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What is Banking as a Service (BaaS)?

Crypto Terms Glossary: What is Banking as a Service (BaaS)?

Banking as a Service (BaaS) is a type of software platform that provides financial services. BaaS provides infrastructure for legacy banking systems to connect and share data with third-party financial service providers to create new products. BaaS can be thought of as the 'middleware' between legacy financial institutions and financial technology (FinTech) start-ups.

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