Dramatic changes in Crypto Bank’s field

3 min readDec 7, 2020

Decentralized banking platforms, unlike stock markets, can operate 24 × 7. In addition, interest rates and other fees for peer-to-peer platforms are determined by the strength of the free market. Peer-to-peer lending platforms have already performed better than central bank lending models, for which conventional banks act as intermediaries, employing hordes of employees to complete each transaction.

Projects

Monaco has conquered this market by partnering with Visa and launching its product in several regions. However, its narrow focus on payments makes it look like a “cryptocurrency PayPal” rather than a broad-service banking platform. Their recent rebranding to Crypto.com also indicates their focus solely on payments.

A relatively new player, BNX Finex bank, looks much more promising, as it is an integrated banking system on the blockchain. It will be a decentralized cryptocurrency bank that will allow exchanging cryptocurrencies for fiat money and making instant payments made using NFC technology around the world. BNX Finex Bank aims to create a large-scale ecosystem that will help provide banking, exchange, virtual cards and accounting services. In addition, the company aims to develop its own cryptocurrency exchange and interbank ecosystem based on the Light blockchain that will eliminate the need for middlemen.

Dramatic changes

The banking industry is ripe for dramatic change. Blockchain and cryptocurrencies are knocking on the gate, and even the former guardians of this archaic system have begun to join the new movement. The efficacy of blockchain technology that will underpin the banking revolution can no longer be ignored.

The future belongs to open markets that will be driven by software code and do not require close human interaction to complete every transaction. A fully automated decentralized platform with a strong governance model will be the future of banking. Such platforms will work not only with cryptocurrencies, but will also provide full support for fiat money and stablecoins.

Conclusion

Thank you for reading this article and for your precious time with me. The team of this project is trying to create something special and unique. We have seen dozens of projects without a single usability and are seeing them disappear. On the other hand, the BNX Crypto Bank has a modern vision and amazing thoughts.

So, in my opinion, BNX Finex has many reasons to be successful. All of them I descibed in my three articles ONE , TWO, THREE. I appreciate this talented people who work in this company.

BNX is the most complete investment ecosystem operating on the blockchain. As one of the first platform platforms to be created, this company wants to understand and help investors solve the economic weakness that many in the world suffer from, in the concept of mutual aid as an investment that registered users can exchange.

Dramatic changes in Crypto Bank’s field

Projects

Dramatic changes

Conclusion

Links

Written by Genius watching