According to the World Bank’s Findex Survey, around 1.4 billion adults lack access to banking. According to the United States Census Bureau, over 6 million Americans are “unbanked.” Unbanked people do not have a checking or savings account with a financial institution like a bank.
Because of new technologies, fewer people in developing countries are unable to access banking services. According to the most recent World Bank study, for example, 76 percent of all adults worldwide now have a bank or mobile banking account. There has been significant progress in recent years, but more needs to be done to help people adapt to the digital world more quickly. The Unbanked Project: Blockchain-Enabled Financial Services Access
Unbanked Inc. is working to achieve this goal by utilizing blockchain and other cutting-edge technologies. Unbanked, an SEC-approved firm based in the United States, provides a platform that connects the blockchain and cryptocurrency sectors with the financial services industry.
Unbanked incorporates the privacy and flexibility of crypto assets into the tried-and-true structure of current monetary systems.
Moorwand and Unbanked collaborate to provide card services. Moorland, a payments startup based in London, is assisting Unbanked in its aggressive foray into Europe. Users will be able to use their digital assets to make physical card purchases as a result of this collaboration.
The Unbanked’s top priority is to provide customers with the tools they need to fully govern their crypto assets and improve their banking experience. Unbanked Provides Cutting-Edge Crypto-Powered Cards. Unbanked co-founder and co-CEO Daniel Gouldman reflected on the company’s European expansion, stating that they spent more than two years developing this innovative solution “to make the Unbanked Card available to interested people in Europe.”
Unbanked recognizes the importance of financial access, referring to it as a “basic human right” on its website. To accomplish this magnificent feat, the crypto FinTech firm employs a variety of components, including the company’s exclusive cryptocurrency, the UNBNK. Unbanked card users can fund their accounts with 15 cryptocurrencies, including BTC, ETH, XLM, UNI, and UNBNK. Cardholders can stake UNBNK and earn 1% to 6% cash back on total card purchases with Unbanked. UNBNK is available on Ethereum and Stellar natively (not wrapped) and can be swapped 1:1 (one-to-one) across chains at Unbanked.com.
The primary circulating asset is the UNBNK token. Cryptocurrency deposits, such as Bitcoin, are converted to UNBNK and stored on the card until they are spent. Unbanked: One Of The Most Prominent Names In The European Crypto Card Market. Other major crypto companies in the European crypto card market include Binance, Coinbase, Crypto.com, and Gemini, all of which have introduced similar offerings. Unbanked provides customers from over 200 countries with Federal Deposit Insurance Corporation (FDIC) bank accounts through which they can purchase cryptocurrencies on unbanked.com.