EQIBank’s global digital asset management movement
When one thinks of a bank, the image of a traditional and trustworthy institution comes into the mind. Throw digital assets into the mix and brick and mortar construction turns into something high-tech and exciting. Those who own digital assets are used to limited variety in how their investments are managed, but with EQIBank that has changed completely.
EQIBank is an international bank and digital financial services organization that was launched in 2015. Specifically aimed at high net worth individuals, EQIBank offers a range of products brought together in a single space. Like traditional banking institutions, EQIBank’s core value is trust.
Clients are served by three global companies: private banking, commercial banking and digital asset custody. EQIBank enables customers to perform banking transactions around the world from a single digital platform. All accounts are online, at one bank, giving people the freedom to transfer money between their accounts seamlessly.
Accessible in 180 countries, EQIBank is undoubtedly a world leader in digital banking. As the demand for cryptocurrencies continues to grow, so does the way digital assets are managed.
EQIBank responded to this request by launching EQIFI, a global banking system powered by the community. In addition, the issues that exist in centralized and traditional banking methods have been addressed and arguably resolved through the community-managed products and services offered by EQIFI.
EQIBank in brief
“EQIBank’s mission is to support innovative approaches to build a more interconnected banking world, with a focus on breaking historic banking limits and on financial freedom through an innovative approach to the offshore world,” says the bank .
In total, EQIBank offers its customers five interconnected services. EQIBank also offers carefully tailored digital private and commercial banking solutions. EQIBank’s three global activities are:
- Corporate bank: a hub for companies and commercial customers.
- Private banking: focuses on private clients across all segments.
- Digital Asset Custodian: Continuously pursues its goal of becoming one of the world’s top ten digital asset managers, providing an innovative suite to support digital asset clients.
Bridging the gap between fintech and DeFi with EQIFI
EQIFI bridges the gap between the world of traditional finance and decentralized finance. This global financial protocol supports its value proposition that all products and services must be uniformly available and delivered digitally.
EQIFI enables traders, investors, developers, exchanges and app users across digital asset, blockchain and cryptocurrency ecosystems to borrow against multi-type assets without selling them.
According to EQIFI, apps have the ability to borrow assets for use in the Ethereum ecosystem without the need for off-chain activity or waiting for an order to close. Miners can borrow against a selection of collateral while speculators can use a variety of trading techniques.
EQIBank is shaping the global digital asset management movement through decentralized financial alternatives to traditional financial products.
The democratization of finance is at the forefront of this project. Digital financial alternatives are more readily available than ever with EQIFI. For the less tech-savvy, EQIFI aims to utilize assets and other innovations in the digital asset space while providing access to a digital banking platform for those seeking a safe haven for their cryptocurrency.
EQIFI is a decentralized lending, borrowing and pooling protocol for ETH, ERC-20 tokens. These include Wrapped Bitcoin (wBTC), Stablecoins, and some fiat currencies. It provides a single uniform platform for DeFi products with EQIBank bank accounts, loans, custody, debit and credit cards, OTC and wealth management.
EQIFI differs from competing projects and protocols in that it is in partnership with EQIBank, which is a fully licensed and regulated digital bank. The project’s infrastructure is optimized for real-time interactions, which means that EQIFI is pioneering the demand for dynamic digital technologies.
The EQIFI protocol has created a transparent, open and secure DeFi market. Thanks to the issuance of loans, credits and investments, EQIFI has reached a large audience with its offer.
EQIFI’s four DeFi products
- Fixed rate product: pooled loans at a fixed interest rate that are settled on a specified future date. Users provide collateral in the form of Ethereum (ETH), wBTC, StableCoins, or certain fiat currencies (which are converted to StableCoins) in pools, with fixed rates attached. Thanks to a smart contract, an algorithm fixes the interest rate.
- Variable rate product: With algorithmic borrowing rates, this product makes the market automatically responsive to changes in the network, based on user activity and demand, increasing token pool borrowing levels . Increased demand automatically raises interest rates.
- Interest Rate Swap: This is a DeFi futures contract in which a stream of future interest payments are swapped for another, based on a specified principal amount. Interest rate swaps generally involve swapping a fixed interest rate for a variable interest rate or vice versa. This is done to reduce or increase exposure to fluctuations in interest rates. This product minimizes the volatility of variable rate loans and certain money market products.
- Yield aggregator: an automated aggregator of all major external yield agricultural products, making yield farming simple and automatic. It is designed for those new to the DeFi and Yield farming industry and those who are familiar with it.
EQIFI licensed services
EQIFI customers have access to a hassle-free banking experience for their daily needs. These include:
- Current and savings accounts:
- Credit card: Visa credit cards that contain US dollars and allow spending in most major currencies.
- Keep: traditional custody of assets; secure custody of digital assets; biometric security and private keys, and more.
- OTC: Support for over 100 coins and US dollar, euro and great pound sterling; Direct market access to over 10 leading cryptocurrency liquidity pools, and more.
- Wealth management: There are different investment options available to help clients achieve their financial goals.
The EQIFI token: EQX
The EQIFI protocol is governed by the owners of EQX. The EQFI structure allows the community to have full control over all change proposals, votes and executions through the platform’s governance functions. The community is allowed to offer new asset classes, interest rates and fees.
Control of essential functions is in the hands of the community. These include listing and delisting new types of assets and tokens, adjusting the interest rate by market (to commercially viable levels) and adjusting collateral levels among many others. .
EQIFI is the present and the future
The traditional banking industry as a whole was not designed to be easily understood. The trust that ordinary people place in these institutions is quite remarkable. Over the generations, as these systems continually failed millions of people, the power had to be put back into the hands of the consumer.
With the emergence of cryptocurrencies, the pressing issues around the accessibility and inclusion of blockchain and digital assets have been a long-standing issue. These spaces are notoriously intimidating.
What EQIFI gets so right is the fact that the traditional and centralized systems and the issues that exist in this financial space have been addressed and resolved. Empowering the community to control essential functions and make enabling decisions is a completely extraordinary concept and completely counter-traditional.
EQIBank’s integral role in EQIFI means that customers will never have the wool in their face. The financial well-being of the customer is at the heart of this digital institution, which is so evident in the suite of services and products offered.
What sets EQIFI apart is that it caters to new kids in the neighborhood, providing a seamless and friendly experience throughout. Players new to cryptocurrency, blockchain, and digital assets won’t be intimidating to find another solution, instead they are greeted with proverbial open arms.
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