A bank you control: CrossFi’s vision for non-custodial finance

Most people rely on banks to store, spend, and invest their money. But what if you never had to hand your funds over to a bank at all?

Joseph Zammit, Chief Marketing Officer at CrossFi, told The Crypto Radio that the platform is designed to minimize reliance on traditional banks while ensuring complete financial autonomy. Unlike conventional financial institutions, which require deposits into centralized accounts, CrossFi allows users to store, spend, and invest directly from their own wallets.

For more than a billion people across Southeast Asia, Africa, and Latin America, financial services remain out of reach—either too expensive, too complicated, or entirely inaccessible. Without bank accounts, many rely on cash transactions, informal lenders, or costly remittance services. Could CrossFi’s approach offer an alternative?

“When we first came across CrossFi, I was interested, because in the blurb, it said it's positioned as the Apple Pay for crypto,” Zammit said.

How CrossFi’s crypto banking model works

CrossFi is a web3-powered financial ecosystem designed to bridge traditional banking with decentralized finance (DeFi)—a blockchain-based system enabling peer-to-peer transactions without intermediaries.

Built on its own layer-one blockchain (a base network unlike layer-twos, which are built on top of base blockchains), CrossFi provides a suite of crypto-native banking tools, including payments, staking, and potentially even stock investments—without requiring users to entrust their money to centralized institutions.

The biggest issue with banking—whether traditional or digital—is that users must place their funds under someone else’s control. Even neo-banks, which promise modern financial solutions, require deposits into centralized accounts. This structure creates risks, as users depend on the stability of these institutions to access their money.

“So in 2008 we had a major market crash. People lost money. Banks got closed down,” Zammit explained. “It was a crisis, and then somebody came up with the idea of the first cryptocurrency, Bitcoin, to help us be able to be less reliant on traditional financial institutions.”

CrossFi eliminates this issue by ensuring that funds remain in the user’s own crypto wallet. Instead of handing over money to a third party, they simply connect their wallet to the CrossFi platform, gaining instant access to banking services, payments, and investments while retaining full control over their assets.

“From our side, we're not keeping your money… with CrossFi, your money is still in your wallet,” he said. “If we look at custodial banks, traditional banks, you give them your money, and they reuse your money for other purposes, and that's where the risk and the problems start happening. When we're saying uncustodial, the money is always with you.”

Crypto debit cards: A new way to spend digital assets

One of the platform’s most anticipated features is its crypto-powered virtual debit card, allowing users to spend digital assets without transferring them to a traditional bank account. By linking a Metamask wallet—with plans to support Trust Wallet, Ledger, and others—users can complete a quick KYC (know-your-customer) process and instantly receive a virtual card.

CrossFi’s upcoming physical card, deliverable worldwide, enables purchases anywhere card payments are accepted, ensuring crypto usability in everyday life.

Breaking barriers: How CrossFi helps the unbanked

While crypto is an accessible banking alternative, many unbanked individuals still face a key challenge: converting fiat to crypto. Since they lack traditional bank accounts, they cannot easily buy digital assets through conventional methods.

Zammit pointed out that in many regions, alternative solutions are already emerging. In places like Nigeria and Venezuela, people are turning to cash-to-crypto exchanges, where they can physically deposit cash and top up their wallets with crypto. CrossFi aims to build on this infrastructure, making it even easier for people to transition into a decentralized financial system.

To further simplify access, CrossFi is developing its own non-custodial wallet, currently in testing and set to launch soon. While users currently rely on exchanges and OTC (over-the-counter) services to convert fiat to crypto, the long-term vision is to minimize reliance on banks and centralized platforms by integrating more direct on-ramp solutions.

The future of crypto banking: What’s next for CrossFi?

Zammit believes that crypto can provide financial independence in ways that traditional banking never could. But regulatory challenges remain, particularly in Europe, where strict laws may slow down adoption.

“If we have a look at MiCA and the implementation of MiCA throughout 2025 we see that in pure essence, it's good regulation. It lays down systems where people can and the industry can grow,” he noted. “In my opinion, in some points it's too tight and will slow down the growth of the industry.”

With governments and financial institutions increasingly recognizing crypto’s impact, the industry is reaching a turning point. Countries facing currency instability and financial restrictions are seeing crypto adoption rise rapidly, making platforms like CrossFi essential for bridging the gap between decentralized and traditional finance.

With rising demand across Southeast Asia, Africa, and Latin America, CrossFi is demonstrating that crypto can be more than just an investment—it can be a gateway to financial freedom.

Listen to the whole interview on The Crypto Radio's live player or in the The Pulse podcast.