The popular global fintech blockchain platform Ternio is undergoing a transformation, starting with its name. Having rebranded itself to “Unbanked”, the platform is consolidating its enterprise and consumer financial offerings including the flagship BlockCard under a single roof to provide a better experience to its diverse userbase.
According to the recent announcement, Ternio kicked off the rebranding exercise on May 18th, starting with the unveiling of a new company logo, branding and messaging along with a launch of a new video. The new name also resonates with Ternio’s mission to make financial products accessible to everyone including the unbanked and reducing the dependency on traditional banking institutions at the same time – encouraging them to go “Unbanked”.
Unbanked is also preparing to launch a whole suite of financial products under the new banner. Few of these new launches are scheduled to coincide with the brand’s full-fledged consumer and enterprise launch across sales and marketing channels on June 30, 2021. These upcoming products include FDIC-insured bank accounts, debit cards, crypto exchange, rewards programs and more. These products will work seamlessly with each other and the existing BlockCard to solve some of the prominent issues in the crypto ecosystem.
Bridging the Gap Between Traditional and Crypto Finance
Blockchain technology and decentralized finance are considered as the solution to achieve universal financial access. Unbanked is making use of the technology and combining it with traditional banking solutions to provide easily understandable, user-friendly financial instruments.
Introducing Unbanked, co-founder Ian Kane said, “ We could not be more excited about introducing Unbanked to the world. The demand for crypto-focused financial services has caused companies to create a patchwork of offerings that only address a handful of needs at a time. Unbanked offers our customers a more complete blockchain-enabled banking experience that is faster, lets them have greater control of their crypto, and cuts down on cost-prohibitive fees.”
Under the Unbanked brand, Ternio’s initial mission to provide FDIC-insured bank accounts to the US residents has been expanded to include the entire world population. These accounts will be crypto compatible with an option for users to hold their assets in a decentralized wallet. The debit cards in both digital and physical format can be connected to the Unbanked bank account or crypto wallets to spend digital currencies in real-world, just like they would spend fiat. The virtual card can also be used with payment applications like Apple Pay, Samsung Pay or Google Pay. Spending with an Unbanked card also earns up to 6.38% crypto cashback as part of the staking program.
The Unbanked ecosystem supports 12 different cryptocurrencies, allowing users to not only deposit but also purchase directly at the best possible rates aggregated from multiple exchanges.
Empowering Others to Follow its Lead
The Enterprise Financial Solutions suite on the Unbanked ecosystem includes white-label card issuance, bank accounts and financial toolkit APIs that can be used by businesses and other organizations to implement their own blockchain financial products. According to Unbanked, its enterprise products are already used by few leading platforms like Paxful and Litecoin foundation.
Unbanked will continue to expand its reach while launching innovative, tailor-made financial products to meet the evolving needs of banked, unbanked and underbanked communities.