Introducing Web3 Enabler’s Digital Asset Wallet for Salesforce Financial Services Cloud
Financial advisors and wealth managers cannot currently get visibility into their clients’ crypto holdings. This blindspot prevents advising their clients on their full portfolio.
Providing financial advisors with user-friendly access to blockchain data, such as Ethereum or Bitcoin transactions, will allow clients to share a full picture of their total assets with their financial advisors.
Crypto is already part of diversified portfolios. Currently, only large or specialized firms have the tools to track these assets. Once blockchain data can be monitored within the systems available to Main Street financial firms, crypto will become a part of a standard portfolio found in the typical investor account.
Product Features
Native Portfolio Management: The wallet allows users to visualize their digital assets just like traditional stocks, enhancing analytic capabilities for financial advisors.
Growth of Digital Assets in Financial Services: The rise of cryptocurrencies and blockchain technology demands that financial institutions adapt to remain relevant. The Digital Asset Wallet positions itself uniquely by bridging traditional finance with the growing digital assets market. It appeals to digitally-savvy, and often younger investors, and can help financial advisors adjust their strategy accordingly. For example, Fidelity has a digital asset management department specifically to attract younger investors and replace their aging client base that clings to the familiarity of traditional securities.
Significance of the Salesforce Ecosystem: Ninety-one percent of Salesforce customers utilize tools created by an Independent Software Vendor like Web3 Enabler, spending $140 Billion on the AppExchange. Web3 Enabler’s decision to launch on the AppExchange signifies its strategic positioning aimed at optimizing reach. This move allows for easier adoption of crypto assets in a well-established ecosystem, facilitating broad-based acceptance and operational efficiency.
Customizable Solutions for Advisors: The appeal of the Digital Asset Wallet lies in its customizable nature for both individual advisors and organizations. It has a flexible business model that can expand its user base and enhance advisor-client interactions tailored to specific needs. For example, if a client is looking to create a less conservative risk profile and include cryptocurrency, then advisors can look at current holdings and suggest assets that would complement the portfolio as a whole.
Market Responsiveness with Diverse Currency Options: The wallet is strategically positioned to accommodate international clients with built-in support for both USD and Euro-denominated stablecoins and crypto assets. This drives discussions around diversified portfolios and intelligent investment strategies in foreign markets, boosting crypto asset relevance beyond geographic boundaries.
Intelligent Investment Conversations: By allowing advisors to view digital asset holdings alongside traditional investments, the wallet encourages more informed discussions with clients about asset allocation and risk management, improving client relationships and satisfaction levels. Making this feature available to Main Street firms at a reasonable price point will allow them to differentiate their firms’ offerings as crypto becomes a more commonly held asset. It will also attract new clients, particularly those choosing financial advisors for the first time.
Anticipation of Product Deployment: The scheduled launch in Q2 illustrates a clear timeline for customer expectations, fostering excitement within the market and enabling advisors and potential users to prepare for adoption and implementation of the new technology.
Supported Networks
- Connect Popular Wallets (Wallet Connect, xPub, or Similar)
- Retrieve Current Assets for Wallets (Native Coin + Crypto Assets)
- Provide a Listing of ALL Current Assets
- Provide a Valuation (Mark to Market) of current verified assets
Supported Assets
- Ticker and Name are Stored
- URL to lookup the backer (if applicable)
- Verification of Contracts or similar
- Mark to Market (Coingecko or otherwise)
- Ability to aggregate total amount across networks (if applicable)
Supported Exchange
- Customer can connect account (OAuth or Similar)
- Customer can authorize read only access
- With that authorization, Financial Services Cloudcan retrieve the assets on hand
- Financial Services Cloud can mark to market
Availability on the Salesforce AppExchange
Web3 Enabler positions itself as a vital player in the enterprise adoption of crypto solutions, being the sole Salesforce Independent Software Vendor (ISV) that focuses on blockchain payment systems available within the AppExchange.
Check out our Blockchain Payments App Exchange listing.
Learn more by scheduling a time with the Web3 Enabler team.
Digital Assets in Salesforce
Digital Asset Wallet for Financial Services Cloud provides financial advisors and wealth managers with a 360 degree view of their client finances. Digital Asset Wallet allows clients to connect their wallets on a variety of blockchains, providing transparency for asset holdings without giving up their private keys.
This allows their advisors to see their holdings, market them to market, and include them in the overall financial portfolio of their company.
With Digital Asset Wallet for Financial Services Cloud, your Web3 Wallets are safely held with your hot or cold storage solutions, while providing visibility for your financial advisor to see the full picture.