Stage 2: "BaaS" for DeFi

- 40% Done, 90% Completion Target by End of 2025 -

We are connected to global payment networks, such as SWIFT, SEPA, Swiss National Bank, European Central Bank, Visa, and Master. When we receive payment information through these networks (e.g.: Peter spends 10$ at McDonald’s), we synchronize this information to Arbitrum using our booking tokens. In this sense, Fiat24 works in a similar way to ChainLink; we synchronize real-world information to the blockchain through our oracle, allowing it to be used by all smart contracts.

At the same time, because Fiat24 operates on a public blockchain, it can be called by any other protocol. However, without the client's Fiat24 NFT, it is impossible to perform any banking-related operations; all authorizations must be signed by the client using the Fiat24 NFT. In this way, we return the ownership of banking information to the client. Consequently, we have become an open banking system, which is very suitable for integration into their client interface by non-custodial wallets and DEXs.

You might imagine us as an additional fiat layer for the entire DeFi ecosystem. We are already collaborating with significant projects within the Arbitrum ecosystem, including Camelot, and various stablecoin issuers to bridge onchain assets to the fiat world.

Fiat24 is also an inevitable component for non-custodial crypto wallets - we have already been successfully integrated by THORWallet,Halo Wallet (prev. Kucoin Wallet); SafePal; with Trust Wallet, imToken, and BitGet all coming next.

Reference Links

· THORWallet (VultiWallet)

· Halo Wallet

· SafePal Wallet

Several major wallets have either already started integrating Fiat24 or have agreed to integrate Fiat24 as a native feature. They are ImToken, Bitget, Bybit, and Trust Wallet.

Apart from non-custodial wallets, nearly all DeFi protocols (application layer) and even other layer 1 and layer 2 protocols beyond Arbitrum (infrastructure layer) can benefit from Fiat24, as it is currently the only solution on the market that synchronizes TradFi payment system information with the DeFi world, acting as a unique "oracle." Blockchains such as Solana, Conflux, BSC, Mantle, and Morph have also expressed interest in deploying Fiat24’s contracts on their networks.

Fiat24 aims to be an indispensable infrastructure layer for the DeFi ecosystem by connecting the DeFi world with the TradFi (real) world.