Finance
One of Kriptomat’s key innovations is its effort to integrate DeFi with traditional financial systems. The development of a hosted decentralized wallet allows users to access a wide range of assets, including NFTs and DeFi protocols, from within their Kriptomat account. This simplifies the process for users who might find traditional DeFi tools like MetaMask overly complex. However, Dejan acknowledges the ongoing debate around the principles of crypto custody. „Self-custody is one of the main benefits of crypto, but it’s also the biggest threat.” – he notes, emphasizing the balance between accessibility and security.
Regulatory Compliance and Trust
Kriptomat operates under stringent regulatory frameworks, primarily supervised by the Estonian Financial Intelligence Unit (FIU). With the upcoming MiCA regulation, they will transition to oversight by the Financial Supervision Authority (FSA), aligning with traditional financial institutions. This regulatory compliance is crucial for building trust, which Dejan identifies as the industry’s most significant challenge.
Future Developments and Localization
Looking ahead, Kriptomat is focusing on hyper-localization to make transactions as seamless as possible for users in different regions. This includes enabling funding in local currencies and establishing partnerships with local banks. Additionally, Kriptomat plans to expand its product offerings to include more investment-oriented tools, potentially incorporating traditional assets like ETFs.
„People in Eastern Europe lack financial literacy. We will continue to build products that make crypto an interesting investment asset.” – Dejan explains.
Navigating the Challenges of Crypto Adoption
The future of cryptocurrencies, according to Dejan, hinges on widespread adoption and regulation. While regulatory measures may be controversial, they are essential for establishing the trust needed to bring crypto into the mainstream. Despite the fast-paced nature of the industry, Dejan remains optimistic about the future, anticipating increased adoption and innovative solutions that balance security with user-friendly access.
Educating the Next Wave of Investors
For those new to the world of crypto, Dejan advises a thorough education before investing. Kriptomat offers numerous resources, including onboarding webinars and an academy that rewards users for completing courses. „Do not get loans to invest in crypto. Learn for yourself!” – he urges, highlighting the importance of informed decision-making.
A Collaborative Future
Dejan concludes on an optimistic note, reflecting on the collaborative progress between traditional finance and the crypto industry: „I’m really excited about the next couple of years because things have changed a lot.” – he says, expressing hope for a future where traditional financial institutions and innovative crypto platforms like Kriptomat work together to create a secure, accessible financial ecosystem.
Kriptomat stands out in the crowded crypto market with its commitment to customer-first principles, regulatory compliance, and innovative integration of DeFi with traditional finance. As it continues to grow and evolve, Kriptomat aims to provide secure, accessible investment opportunities for retail investors across Europe, paving the way for broader adoption of cryptocurrency.
You can watch the full interview here:
(Cover photo: Facebook)
