SaaScada and Zumo partner to bring crypto services to UK banks

By Divya Shah

Why it matters: The partnership reflects growing demand for regulated digital asset services as the UK moves towards a comprehensive crypto regulatory framework. For FinTechs, it lowers the barriers to entering the digital assets market by providing ready-made banking, custody and compliance infrastructure.

SaaScada, a cloud-native core banking platform provider, has partnered with digital assets platform Zumo to help UK financial institutions offer regulated crypto services alongside traditional banking accounts. 

The partnership provides banks, FinTechs, neobanks and wealth managers with a pre-integrated route to launching digital asset offerings without the need for extensive in-house development. 

Under the collaboration, Zumo, which is registered with the UK Financial Conduct Authority (FCA) as a cryptoasset business, will manage crypto-related services including custody, trading and KYC/AML compliance. SaaScada will provide the core banking infrastructure and cash accounts used to fund crypto purchases and receive proceeds from asset sales. 

The two companies said the partnership is designed to bring crypto activity into existing banking relationships, allowing institutions to offer customers a unified experience across both cash and digital assets. 

Steve Round, co-founder and president of SaaScada, said the company focuses on core banking while partnering with specialists for complementary services. He noted that the collaboration enables banks and wealth managers to incorporate digital assets into customer relationships through infrastructure that is already operational and compliant.  

Through the partnership, financial institutions will be able to create new revenue opportunities, improve customer retention, launch regulated crypto services without lengthy implementation projects, provide customers with a consolidated view of cash and crypto holdings, and monitor related payment activity in real time. 

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 have shifted from whether to offer digital assets to how fast they can move.”   

The partnership is available immediately to UK banks, FinTechs, neobanks and wealth managers and can be tailored to fit each institution’s existing business model rather than being delivered as a standardised package. 

Jones added that regulatory requirements are embedded within Zumo’s technology architecture, helping financial institutions introduce digital asset services while remaining aligned with their existing banking infrastructure.