According to numerous statistics, a whopping 1.4 billion people are unbanked—that is, they do not own an account at any of the traditional financial institutions. While there have been significant improvements in the last couple of years, more work is needed to embrace the digital world faster. Unbanked, through blockchain and cutting-edge technology, hopes to achieve that.
Unbanked is a US-based, SEC-registered company that aims to connect cryptocurrencies and decentralized finance [DeFi] to traditional financial institutions, debit cards, etc. Through blockchain technology, Unbanked is introducing global accounts focused on cryptocurrencies. Unbanked is committed to empowering users to take absolute control of their currencies and enjoy a better banking experience.
The team combines the utility and efficiency of cryptocurrencies with the level of familiarity synonymous with traditional financial institutions. Unbanked prioritizes global accessibility—onboarding as many users as possible in compliance with regulatory laws.
Features of Unbanked
Unbanked understand the importance of financial access—the website describes it as a fundamental human right. This US-based project will enable financial access at all levels through blockchain technology. Unbanked espouses many features, such as the UNBNK token, to achieve this magnanimous feat.
As the native token on the Unbanked project, UNBNK serves as the spendable asset on the debit card. When you deposit cryptocurrencies like Bitcoin or Ethereum, it is immediately and automatically converted to UNBNK and held until you spend it. It continues; Unbanked cardholders can seamlessly stake UNBNK and earn between 1% to 6% back in total card spend rewards.
UNBNK is actively available on the Stellar and Ethereum blockchains, and with a maximum supply of 1 billion, Unbanked employs a burn mechanism to restore balance to the token across chains. Additionally, UNBNK is a deflationary token, meaning that the maximum supply will continually decrease as more users are onboarded over time.
In addition to the UNBNK token, Unbanked boasts a better financial banking experience. The project’s intuitive bank accounts provide United States residents with a global, accessible, and crypto-friendly financial tool capable of tracking everything—spending, purchases, transfers, etc.
Unbanked also guarantees seamless cross-border transactions as an added feature. While there are many international payment gateways, Unbanked delivers a faster, cheaper, and more convenient option.
You can make cross-border payments with Unbanked. In a hassle-free manner, you can buy BTC, ETH, and the UNBNK token with your bank account. That's not all; Unbanked guarantees instant payments, eliminating delays associated with traditional purchases to a greater degree. Super-fast crypto purchases commingled with instant settlements are some of the other features of Unbanked.
Accomplishments of the Unbanked Project
As one of the most innovative projects in the DeFi, crypto, and traditional spaces, Unbanked, since its launch, has committed to delivering a sublime banking experience. Residents of over 200+ countries can conveniently get FDIC bank accounts to buy cryptocurrencies.
US and European residents, on the other hand, can get Unbanked crypto debit cards. According to the team, these cards are already available in the US and Europe with more regions coming in the next few months such as Latina America and India.
Unbanked has partnered with various banks and card networks. It is currently a VISA and Mastercard program manager, and per recent reports, Unbanked could launch AMEX’s novel NFT cards. Additionally, Unbanked provides card and technology support to a few web3 companies like Litecoin Card.
Crypto Card Availability
With many crypto card companies recently shutting down, the availability in certain regions as have been limited. If you are a resident of the following countries than you can register for a card now.
