The Crypto Wallet and Banking Module Revolution

On Apr 8, 2024

Join Our Telegram channel to stay up to date on breaking news coverage

In an effort to simplify the conversion of cryptocurrency to fiat currency, Fiat24, a Swiss financial institution, has teamed up with SafePal, a provider of crypto wallets, to introduce a new banking service integrated with a crypto Visa debit card. This collaboration is set to make waves in the decentralized finance (DeFi) sector, which, despite its advancements, has been facing challenges in facilitating easy crypto-to-fiat conversions for users.

Simplifying Crypto-to-Fiat Conversions for DeFi Users

The current process of converting cryptocurrencies into fiat is fraught with complexities, involving multiple steps that are time-consuming and often come with the risk of high fees and delays. To reduce slippage fees on decentralized exchanges (DEX), users typically split their orders across multiple trades, further complicating the process.

The partnership between Fiat24 and SafePal aims to address these issues by launching a crypto Visa debit card along with an in-app banking service. This initiative is designed to bridge the gap between digital assets and traditional banking, providing users with a seamless experience for managing their finances across both realms. The banking module, which operates independently from the wallet, allows for integration with various DeFi protocols and offers a fiat gateway that is accessible for both centralized exchanges and DEXs like Uniswap.

Streamlining the Conversion Process for DeFi Enthusiasts

Fiat24 is a Swiss-licensed financial entity that leverages public blockchain technology to facilitate transactions, operating on the Arbitrum blockchain for enhanced transparency and security. The platform provides a unique blend of DeFi and traditional banking (TradFi) services, acting as a dynamic bridge between the digital and traditional financial worlds. Users can utilize their Swiss IBAN for transactions while connecting to their preferred noncustodial crypto wallet, accessed via the Fiat24 nonfungible token (NFT).

The platform’s modular banking protocol allows for independent operation or seamless integration with various DeFi protocols, including DEXs, lending platforms, and staking services. This flexibility is achieved through the Lego principle, enabling versatile combinations with other DeFi elements.

SafePal, Fiat24’s new partner, offers a comprehensive suite of crypto wallet solutions, including hardware wallets, mobile apps, and browser extension wallets. Supported by industry leaders like Binance Labs and Animoca Brands, SafePal has been serving over 10 million users worldwide since 2018, supporting a wide range of blockchains and tokens.

The joint service utilizes USD Coin (USDC) as the default deposit currency, in collaboration with Circle, a global financial technology firm. This choice aims to mitigate onboarding challenges for newcomers to the crypto space by leveraging one of the most widely-used stablecoins. Through their collaboration with Circle and focus on USDC, Fiat24 and SafePal are setting a new standard for ease and effectiveness in converting digital currencies to fiat, broadening access and simplifying the introduction to digital finance for users globally.

As this partnership continues to unfold, it holds the promise of unlocking new possibilities for financial autonomy and inclusivity, heralding a new era where managing digital and fiat currencies is not just possible but effortless.

From today, if you participated in the March Referral Program, you can claim your rewards directly in the Fiat24 dApp!
Thanks to everyone who participated and stay tuned for upcoming opportunities to earn! $ARB #fiat24 #F24 #rewards #earn pic.twitter.com/CJHmJEhMHT
— Fiat24 Spend your Crypto (💙,🧡) (@Fiat24Account) April 5, 2024

Unleashing Smog: The Solana Meme Coin Set to Transform the Market

In the ever-evolving world of cryptocurrency, Smog emerges as a unique Solana-based meme coin, distinguishing itself not through a traditional presale, but through an innovative approach to airdrops. Unlike typical giveaways that reward long-term holders, Smog introduces a gamified system. Participants are encouraged to complete tasks or quests, earning airdrop points along the way. The more points accumulated, the larger the share of the airdrop, promising lucrative early-moving advantages akin to those seen in prominent crypto presales of 2024.

Smog captivates the crypto community with its dragon-themed aesthetics, adding a layer of intrigue and fantasy to the Solana blockchain. It positions itself as a fiery contender ready to breathe new life into the meme coin sector, signaling a resurgence in the appeal of such investments. This unique blend of storytelling and design has propelled Smog to notable success immediately following its launch.

Upon its introduction to the market, Smog’s value skyrocketed, recording a 1500% increase within just three hours on Jupiter DEX. Its momentum didn’t stop there; in the days that followed, it achieved an astonishing 4500% growth, underscoring the crypto community’s enthusiasm for this new entrant. This surge in value highlights the considerable interest in Smog and underscores the potential benefits for investors keen on participating in its innovative airdrop system.

Further enhancing the Smog ecosystem are additional features such as staking, alongside the activation of an ETH-bridge. This development enables the purchase of Smog with Ethereum, broadening access for potential investors. Purchases can also be made directly through the Smog website, simplifying the process for newcomers.

A recent update from CoinMarketCap cements Smog’s standing in the crypto world. It has outperformed popular meme coins like Pepe and Dogecoin in terms of weekly gains, highlighting a growing fascination with Solana-based meme coins among investors. This data not only showcases Smog’s rapid ascent in the market but also signals its potential to become a top contender among meme coins with high upside potential.

Visit Smog