BVNK creates a unified and stable currency wallet
BVNK, a financial technology company, launches an integrated portfolio that unifies cash payments (fiat) and in stable global. Its aim is to make payment systems interoperable in stablecoin, crypto And fiat.
FACTS
The BVNK project gives access to cash payment (fiat), crypto and stablecoin, with direct access to the main blockchains and payment systems via a common wallet.
The means of money transfer provided by BVNK are as follows: Swift, ACH, Fedwire, Sepa, FPS, Solana, Tron, Polygon, Ethereum, BNB Smartchain, Bitcoin and Cardano.
These companies allow customers to store, spend and be paid in stablecoins and fiat, and exchange between the different balances.
The wallet also offers automatic conversion features between stablecoins and cash.
An API (programming interface) allows companies to integrate the wallet and offer their customers storage, payment and conversion between stablecoins and fiat.
BVNK aims to make payment systems in stablecoin, crypto and fiat interoperable, in order to offer greater flexibility to its customers.
ISSUES
Making cross-border payments more accessible: Simon Griffin, Product Manager at BVNK, explains that stables allow fast-track global payments 24 hours a day, 7 days a week and 365 days a year.
Facilitating the accounting management of a business: By converting payments into stablecoins (less volatile) into cash (such as euros or dollars) companies are not forced to directly hold cryptocurrency in their balance sheet. This simplifies financial management and ensures compliance with financial regulations.
Reducing the gap between traditional finance and cryptocurrency: BVNK aims to bring stablecoins, cryptocurrency and currency together. By doing so, the company positions itself as a key player in bringing traditional and digital finance closer together.
PERSPECTIVE
BVNK has few competitors but Uniswap recently introduced the conversion of cryptos into cash from the Uniswap Wallet.
Despite progress in integrating traditional and digital payments, transfers between fiduciary currencies and stable currencies remain complex due to regulatory and supervisory constraints.
The International Monetary and Financial Committee (IMFC) stresses the need for close monitoring and strict regulation of the cryptoactive ecosystem, including stablecoins, to ensure financial stability.
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