Blockchain and Crypto Innovations Merge with Financial Services

Today more and more blockchain and crypto-related projects are entering the financial market offering competitive advanced services.

Innovations around blockchain and crypto tech have been on the rise since Bitcoin’s first transaction a decade ago. Despite the regulatory hurdles, this industry emerged as a force to reckon with especially after Facebook’s digital currency proposal Libra.

More so, a number of blockchain and crypto oriented projects are popping up in relation to the financial services industry. Some have actually proven their use case while others happen to be crypto scams disguising as ICO projects. This has since forced regulators across the world led by the U.S SEC to take swift action in fraud elimination.

Nonetheless, they’re currently a few innovations leveraging blockchain and crypto whose integration has been quite smooth.

Cryptocurrencies were born to revolutionize the financial sector by reducing transaction costs, introducing privacy, and improving on convenience. However, to build a bridge between these two worlds, crypto debits cards are steadily taking their place in the financial system.

Let’s sample two of them:

1. Plutus

The fintech firm is based in London and has been in existence since 2015. Plutus awards its users with its native PLU loyalty token each time a user puts the debit card into use. Notably, Plutus recently increased its PLU rewards to 3 percent of the total purchase value. Interestingly, instead of Plutus managing users’ access to their cryptocurrencies, the debit card applies a noncustodial approach letting its users have complete control of their cryptos’ private keys.

Apart from allowing topping up with ETH and PLU tokens, the debit card supports fiat top-up of EUR or GBP. Plutus views itself as being better than a bank. To bring it closer to daily usage, Plutus card users can use the card to pay for goods and services in more than 400,000,000 merchants supporting Visa worldwide.

An additional new feature on…

Source Link