What is white label site?

Excuse me, could you please clarify what you mean by "white label site"? I'm familiar with the term in various industries, but it's not a universally understood phrase. In the context of cryptocurrency and finance, is it referring to a platform or service that can be customized and branded under the name of a third-party company, essentially allowing them to offer a pre-built solution under their own brand without having to develop it from scratch? Or is there a different interpretation specific to this field? I'd appreciate your insight.