Nikolay Denisenko, the Co-Founder and CTO of Brighty App, recently shared insights on how the company aims to revolutionize banking by bridging the gap between traditional banking and cryptocurrency. During a discussion on the SlateCast with CryptoSlate’s Senior Editor Liam “Akiba” Wright and CEO Nate Whitehill, Denisenko highlighted Brighty’s mission to make crypto assets more accessible and usable in everyday life.
The motivation behind creating Brighty App stemmed from Denisenko’s experience at Revolut, where he noticed that crypto was primarily used for trading. He envisioned a platform where crypto could be utilized as an asset utility, not just for trading. Brighty App offers a range of features, including sending and receiving crypto, spending crypto with a card, linking cards to crypto accounts, and implementing DeFi strategies in a user-friendly interface.
Denisenko also discussed the regulatory landscape, expressing optimism about the EU’s Markets in Crypto-Assets (MiCA) regulation. He believes that increased acceptability of crypto by central financial systems and banks can lead to better partnerships with traditional banks, potentially expanding Brighty’s services. The company is also planning to launch in the UK market to cater to a growing demand for crypto-related services.
One of the misconceptions Denisenko addressed is the belief that crypto is unsecure and volatile, making it unsuitable for everyday use. He emphasized the utility of stablecoins for remittances and cross-border payments, highlighting the potential for crypto to serve as store-of-value assets similar to gold or silver. Additionally, Denisenko shared his experience with entrepreneurship in the EU, noting challenges related to opening bank accounts for crypto-related businesses.
Looking ahead, Brighty is exploring the integration of AI in its investment platform to optimize decision-making and reduce biases. The AI-driven investment feature has shown promising results in backtests, with a performance of around 30% APY. As Brighty continues to develop and expand, it represents a new wave of fintech solutions that aim to address key issues such as usability, regulatory compliance, and misconceptions about cryptocurrency.
By focusing on user experience and regulatory compliance, Brighty is poised to become a leader in the evolving landscape of digital finance. With plans for global expansion and innovative features like AI-driven investments, Brighty is at the forefront of revolutionizing banking and making crypto more accessible to everyday users.