1. Overview

Last updated 5 months ago

1. Overview

The Fiat24 project is operated by SR Saphirstein AG domiciled in Zurich Switzerland. On 12.Feb.2021, the company was officially granted the Fintech Bank License from the Swiss Financial Market Authority (FINMA). () One point worth highlighting is that this license allows us to operate a bank in a completely new way. Fiat24 has three technical innovations compared to traditional banks: 1) All client ledgers are booked on a public blockchain (Arbitrum One) instead of in a centralized database, 2) NFTs are used as the client authentication mechanism, 3) All bank operating logic is completed by smart contracts. By implementing the concept of Tokenized Deposits, we are effectively creating the fourth form of fiat money (alongside cash, coins, and digital balances in e-banking). Fiat24 aims to erase the line between fiat and crypto in four strategic steps.

*****************************

A milestone worth highlighting is that in July 2023, we issued a co-branded Visa card with Arbitrum to commemorate the first booking of Visa transactions on Arbitrum One.

*****************************

References:

Project Links:

Point of Contact’s Information:

TG handle: @YL_83051
WeChat: CH83051902

Next2. Fiat24's three pillars

Last updated 5 months ago