Cryptocurrency

U.S. Based and SEC Regulated Platform, Unbanked, continue to Grow despite Crypto Winter

Unbanked, a U.S.-based company founded in 2018 and regulated by the Securities and Exchange Commission (SEC), is confident that the crypto markets will weather the current storm and recover in the weeks and months ahead. 

Assurance amid Crypto Winter

In a recent tweet, Unbanked said they are building and continuing to serve their broad client base regardless of market conditions. The post acknowledged the cyclic nature of the financial markets and crypto. Notably, crypto is an emerging asset class. After years of isolation, the sphere’s boom in the past two years was in sync with the general expansion due to cash injections by central bankers as they tried to spur the economy after a multi-month pandemic.

The fall of many centralized crypto-related companies negatively impacts market confidence. It prevents users from utilizing the technology despite its advantage. Over the past years, when crypto prices peaked in November 2021, asset prices have been tanking, with top coins, including BTC and ETH, dropping by over 70 percent. Meanwhile, Defi total value locked (TVL) has contracted from over $253 billion under management in top protocols in Ethereum, Binance Smart Chain (BSC), and more, to less than $70 billion.

Forging Ahead

Unbanked is nonetheless confident of what lies ahead, considering its wide range of products and services. The platform advocates for financial access and, most importantly, control, citing them as a fundamental human right. Unbanked combines the benefits of crypto and Defi, connecting the technology to traditional finance and curating services to serve the millions of users who would otherwise be cut off from accessing financial services. Through Unbanked, users can make payments using debit cards, transfer directly to banks, and access other legacy financial services.

At the heart of their service delivery, Unbanked notes the critical advantages of cryptocurrencies: utility and efficiency. They then leverage these benefits and tap the familiarity of the traditional financial system but with additional perks. As a U.S.-based firm sufficiently regulated by the SEC, Unbanked allows clients drawn from over 200 countries to get an FDIC bank account whenever they buy crypto through Unbanked rails. At the same time, clients from the U.S., U.K., and EEA can get a card for spending crypto at their convenience. Unbanked has said clients in LATAM, Canada, India, Nigeria, and others will receive Unbanked Debit Cards from Q1 2023.

Superior Technology, Awards     

Besides being regulated, Unbanked technology is top-notch and used by leading players in crypto, including the Litecoin Foundation, StormX, Nexo, and Stacks. The platform also works directly with banks and visa networks. Currently, Unbanked is the Visa Enablement Partner and Program Manager. Moreover, they are the Program Manager for MasterCard and were directly involved in launching AMEX’s first NFT card. For their various roles in driving adoption and banking the unbanked, the platform was voted by Kevin O’Leary voted Unbanked the winner of a Shark Pitch. At the same time, Inc. 5000 named Unbanked the 327th fastest growing company in the U.S.

UNBNK Tokenomics

The UNBNK token by Unbanked is on Ethereum and the Stellar Network. As a utility, UNBNK is the base spendable asset on the debit card. On depositing BTC to the      Unbanked, it is converted to UNBNK until it is spent. Users can also stake UNBNK to receive between one and six percent in card spend rewards. Rewards earned depend on the number of UNBNK held.

Marcus Patel

Marcus have experience in equities research with 2+ years of experience in the investment firms. Starting 2017 he deep down into the cryptocurrency market and helped 6+ projects with content marketing and communications. True fan and early investor of Dogecoin, Shiba Inu and Monero.

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Marcus Patel

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