The world of traditional banking is fraught with obscure practices, unfair fees, and most of all, the mismanagement of customers’ funds. The centralized model that defines the industry has proven to be completely inefficient when compared to the possibilities offered by blockchain technology. This is why we’ve decided to include a banking platform as a key component in our expanding ecosystem of applications. One that benefits from all the value creation on our network as well as its inclusionary policies.
The AXIA Project team is proud to announce the launch of AXIA Capital Bank. This new digital currency banking platform will redefine what banking can be and what it can do on behalf of its members. AXIA Capital Bank is working to change the high fees, cumbersome interoperability, and overall bureaucracies of traditional banking with our implementations of blockchain technology and smart contracts.
Different from traditional platforms, our technology enables more efficient transfers between accounts, easy conversion between traditional and digital currencies, low transaction and currency exchange fees, as well as military-grade security along with custody and storage services for digital currencies. It also enables us to offer you up to 12% annual compounded interest paid out every day in AXIA Coin. You can even receive other rewards and benefits that would be unthinkable at traditional banks.
More so, the platform is underpinned by our proprietary, asset-supported digital currency, AXIA Coin. This means that it is easily integrated into each and every one of our 17 applications designed to change the economic paradigm for the benefit of the many instead of the few. These range from telecommunication services, to a data monetization platform, to a privacy-focused search engine. AXIA Capital Bank is only one of many financial services we’re launching to alter traditional banking and finance by focusing on a participatory and low-risk model that creates value for everyone.
AXIA Capital Bank’s benefits come from the fact that, contrary to the traditional banking model, we implement a system where account holders are able to have their money work for them. The model is designed to enhance the long-term adoption of blockchain technology and AXIA Coin while delivering continuous value to AXIA community members. This comes in sharp contrast to the fractional reserve system that most banks use today whereby they use account holders’ funds to issue loans that only benefit the company. On AXIA, value created in the network is distributed to its users while members who bank in AXIA Coin enjoy free custody and storage.
As explained by our founder, Nick Agar, in a recent announcement for the launch of AXIA Capital Bank, “The AXIA Project team believes that banking and financial services are a basic human right. AXIA Capital Bank has removed the barriers to entry that exclude many from participating in the global financial system because everyone deserves access to a better financial future. Furthermore, AXIA Capital Bank is redefining banking providing all the required financial services in a customer-centric manner, while ensuring no balance sheet risk exists as it does with conventional banks. AXIA Capital Bank is structured to provide its members with the utmost level of safety and security.”
Altogether, these features make AXIA Capital Bank a superior alternative to the now outdated banking models that exist outside the possibilities of blockchain technology and its decentralizing capabilities. An alternative that is more private, flexible, valuable, and fundamentally more secure. We hope you join us in creating a better system for all of us.