As we move further in the time stream that is cryptocurrency, we must realise that there has to be some integration with the traditional finance that we are already used to. At this point in time, not everyone is familiar with the Web3 universe and all its implications. While cryptocurrency might promise a new and much better future than what we already have, there are still a lot of people that will find it difficult to accept crypto, especially those who are not ready ro go through the stress of converting fiat currencies to crypto.
What if that were to change though? Imagine a world where crypto and fiat interact seamlessly on one platform, where the the transfer from one to another is done within an instant and with no hassle to the individual carrying out the transaction. You can stop imagining because there really is such a solution in today’s world and that solution is Scallop!
Scallop is the world’s first regulated Defi banking application, allowing both ordinary and institutional participants to benefit from decentralized ecosystems while keeping traditional bank accounts simple. Scallop is the leading project with this type of feature. Because their financial solution is built on the blockchain, it offers users a safe and secure entry point into the world of cryptocurrency. They use blockchain to provide users with banking solutions that are just as secure and robust as those used by traditional banks.
Scallop’s products are designed to be usable, simple, and trustworthy in order to make crypto and its associated products accessible to the general public. Scallop Earn, Scallop NFT, Scallop Pay, and Scallop Multicurrency Wallets are among the products that are currently available on the App. Scallop happens to be the first service provider to enable users to quickly convert their Crypto through their Scallop bank accounts and spend the converted funds in traditional or online marketplaces.
The Scallop Chain is the infrastructure that allows all of this to happen. Scallop Chain is a single-binary blockchain designed to provide the best balance of speed, convenience, and developer ergonomics. The blockchain has been specially created for public authorized proof-of-stake. This allows institutions working with Scallop to design and deploy secure custody services, interest-bearing savings accounts, debit cards, and a fiat on-ramp to cryptocurrencies.
Scallop Chain intends to build the next generation of cross-chain banking platforms, including an open, programmable smart contract service for decentralized application development. Scallop Chain has the following advantages:
Scallop Chain is the world’s first regulated blockchain, ensuring compliance with all legal guidelines, rules, and directives in order to provide a secure and privacy-oriented environment for all stakeholders.
Scallop Chain also allows you to build robust, cost-effective, and user-friendly dApps. With support for both EVM-based smart contracts, you can create secure and feature-rich dApps capable of processing thousands of transactions per second.
Finally, Scallop Chain enables institutional partners to work directly with Scallop to provide a wide range of financial services and benefits. The elimination of intermediaries and third parties reduces the possibility of sensitive data and information being mishandled.