As the need to provide billions of people with unlimited access to financial services intensifies, Unbanked, an SEC-registered project based in the United States, has launched to eliminate the “unbanked” problem. Founded in 2018, Unbanked is committed to connecting decentralized finance [DeFi] and cryptocurrencies to traditional financial institutions.
Unbanked commingles the efficiency, utility, and competence of blockchain-based currencies with the hassle-free nature of financial institutions. This innovative project prioritizes global accessibility and is continuously onboarding more users in absolute compliance with existing regulations.
Unbanked allows users to go beyond the conventional banking approach, introducing a modern, convenient model that enables you to take full advantage of a series of revolutionary, crypto-enabled products. By utilizing the true potentials of blockchain, one of the most innovative technologies of this century, Unbanked reduces transaction processing time, realistically guaranteeing faster payment settlements.
How Unbanked is Connecting Cryptocurrencies to Traditional Banking
Unbanked introduces banking without borders as one of the core features. Users like yourself can make payment settlements, purchase cryptocurrencies, and execute transfers through intuitive and advanced bank accounts. These services are available in over 200+ countries, including Nigeria and Indonesia—two of the countries with some of the most unbanked people globally.
Another exciting yet innovative way Unbanked connects cryptocurrencies is through borderless transactions. While its crypto-friendly, advanced financial tool can track every expenditure, Unbanked takes it up a notch by introducing borderless transfers; whether you are making payments to your suppliers or friends, you are confident of faster, more convenient, and cheaper transactions.
The UNBNK token, the project’s base currency, is yet another feature of Unbanked that proves its commitment to connecting DeFi to traditional banking. A deflationary token—one in which the maximum supply continues to decrease as demand increases—UNBNK is the spendable asset on the debit card. Once you deposit BTC or ETH to the Unbanked platform, it is instantaneously converted to UNBNK and securely stored on the card. Unbanked further introduced a reward model where cardholders can stake a percentage of their holdings to earn between 1 to 6% back in crypto rewards.
UNBNK currently has a maximum supply of 999,775,894 tokens and is available on the Ethereum and Stellar blockchains. Unbanked employs a mint mechanism to guarantee a balance between these chains. For transparency’s sake, users can monitor UNBNK tokens on both the Stellar and Ethereum networks.
How Unbanked Works
Besides the fascinating features, Unbanked seeks to facilitate faster crypto transactions. Users can effortlessly buy BTC, ETH, and UNBNK directly from their banks in a shorter period. Unbanked deploys sublime aggregators to provide you with the best prices across multiple exchanges.
Getting started on Unbanked is straightforward. You simply need to sign up, complete the KYC form, connect your fiat account, and enjoy the best banking experience. You can also get a crypto debit card for spending your crypto at merchants that support VISA and Mastercard.
Project Accomplishments and Roadmap
Unbanked is committed to guaranteeing faster and better banking services by combining the efficacy of digital assets with the convenience synonymous with conventional banking. In an attempt to achieve that, Unbanked has partnered with numerous banks. It is the program manager and enablement partner of VISA and has been voted one of the fastest-growing companies in the United States.
It doesn’t end there; Unbanked is the program manager for Mastercard and is going to launch AMEX’s first NFTs. The US-based company provides support to web3 companies like Litecoin Card.
According to the team, Unbanked currently offers crypto cards for residents in the US and Europe. As the company grows, more countries will receive approval to use these crypto cards.
Supported Countries for Crypto Cards and Bank Accounts
If you’re looking for a bank account to buy crypto then it’s likely Unbanked can help here. They currently support residents who live in more than 200 countries. Find the list here.
If you’re a resident of the United States or Europe then you can also get a crypto card for making purchases. Supported European countries are Portugal, Croatia, Bulgaria, Slovenia, Germany, United Kingdom, France, Spain, Poland, Belgium, Greece, Finland, Latvia, Italy, Sweden, Liechtenstein, Denmark, Malta, Lithuania, Slovakia, Luxembourg, Estonia, Norway, Hungary, Czech Republic (Czechia), Romania, Ireland.
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