Global fintech platform Ternio has integrated with Plaid, a financial data company powering thousands of digital apps and services, to bring connectivity and accessibility to Ternio BlockCard bank accounts. This integration will enable customers to connect their financial accounts to their BlockCard bank accounts faster and more securely while providing ongoing transfer support as needed for users to move their funds.
Through the Plaid integration, users will be able to instantly authenticate their existing bank accounts in order to make transfers to their crypto-friendly BlockCard bank accounts. Plaid allows users to securely link their bank account almost instantly by using their login credentials rather than depending on manually verifying two small micro-deposits. In addition to improving the user experience, Plaid’s technology could also help reduce fraudulent activity.
Ternio began allowing US-based customers to activate their FDIC-insured BlockCard bank accounts earlier this year. These crypto-friendly bank accounts function like typical checking accounts, with the added benefit of allowing users to deposit to their BlockCard debit card or purchase cryptocurrencies like Bitcoin via various crypto exchanges within their BlockCard dashboard. The bank accounts are a part of a larger suite of Ternio banking products aimed at furthering the adoption of digital currency payments.
Plaid’s technology powers the digital tools that millions of people rely on to improve their financial lives. By integrating with Plaid, Ternio is adding another link to the bridge that connects the worlds of cryptocurrency and traditional financial systems. Plaid enables consumers to connect financial accounts at over 11,000 institutions worldwide to over 3,000 apps like Venmo and Acorns.
“Integrating with Ternio can help streamline account connectivity and reduce fraud for crypto account holders,” said Paul Williamson, Head of Sales and Partnerships at Plaid. “Plaid’s consumer-permissioned data network will safely support account holders and the greater crypto community as it grows in users and adoption.”