Banking as a Service (BaaS) refers to a model where financial institutions provide their banking services through APIs to third parties. This allows companies to integrate banking features into their own platforms without needing to build the infrastructure from scratch.

In the sphere of cryptocurrency, BaaS enables businesses to offer services like digital wallets, payment processing, and blockchain-based lending solutions. This integration allows for seamless transactions, enhanced user experiences, and access to new financial products. By leveraging BaaS, startups and established companies can innovate rapidly, providing customers with services that meet their needs without the burden of regulatory compliance or heavy operational costs.

This democratizes access to banking services, encouraging wider adoption of cryptocurrencies and blockchain technologies. Overall, BaaS is a pivotal driver in making cryptocurrency services more accessible and user-friendly, bridging the gap between traditional finance and emerging digital currencies.