SINGAPORE, Oct. 09, 2024 (GLOBE NEWSWIRE) -- MELD, a new Neobank focusing on crypto friendliness launches today with their iOS mobile app. Coming to the market with a new type of banking that merges crypto and fiat services into a single platform. MELD gives you a traditional fiat deposit account and a non-custodial crypto account together in the same wallet. Account holders can exchange between crypto and fiat or between crypto tokens on different blockchains. Bringing the best of both worlds together in one account.
MELD is approaching banking from a decentralized perspective. Through the MELD blockchain, the network is run by individuals or companies so no one single individual is in control. They currently have 26 of these independent nodes running the blockchain with plans to grow it to over 100. This is a fairly common type of blockchain, called Proof of Stake. Where MELD is innovating is on the banking side of the network.
MELD has developed a proprietary banking system from scratch that integrated several payment and currency providers, some of which duplicate each other. This way, MELD is creating decentralization on the banking side where it can pick and choose the best provider for the right transactions. This also prevents an outage from one provider to stop the service because MELD can switch to a different provider that has a simpler service, creating redundancy in their system.
In addition to this, MELD is building connectivity between the banking network and the blockchain with their zkBanking Network. This new technology duplicates all of the traditional banking transactions onto the MELD blockchain in a way that maintains privacy. With their zkBanking, users can send a proof of payment, fund or balance to a counterparty that can verify this on the blockchain.
Notwithstanding the technical innovation, the new MELD Neobank brings fast, cheap and easy banking services to users in more than 160 countries around the world. Primarily targeting users that hold crypto and need an efficient way to convert crypto into fiat to buy crypto with fiat currency. MELDs goal is to let people use crypto as easily as they can use fiat like Euros.
The banking services are mobile first, available today on iOS only, but the Android version of the Neobank is under development. You can go to the App Store and download MELDapp for Mobile in more than 160 countries.
This new Neobank wallet supports Euros with an additional 20+ currencies coming in the next few weeks along with 4 of the major blockchains, Ethereum, MELD, Avalanche and Cardano. MELD has an ambitious plan of products and services coming out in the coming months. As a result they are offering early adopters a 70% discount for 2 months. The Premium service is only €5 per month. With this subscription, you lower your fiat/crypto on and off ramping fee from 1% to an incredibly low 0.01% per exchange.
About MELD
MELD is a crypto native global neobank powered by the blockchain. Bringing fiat currencies like (30+ including USD and EUR) and crypto currencies (1000+ BTC and ETH) together in one seamless wallet supporting more than 160 countries. MELD makes it easy to navigate between these two worlds and get the best out of both. From generating a yield on your crypto to debit cards and business accounts, MELD brings fundamental banking services to everyone.
The MELD blockchain powers more than just the MELD Neobank, with a non-custodial lending and borrowing protocol and more than 30 businesses building on MELD. Users interact with all of this through the MELD web and Mobile apps helping people and businesses take full advantage of both their crypto assets and fiat assets.
You can follow the project and stay up to date with its development at these links: Website | X (Twitter) | Telegram |
Contact:
press@meld.com
Disclaimer: This content is provided by MELD. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5190354e-313c-44ef-ab60-82088e9d5d6b
