Unbanked, a blockchain-powered tech firm, is spreading its influence across Europe by inking new partnerships and launching its cryptocurrency card program. Unbanked focuses on providing its clients with crypto-friendly banking experiences by combining elements of traditional finance with decentralization.
To fulfill its mission of making cryptocurrencies accessible to the general public, Unbanked has secured several key partnerships in the finance and crypto space and is closely working with banks and card finance networks. It has partnered with VISA as an Enablement partner and program manager and Mastercard as a program manager. Unbanked has also launched AMEX’s first NFT card and partnered with several banks worldwide for international launches.
Unbanked newest initiative, the cryptocurrency card program launched, also benefitted from another partnership established with Moorwand, a payment solution provider which provides card services for Unbanked Inc. This program seeks to solve the problem of cryptocurrency accessibility and utility by deploying cryptocurrency cards for Unbanked account holders, which allows them to hold or spend cryptocurrency as they deem fit.
Unbanked isn’t simply fintech alone; it is its own ecosystem with its native currency, UNBNK, which governs the platform. The UNBNK token is interoperable between the Ethereum and Stellar blockchains. UNBNK can be swapped 1:1 between the two chains on Unbanked.com, making it easy for users to move their tokens as needed.
The UNBNK token serves as the spendable base asset on Unbanked’s debit cards. When users deposit cryptocurrencies like Bitcoin, it is automatically converted to UNBNK and held on their card until they spend it. In addition, cardholders can choose to stake their UNBNK tokens to earn rewards of up to 1% to 6% back on their card purchases.
The UNBNK token has a limited supply, with a maximum of 1 billion tokens. Over time, the number of UNBNK tokens will decrease thanks to staking, withdrawal fees, and other scarcity mechanisms embedded in its tokenomics. This goal is to scarcity and can drive up demand for the token as more users sign up for Unbanked’s services.
Unbanked Inc. has worked with several partners in the blockchain and web3 space, including platforms like Nexo, StormX, Stacks, and the Litecoin Foundation. The Unbanked cryptocurrency card program presents an opportunity for these partners to grow their user base and expand their offerings to users in UK and Europe.
Speaking on the progress of Unbanked, the Co-Founder and Co-CEO of Unbanked, Gouldman, had this to say:
“We’re pleased that our project has made significant headway in bringing the efficiency and utility of digital currencies to the familiarity of the existing financial system. With our technology licensed and utilized by other Web3 organizations, we have a solid business model to support our operations and generate profit towards building even more products.”
When addressing the problem of accessibility and mass adoption, Daniel added:
“A big drawback to mass adoption is the barrier of entry to using digital assets. With our crypto card solution, we have simplified the process of using cryptocurrencies, making them more accessible to the general public, and we cannot wait to share this innovation with our clients in the UK and Europe.”
Unbanked Inc. was founded in 2018 and has worked on its cryptocurrency card solution for two years. Unbanked is a community-backed company with a slew of investors and users of its products. The fintech firm’s primary goal is to facilitate global cryptocurrency adoption via its innovative offerings. The Unbanked team believes in the tenets of decentralization, security, compliance, and privacy and works to integrate these ideas into its fintech solutions.
You can learn more about Unbanked at Unbanked.com or by following them on social media.