The single currency wallet is becoming less and less viable. We live in a global society and digital finance has gone far beyond just bitcoin. Users need to have the option to manage and spend a variety of currencies from the same wallet.
LONDON (PRWEB) March 16, 2021
A just-released study by a prominent British research firm, shed new light on just how important it is to expand access to the financial system to those who are unbanked. The research showed that providing alternative means to people and businesses for using their own money is the single most important avenue to improved opportunity and quality of life. The experts at KnowByLity (KBL) say that ensuring that financial inclusion grows requires visionary digital solutions that harness the potential of the blockchain. And one way, they stress this can be done is via versatile crypto to fiat wallets, such as their new product called, BancKED.
KBL - a global provider of prepaid card issuing software design and management - recently introduced BancKED. It is a crypto wallet white label program that provides secure access to cryptocurrencies, fiat conversion, prepaid cards and interactive functions and features.
“Users of crypto wallets likely have different priorities. Some may use a wallet for daily purchases and peer-to-peer payments while others may hold crypto as an investment,” explained Steven Foster, KBL’s CEO and founder. “At the same time, some people need access to their currencies anywhere and everywhere they go while others may just need access from fewer locations. Businesses considering a white label crypto wallet program to boost revenue and their brand recognition, need to be able to tailor their product to their target audience.”
In other words, one size does not fit all.
KBL works with its clients to develop a multi-currency wallet customized with the businesses’ names and logos that, in turn, allows their own customers and employees to store and spend crypto-currencies via relevant features and functions. Its white label wallets utilize advanced blockchain software design that not only allows for versatility but also helps prevent security breaches, fraud, and identity theft.
Foster says that the multi-currency feature is increasingly more significant as there are now hundreds of altcoins, each with its own unique structure.
“The single currency wallet is becoming less and less viable. We live in a global society and digital finance has gone far beyond just bitcoin. Users need to have the option to manage and spend a variety of currencies from the same wallet,” he added.
“KBL was founded on the premise that financial opportunities should be available to everyone. Financial freedom opens opportunities for individuals to improve their quality of life and businesses to start and expand,” Foster said. “That starts with innovative tools, like BancKED, backed by expertise in finance, technology and customer service, and a passion for possibilities.”
About KnowByLity: KBL offers comprehensive mobile and desktop platforms tailored to clients' varying needs along with customer experience platforms. Its software solutions ensure white label programs are rich in features and functions, simple to use, graphically appealing, and above all else, compliant with all financial services’ regulatory requirements. For more information on KBL and its solutions, please visit http://www.kblholdings.com and http://www.bancked.com.