One of the most frustrating things for crypto users all around the world is a lack of a robust platform that can connect the traditional financial world with the crypto ecosystem. While several platforms have brought financial services such as lending, borrowing, and trading to the crypto ecosystem using DeFi functionalities, there is no direct link between the two worlds.
You can easily trade between crypto using exchanges, wallets, and several DeFi protocols, but using crypto-asset in the real world is challenging to say the least. To cope with both worlds, users have to divide their assets which results in an effective system. Scallop is a DeFi enabled neo-bank with blockchain at its core which can effectively bridge the gap.
Scallop, World’s first DeFi Powered Bank
Scallop is an FCA-approved DeFi banking ecosystem that offers a faster and efficient way to manage crypto and fiat assets in a single place. The platform can tie your digital wallet with banking services and bridge the gap between fiat and cryptocurrencies in a single digital environment.
It is a multi-faceted platform that uses cutting-edge technology paired with the latest financial trends to deliver a one-stop solution to its users. Scallop has a robust suite of products that helps it to tackle various challenges the industry currently faces.
- Scallop Earn – Collateralized borrowing and lending using fiat and cryptocurrencies.
- Scallop NFT – Purchasing and Selling digital content using its NFT marketplace.
- Scallop Banking Accounts – EUR/GBP banking account for daily use.
- Scallop Cards – Physical and virtual debit cards.
- Scallop Pay – Pay using crypto and DeFi tokens for goods and services.
- Scallop Multi-Currency Wallets – To store and spend different fiat and cryptocurrencies.
- Scallop Money Transfer – To transfer fiat currencies to anyone around the world using cryptocurrencies.
- Scallop Exchange – A place to convert crypto and DeFi tokens to fiat currencies and vice versa.
- Scallop Cold Wallet – To exchange and store both crypto and fiat assets directly from the cold wallets.
- Scallop Chain – To enable cross-chain financial applications on Polkadot.
Clearly, Scallop has a lot to offer, but the list doesn’t end here. The company was recently incubated by MahaDAO that will help the company launch a robust- bank-grade ecosystem and bring DeFi-NFT Banking services to the crypto environment. MahaDao will support Scallop as a long-term partner and grow its ARTH universe.
Clearly, it is a big step for Scallop as it will help the company to strengthen its functionally and provide the best service possible to the whole crypto community.