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According to the World Bank’s Findex Survey, around 1.4 billion adults have no access to banking. In 2021, over 6 million people in the United States were considered to be “unbanked.” This term refers to households in which no members have a checking or savings account with a financial institution such as banks.
There are now fewer people in developing countries who cannot access banking services because of new technologies. According to the most recent World Bank study, for example, 76 percent of all adults around the globe currently have some sort of bank or mobile banking account.
There has been a lot of advancement made in the last several years, but more has to be done to help people adapt to the digital world more rapidly.
The Unbanked Project: Easy Access To Financial Services Using Blockchain
Unbanked Inc. is working toward this goal with the help of blockchain and other cutting-edge technologies.
An SEC-approved firm headquartered in the U.S., Unbanked provides a platform connecting the blockchain and cryptocurrency sectors with the financial services industry. Unbanked Integrates the privacy and versatility of crypto assets into the tried-and-true structure of current monetary structures.
To this effect, Unbanked is bringing its crypto card program across the European continent. The crypto FinTech (financial technology) firm based in New York City revealed last week that it had begun offering its cryptocurrency card program to UK customers and select European cities.
Unbanked Partners With Moorwand To Provide Card Services
Moorwand, a payments startup based in London, is helping to kick off Unbanked’s aggressive foray in Europe. By virtue of this partnership, users will be able to use their digital assets to make purchases with physical cards.
Providing customers with the tools they need to fully govern their crypto assets and upgrade their banking experience is a prime concern for Unbanked.
The size of the world’s FinTech market is projected to increase at a compound annual growth rate of 21% between 2020 and 2030, from an estimated $110.6 billion in 2020 to $700 billion.Unbanked will be part of this phenomenal growth.
Unbanked Offers You Cutting-Edge Crypto-Powered Cards
Daniel Gouldman, co-founder and co-CEO of Unbanked, reflected on the company’s European expansion by stating that they spent more than two years developing this innovative solution “to make the Unbanked Card available to interested people in Europe.”
“It’s great to know that with this launch, we will be able to provide residents in the U.K. and parts of Europe access to one of the most innovative crypto-powered cards in the market,” Gouldman pointed out.
Financial Access – A Basic ‘Human Right’
Unbanked recognizes the significance of financial access, describing it as “a fundamental human right” on its website. To achieve this magnificent undertaking, the crypto FinTech firm employs diverse components, such as the company’s exclusive cryptocurrency, the UNBNK.
Users can load their Unbanked card account with 15 cryptocurrencies, including BTC, ETH, XLM, UNI and UNBNK. Unbanked enables cardholders to stake UNBNK and earn between 1% and 6% cash back on total card purchase.
UNBNK is available natively (not wrapped) on Ethereum and Stellar and can be swapped 1:1 (one to one) across chains at Unbanked.com.
The UNBNK token functions as the primary circulating asset. Deposits of cryptocurrencies like Bitcoin are converted to UNBNK and stored on the card until they are spent.
Initially, UNBNK had a maximum supply of 1 billion. To maintain a stable supply of UNBNK on both Stellar and Ethereum, the mint/burn method is occasionally employed.
Deflationary effects of UNBNK can be seen in the form of a 2% fee assessed to users making UNBNK withdrawals from their Unbanked.com dashboards.
At the time of writing, the sum of the maximum supply of UNBNK Ethereum and UNBNK Stellar was 999,800,849.
Unbanked was declared the winner of a Shark Pitch by Canadian businessman, entrepreneur, and television personality Kevin O’Leary (aka “Mr. Wonderful”), and Inc. 5000 ranked Unbanked as the 327th fastest growing company in the United States.
Unbanked: One With Some Of The Biggest Names In The European Crypto Card Market
Among the other major crypto companies in the European crypto card market are crypto exchanges such as Binance, Coinbase, Crypto.com, and Gemini, which have all introduced similar offerings.
Unbanked offers customers from more than 200 nations with Federal Deposit Insurance Corporation (FDIC) bank accounts so they can acquire cryptocurrencies on unbanked.com.
Some of the most well-known companies in the Web3 industry, including Litecoin Foundation, Nexo, StormX, and Stacks, to name just a few, have obtained complete licenses to use Unbanked’s technology and have implemented it in their products.
In accordance with the vision of its founders, Unbanked has evolved into the ideal platform for bridging the stability and structure of conventional financial institutions with the flexibility that decentralized finance (DeFi) gives its customers.
Where To Avail Of UNBNK?
Currently, Uniswap, Sushiswap, and Lumenswap are the only centralized exchanges that support UNBNK. Unbanked.com is another place to buy UNBNK.
Uniswap: https://app.uniswap.org/#/tokens/ethereum/0x06b884e60794ce02aafab13791b59a2e6a07442f
Sushiswap: https://www.sushi.com/swap
LumenSwap: https://amm.lumenswap.io/swap/XLM/UNBNK
Unbanked: https://unbanked.com/
Social Links
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