SaaScada, the cloud-native core banking platform, and Zumo, the UK digital assets platform, today announced a strategic partnership giving UK financial institutions a ready-built route to offering regulated crypto services, alongside the cash accounts used to fund them.
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Almost one in 10 UK adults hold cryptoassets, according to the FCA, and the typical value held is rising. Yet most of that activity happens outside the banking relationship, with customers keeping their assets on the exchanges they buy from.
The partnership between SaaScada and Zumo is designed to bring that activity inside banking relationships. Zumo, registered with the FCA as a cryptoasset business, handles the crypto side, from custody and trading to KYC/AML checks. SaaScada runs the cash accounts that fund purchases and receive sale proceeds.
Through the partnership, banks and wealth managers can:
- Open a new revenue line and improve client retention by capturing crypto activity that currently happens elsewhere
- Launch a regulated crypto offering on infrastructure that is already built and connected, rather than committing to a multi-year build
- Give clients one view of their cash and crypto, rather than two disconnected experiences
- Track every payment in and out in real time, alongside the rest of the client's banking
Nick Jones, Founder and Chief Executive Officer of Zumo, said: "The UK is bringing cryptoassets within the FCA's regulatory remit, with a comprehensive regime set to take effect in October 2027. This is a game changer for our sector, unlocking pent-up institutional demand and helping the UK build its position as a leading digital assets hub. The question banks and wealth managers are asking has shifted from whether to offer digital assets to how fast they can move."
With just over a year until the new regime takes effect, the partnership is open now to banks, fintechs, neobanks and wealth managers serving UK customers, and is built around each firm's existing proposition rather than offered as a fixed package.
Jones added: "Regulatory developments are baked into our architecture rather than added as an afterthought, which is what an institution needs when it moves on digital assets. Working with SaaScada means a bank or wealth manager can bring regulated crypto services into their proposition without stepping outside the core they've already selected."
Steve Round, Co-founder and President of SaaScada, said: "We do one thing, core banking, and we bring in specialists for everything around it. Zumo has done the regulatory and operational work that lets UK institutions offer digital assets with confidence. For a wealth manager or a bank whose clients are already invested elsewhere, that is the difference between those holdings sitting outside the relationship and becoming part of it."