SOURCE : Newconomy
Many crypto adorers have been sitting on the fence due to lack of a straightforward way to get their digital wealth into their pockets. FotonBank has a real-world solution; it is the first cryptobanking ecosystem that combines blockchain technology with contactless virtual payments instantly.
As a decentralized crypto banking system, FotonBank it has a unique feature, the inbuilt exchange that takes care of your crypto and fiat transactions. The behind the scene processes allow for contactless settlements for goods and services across the globe. The M-Payment transaction hit over 108 billion and 2019 looks brighter and this is where cryptobanking is set to boom.
A Go-to-Solution Crypto-Fiat Bank
The beauty of the cryptobank is that it eliminates all intermediaries through its native exchange. This creates an interbank environment that is powered by “Light in-house blockchain technology which brings the finance and customer service functions together.”
One feature that stands out for the ecosystem is the simplicity of the processes which comes with drastically reduced fees but highly secured transactions that ride on smart contracts whilst keeping money laundering at bay. What’s more; the platform comes with a decentralized registry ideal to establish and manage high profile and complex social and financial institutions.
Why FotonBank, a Bank for Digital Nomads?
The blockchain potential has never been exploited due to the speculative nature of the digital money markets. The FotonBank entry into the crypto sphere will see a fast and secure link between the virtual currency and fiat. Whether you have different wallets the bank will issue you with a virtual card for instant transactions.
The system locks out intermediaries to offer a native blockchain for your financial transactions, clearing, and safe data storage. In addition, the cryptobank is partnering with other high profile Fintech outfits and data storage service providers to secure your transaction records. As a digital nomad, the bank allows you to access your funds from anywhere, anytime.
FotonBank is highly focused and poised to bridge the banking integration into blockchain void. One aspect that has been missing between the virtual and fiat economies is instant payments when trading between crypto and fiat. It is the first one-stop bank that has an in-house exchange, virtual cards provision, scalable asset management, business as well as counting services.
Key FotonBank Features
The cryptobank is decentralized and offer a lot of transparency and its automated processes connect all the network participants and the deals are secured and utilize the smart contract concept. There is no central authority making it the next generation multicurrency bank.
Unlike most payment processors, Foton offers some of the lowest commissions in the market. On average, the application charges 0.5% with chances of lowers fees which offer a fair trading value proposition. The ecosystem comes with a ready and free to use financial services for its adopters and you are not restricted from communicating with other partners.
With many competing systems facing scalability issues, Foton is scalable and transactions are anonymous all your multicurrency transactions. This is not a geo-targeted cryptobank and you can access your payment from the most remote locations across the globe as long as you have a smartphone.
With Foton, the future is bright as it targets over 4 million people that are actively using crypto to purchase goods and services on a daily basis according to the ecosystems’ whitepaper. With the ease of use and instant conversion from virtual to fiat currency, the crypto adoption rate is set to skyrocket and the cryptobank will be the largest beneficiary.