In cryptocurrency and blockchain, “white label” refers to a business model where a company offers a product or service that can be rebranded and customized by another entity (typically a smaller company or startup) and sold as if it were the original creator’s product.
This concept is similar to buying generic products and putting your label on them.
Think of it this way: a white label product is a complete, ready-made solution developed by one company to sell or license it to other businesses.
This product is usually a software application or service related to cryptocurrencies or blockchain technology.
The businesses that purchase or license the white label product can customize and brand it to match their identity.
They can add their company logo, color scheme, and any unique features or functionalities they desire.
Key Elements of white label
Core Product
The original developer creates the core product and includes all the essential features and functions.
In the cryptocurrency world, this could be a cryptocurrency exchange platform, wallet software, payment gateway, or trading software.
Rebranding
The businesses that acquire the white label product are known as “resellers.”
They can rebrand the product, making it appear like they developed it themselves.
Customization
Resellers can customize the product to meet their specific needs.
This might include adding new features, adjusting user interfaces, or tailoring the product to their target audience.
Use of White Label in Cryptocurrency
1. Cryptocurrency Exchanges
Many smaller cryptocurrency exchanges use white label solutions to set up their trading platforms quickly.
This allows them to focus on marketing and user acquisition while relying on the white label provider’s technical infrastructure.
Payment Processors
Businesses that want to accept cryptocurrency payments can use white label payment gateways, offering their customers a crypto payment solution without needing in-house development.
Wallets
Some cryptocurrency wallet providers offer white label wallet solutions, enabling businesses to create their own branded wallets for secure storage and management of digital assets.
Benefits of White Label Products
1. Time and Cost Savings
Resellers can save time and money by avoiding the complexities and costs of developing a product from scratch.
2. Quick Market Entry
White label solutions allow companies to enter the market swiftly, seizing opportunities without long development cycles.
3. Brand Building
Resellers can build and promote their brand without needing to be experts in cryptocurrency technology.
4. Flexibility
White label solutions are highly customizable, offering flexibility to tailor the product to specific audiences and needs.
In the cryptocurrency realm, a white label product is a fully developed and rebrandable software or service created by one company, allowing other businesses to enter the market without the need for extensive development quickly.
It offers time and cost savings, brand-building opportunities, and customization, making it a valuable strategy for businesses looking to participate in the cryptocurrency ecosystem.