The financial world is changing faster than ever, with blockchain technologies playing a key role. Cryptocurrencies are not just investment tools but integral to the payment infrastructure.
The Basics of Neobanking: How Do Digital Banks Work?
Neobanks are fully online financial institutions with no physical branches, providing a range of services through mobile platforms. They differ from traditional banks in flexibility and technology, using automation, AI, and cloud technology to reduce operational costs. This enables them to offer better terms. Well-known examples include Revolut, N26, and Monzo. Integration of crypto services is a promising area, driven by demand, reduced transaction costs, transparency, and portfolio diversification.
Banks and Neobanks: Who is Already Working with Crypto?
Many financial institutions are integrating digital assets. For instance, JPMorgan launched JPM Coin, Citibank introduced Citi Token Services, and Revolut expanded its crypto exchange across the EEA. N26 incorporated crypto trading. These examples show how traditional and neobanks adapt to evolving market demands.
Collaborations Between Crypto Exchanges and Banks: How Does It Work?
Financial institutions integrate crypto services via partnerships with exchanges, offering customers crypto payment tools. WhiteBIT and Binance are examples of exchanges providing such services. These collaborations can increase exchange capitalisation, popularity, and trust in cryptocurrencies.
With rapid technological evolution, the future of finance is shaped by the intersection of cryptocurrencies and neobanking.
