MinePlex, a CrossFi platform that combines traditional financial instruments’ stability and liquidity with the security and transparency of blockchain technology, is developing a mobile cryptobank that will make it easy for the average person to spend cryptocurrencies in everyday purchases like food, shopping, and even paying bills.
According to the whitepaper, the project’s main goal “is to remove restrictions on the purchase, sale, and use of cryptocurrencies. Using the mobile app, the client will be able to safely store, trade, and borrow against digital and traditional assets. All this on just one platform.”
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The platform’s biggest audience is people using mobile phones with over 3 billion users today. This figure is expected to reach 3.6 billion by 2024. Mobile banking is gaining popularity fast worldwide thanks to convenience, speed, accessibility, and other economic benefits. The fact that you don’t have to visit a physical bank is an added plus. The number of people using mobile banking services is expected to hit 85 million by 2023.
MinePlex banking solution will offer the maximum benefits of cryptocurrencies combined with those of mobile banking technologies such as reduced costs on the application, saving time, reliability, and security of funds.
The ecosystem comprises a mobile cryptobank where users can exchange different currencies, create savings, move funds between accounts, take loans, store both crypto and fiat, etc.
There is a multi-currency wallet that will aid fast and easy use of cryptocurrencies. Initially, this wallet will support the project’s native tokens MINE and PLEX, with 20 more currencies added by spring 2021, including BTC, ETH, and USDT.
Then there is a P2P exchange that will allow buying and selling of crypto quickly among users at the best rates. It will be tied to your account, saving time and simplifying the exchange process. This exchange will accept various fiat currencies to facilitate payments.
Finally, there is the MinePlex debit card that will help users use digital currencies anywhere without restrictions and overpaying fees. All service benefits will be accessible using the project’s native tokens. And the card will be compatible with payment systems such as Visa, MasterCard, and UnionPay.
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