Micro banking finance blocks solution completes verification step and secures launchpad on Feb 16 at ProBit Global

Finance Blocks is moving forward with an IEO Premium, ProBit Global’s cornerstone for accelerated early-stage fundraising. As of Feb 16, FBX will look to capitalize on the initial success of the Launchpad feature, which raised $350K for blockchain project Medium and $50K for SportX with its SOX tokens going 4X upon listing. Financial services aimed at serving the disadvantaged, such as cooperative credit societies, continue to be plagued by a lack of oversight and regulation, among many other issues. Finance Blocks sets out to “bank the unbanked”, a common term used in the crypto space referring to the need to increase the breadth of financial services to marginalized communities with unbanked rates in countries up to 71%. Co-founder and CEO Jake Seltzer received the Start-up Leader of the Year award in the Fintech category for his microfinance platform that leverages blockchain technology with a foundation built on Ethereum and Polygon. The team seeks to bridge the financial services gap between rural financial institutes, or RFIs, and the underserved by renewing inefficient legacy infrastructure with their digitally enhanced counterparts. For example, smart contracts will provide “smart credit scores” as a lack of verifiable credit remains a significant hurdle for the unbanked. Thanks to a digital ledger that immutably stores financial data, RFIs can accurately assess financial reliability and assign appropriate credit scores on behalf of users. Transparently stored credit stores can also be verified by other banking institutions through FBX tokens, further democratizing access to financial loans such as EMI at more favorable rates. With the average cost of sending an international remittance during Q1 2021 at 6.4%, FBX will also play a vital role in facilitating affordable international transactions as remittances continue to be crucial to the financial livelihoods of many communities.

About Finance Blocks

Finance Blocks works as a Platform as a Service (PaaS) solution for Rural Financial Institutions through which they can digitize their banking process. Finance Blocks is backed by cutting-edge technology that enables institutions to provide seamless financial offerings to rural populations. Finance Blocks has integrated the Polygon protocol and intends to send all information to the Ethereum Blockchain. Our ecosystem currently supports 1,000 transactions per second. The platform seamlessly connects to national identity systems and extends a secure repository for user identification data on the blockchain.

About Probit Global

ProBit Global is one of the top 20 cryptocurrency exchanges in the world serving cryptocurrency enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 800+ altcoins across 1,000+ markets. PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS 200,000+ community members 1,000,000+ monthly active users 3,000,000 monthly web visitors 50,000,000 users on aggregators and partner wallets such as CoinMarketCap Website User Interface multilingual with support for 46 different languages ​​Marketing and community support in 11 main languages ​​Join our active programs and get huge benefits! Trading fee discount: Buy PROB, pay trading fees with PROB and get a trading fee as low as 0.03% ProBit Exclusive 50% off Top 200 Tokens Auto Hold Campaigns: Keep the tokens and get 6 % annual return For more information visit: Website: http://www.probit.com
Telegram: https://t.me/ProbitPortuguese Disclaimer: This article is for informational purposes only, does not constitute investment advice or an offer to invest. CriptoFácil is not responsible for any content, products or services mentioned in this article. Also read: Revealed: cryptocurrencies that can make BRL 5,000 become up to BRL 1 million Read also: Clash Cards Champions: the promising NFT card game Read also: Shib Scooby a project that promises to unite social actions, PET adoption, NGO, NFT and Play to Earn