Budding Web3 Banking Platform to Bridge the Gap Between TradFi and DeFi

Web3, the era that alludes to the future of the internet, continues to emerge with cutting-edge innovations and upgrades. On top of this, the DeFi industry, blockchain, and cryptocurrency keep on gaining traction from the public.

However, despite the ongoing hype, there are still some people skeptical about hopping on the web3 bandwagon due to its supposed ‘complexities’. That said, several platforms have surfaced to address this issue – one of them is Finvault.

Finvault is a web3 banking platform that gives businesses and individuals full control of their money and digital assets, all in one secure vault. It aims to bridge the gap between traditional banking and DeFi, paving the way for Banking 3.0.

Finvault is currently in its testing phase and was soft launched in the Polygon testnet. It’s currently preparing for a full launch in June. 

As the official media partner of the World Blockchain Summit, CoinQuora landed an exclusive interview with Finvault Co-Founder and Chief Technology Officer, Christian ‘Chris’ Papathanasiou who before working for Finvault, worked with big names like Careem, Dark Matter, and Citibank. In a nutshell, Chris dove deeper into the premise and essence of the web3 banking platform.

Getting started, Chris highlighted the reason why Finvault stands where it is now. According to him, “we created Finvault to address a very, very simple problem that everybody has… it’s very, very hard to use DeFi platforms currently.” He also went on to describe it as ‘incredibly sophisticated.’

Chris acknowledges the complexities many face and barriers to entry which is why the Finvault team are on a mission to ‘demystify DeFi.’ He believes in the tremendous advantages brought about by web3 and its role as the ‘future of finance in the future web’. Chris went on to explain the driving force of Finvault, “how can we make [these benefits] accessible to many?” Finvault seeks to take the benefits of web3 and deliver them to a web2 world.

With operations in the UAE and Europe, the platform has a licensed crypto exchange in Estonia and they are also working on receiving licenses in both Lithuania and Poland.

Finvault is poised to offer a regulated environment where people can visit, deposit their fiat, gain access to web3 protocols, and get higher yields on their investments.

Concluding the interview, Chris shared that Finvault is building what is referred to as “one-click DeFi.” Users will be able to sign up with either their email address or Metamask account, depending on whether they are a basic or advanced user. They will get access within minutes and can start connecting their existing bank accounts and crypto wallets.

Users can now sign up to Finvault’s waiting list  by visiting www.finvault.com.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.