ChangeNOW moves from simple swap tool toward crypto super app as it courts wallet builders at Token2049

ChangeNOW is expanding beyond cryptocurrency swaps as it seeks to build a platform combining digital asset management, payments and infrastructure for businesses, according to Pauline Shangett, the company’s chief strategy officer.

The company, which began operating in 2017, has added a crypto wallet, loans and trading features to its original exchange service.

In an interview with Cryptopolitan at the Token2049 event, Shangett said that payment cards are also planned, as ChangeNOW works toward becoming a one-stop platform for people who want to acquire, hold and spend digital assets.

How is ChangeNOW moving beyond cryptocurrency swaps?

Shangett said that they are morphing into a super app. While she said that what they are doing does have neobank functionalities, the super app rings better, as they have been bringing multiple services into a single platform.

Shangett cited the growth of real-world assets (RWAs) as one factor contributing to crypto’s potential to reach mainstream users. She said, “What we’re doing right now is like trying to become like truly a one-stop shop for anybody who wants to interact with crypto, who wants to own crypto, and most importantly, who wants to pay in crypto.”

The company is also investing more in public relations, events and brand recognition. Shangett said ChangeNOW had relied largely on search engine optimization and social media for much of its history, but it has now expanded its marketing efforts in recent years.

It plans to continue that work through more industry events, speaking engagements and media appearances, she said.

How is ChangeNOW building its business around crypto infrastructure and payments?

Beyond its consumer platform, ChangeNOW provides infrastructure for companies building cryptocurrency products. Shangett said, “Right now, we have more than 5,000 infrastructure partners who use our API as a way for them to either monetize their business or just expand and grow.”

ChangeNOW also has B2B offerings and they include swaps, custody, liquidity, loans, payment services, and wallet infrastructure, which Shangett called “wallet as a service.”

The company has also introduced private transfers, which route payments through the company’s infrastructure so recipients do not directly see the sender’s wallet address in the final transaction path.

One of the possible use cases of that feature, according to Shangett, is paying employees for businesses that do that over the blockchain, where publicly visible wallet balances and transaction histories may create privacy concerns.

Early-stage wallet companies can also access ChangeNOW’s functionality without charge under the firm’s Fast-Track program. ChangeNOW also gives support in other capacities such as marketing and public relations.

Shangett said the program is intended to help founders generate revenue while covering development, infrastructure and customer acquisition costs.

ChangeNOW is also working with hardware wallet providers, including Ledger and Trezor. It has partnered with CoolWallet on a co-branded product.

Licensing requirements shaping ChangeNOW’s expansion

As ChangeNOW adds services, licensing has become one of its main strategic challenges, Shangett said.

“When you’re adding on new features, more and more of them are restricted to certain markets,” Shangett said, adding that they are “working on obtaining all the necessary paperwork to expand ourselves into the markets that we’re not available in.”

She said ChangeNOW limits access in sanctioned jurisdictions, markets where using its services could be unsafe, and countries where it has not obtained the necessary licenses or permissions.

She said that the company refunds transactions that come from restricted markets and blocks the originating IP addresses. The company is still working towards obtaining the permissions needed to enter other markets.

As ChangeNOW expands its product offering, Shangett said, the challenge will be to make more crypto services available while maintaining the standards the company expects from its partners.