The BlockBank mobile banking platform, which combines decentralized finance (DeFi) and artificial intelligence (AI) technology, announced on Tuesday, October 26 that it will unveil its mobile and web app by the end of this month. year, according to a Bitcoin. report com.

BlockBank’s app will bring traditional finance and DeFi together in a secure platform that includes Robo Advisor’s AI-based resource for newcomers to the cryptocurrency market and a tiered rewards system that offers to users up to 20% APY.

BlockBank will continue to build on the capabilities and features of Robo Advisor since its inception as an educational resource that provides users with a tailored experience on the BlockBank platform that learns and evolves with customers to understand their habits and their habits. risk profiles to create actionable insights.

The Robo Advisor will also reduce the time users spend on market research and enable automated order management and execution, portfolio creation and management, etc.

All BlockBank app users can earn a high APY on staked crypto tokens including Bitcoin, most ERC 20 tokens, and BlockBank’s native utility token, $ BBANK. The app also offers a suite of decentralized apps (dApps) and gold and silver purchases with cryptocurrency.

The BlockBank app will be available for download from the Apple and Android Play stores.

Related: Next Generation Stablecoins and Payments: Moving Towards Institutional Adoption of DeFi in Europe

Recent data from the International Monetary Fund (IMF) shows that the market capitalization of stablecoins has quadrupled to over $ 120 billion in 2021.

Pavel Matveev, CEO of multi-currency digital wallet and money transfer service Wirex, recently told PYMNTS that these digital assets – central bank digital currencies (CBDCs) and stablecoins – will eventually dominate the market space. payment by cryptocurrency.

Societe Generale-Forge (SG-Forge), a subsidiary of French multinational banking giant Societe Generale (SocGen), requested a loan of up to $ 20 million in DAI stablecoins using bond tokens issued by the bank as collateral. The tokens, recognized by French law, were issued in May 2020 at a fixed interest rate of 0% over 5 years and have been rated AAA by the rating agencies Moody’s and Fitch.

——————————

NEW PYMNTS DATA: DIGITAL BANKING STUDY – THE BATTLE OF BREWING FOR WHERE WE WILL BANK

On: Forty-seven percent of U.S. consumers avoid digital-only banks due to data security concerns, despite considerable interest in these services. In Digital Banking: The Brewing Battle For Where We Will Bank, PYMNTS surveyed more than 2,200 consumers to reveal how digital-only banks can boost privacy and security while providing convenient services to meet this unmet demand.


Source link