Looking at the development of the digital economy on a global scale, although the views of countries on policy and market environment issues are not consistent, the overall scale of the digital economy is still erupting. Judging from the current ability of the digital economy to absorb gold, it is likely to become a key area for the entry of funds in the future. At the same time, there is an urgent need for corresponding supporting services to meet the ever-changing needs of the market. COINBANK is a new digital banking service system launched by the COINBANK team in cooperation with the CJSC Bank of Asia. What we need to do is to provide services to solve these problems.
Cooperative distribution of stable assets, global BTM terminal deployment
The operating terminal of COINBANK project – COINBANK BTM is the digital asset trading operation terminal developed by COINBANK team and Guangdian Express. The full name of BTM is Blockchain Teller Machine, which has been launched in many countries and regions around the world, such as Kazakhstan. Astana and the Caribbean region of South America, where we have reached a cooperation framework agreement with Astana to provide COINBANK services to local unemployed people to use BTM to receive unemployment insurance benefits.
The basic function of COINBANK BTM is to make it easy for users to convert legal currency into corresponding stable digital assets, such as CK.USD and USDT, and process them at a second rate. When the user has the need to use local currency for cross-border consumption, the user can convert the stable digital assets held into the corresponding legal currency in the place where the BTM terminal has been deployed to complete the cross-border operation. Currently, the BTM has It supports local legal currency in many countries and regions around the world to meet the needs of different customers.
Compared with the digital asset trading terminals that have appeared on the market before, the cooperation with COINBANK APP is the advantage of COINBANK BTM. As the leading encrypted data communication platform in the blockchain industry, COINBANK APP can realize the requirements of encrypted communication in various scenarios. For example, COINBANK APP can pre-set access points for multiple digital asset exchanges. COINBANK users can directly go to the corresponding exchanges for trading when using COINBANK APP, and can transfer digital assets to COINBANK APP as easily as transfers between WeChat users. Friends on. Currently COINBANK APP has supported multi-exchange digital asset management, and CAPSS will also support local wallet services in the future. In addition, COINBANK APP integrates all interfaces associated with the exchange and COINBANK BTM, and opens the interface to more exchanges for easy access to the lowest matching digital asset prices. COINBANK APP also adopts the internationally accepted KYC certification standard, and has also been customized in some countries. Combined with the existing business support of Asian Bank, it can help users to open VISA cards at the same time as KYC. Users can use any smartphone to quickly log in to the BTM terminal through COINBANK APP scan code to complete digital asset trading. In the future, COINBANK BTM will also support VISA card and NFC login.
Figure: COINBANK BTM terminal prototype
Digital bank support, enjoy a variety of financial services
In addition to the basic services of BTM and COINBANK APP, COINBANK’s cooperation with Asian banks allows digital asset holders to feel the advantages of the digital age in advance, for example: considering that digital asset holders will have borrowing needs, Asian banks Support for borrowing with digital assets as collateral without additional credit credentials. By using smart contracts, the rights and obligations of both parties are managed, while ensuring the security, transparency and fairness of the transaction. At present, most of the digital asset deposit channels on the market require users to complete the corresponding KYC certification before the official function operation. When registering COINBANK or opening an Asian bank account, users can simultaneously open the global VISA card of Asian Bank according to their wishes. service. In addition, Asian banks are eligible for the issuance of stable digital assets. By depositing a certain amount of legal tender, the corresponding anchored digital assets are issued. Currently, Asian banks have helped Canadian CK companies issue CK.USD anchored with the US dollar. More stable assets anchoring the legal currency will also be released. In the digital online banking of Asian banks, cross-border business can abandon the transit link, no longer through third parties, using blockchain technology to achieve point-to-point fast and low-cost cross-border transfers, not only can be paid around the clock, but also Real-time arrival and cash withdrawal are easy, and this is the result of our COINBANK team working with Asian banks.
It is reported that the COINBANK team is also actively establishing partnerships with other banks to solve multi-bank support compatibility issues through integration channels and applications, greatly reducing the bank’s research and development costs. COINBANK’s professional technical team will also turn the internal service business to Banks and related industries are fully open to facilitate bank access and use the COINBANK system to conduct business. In addition, the COINBANK team also opened the distribution rights of VISA cards, allowing more banks and financial institutions to jointly issue global VISA cards. The COINBANK team also plans to deploy more than 2k BTM terminals worldwide, with default pages and outside stickers to provide promotional services to customers.
Figure: Country areas that have landed and landed normally