Technology has been threatening the banking sector for a while now. New financial technologies, FinTech, keep emerging each passing day. Tech giants such as Amazon, eBay, Apple, and Google have not been left behind either. That is not something that has gone unnoticed by the traditional banking industry. Just when they thought they had seen it all, cryptocurrency investment came into existence. Now, a time has come where you either shape in or ship out. They have had to rise to the occasion lest they are doomed. What other better way than to use the same technology to their advantage?

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To deal with the competition, various banks have decided to engage Blockchain in banking. No financial institution seems to be lagging behind in this, including the large ones. Central banks, investment banks, not forgetting stock exchanges, and other banking sector players are looking for solutions based on Blockchain. This article focuses on Blockchain in banking, among other things. Check it out!

How Does Crypto’s CeFi and DeFi Work?

The popularity of DeFi and CeFi has increased in recent years. There are two types of blockchain ecosystems: centralized (CeFi) and decentralized (DeFi). These platforms both effectively utilize distributed ledger technology and are important players in the cryptocurrency industry. Decentralized Finance (Defi) and Centralized Finance (CeFi) platforms make it easy for people to use cryptocurrencies. However, they use different mechanisms to function.

People can use centralized finance to lend or borrow cryptocurrency at public exchanges, earn interest, or make loans. The CeFi system is designed to make trading fair, buy and sell processes, and transaction processing. CeFi’s services handle the vast majority of cryptocurrency transactions, giving it a dominant position in the blockchain space. A password is required to log on to these platforms, but users are not given a personal key for accessing funds. The CeFi platform manages your funds for you instead of you doing so yourself. CeFi poses a risk to depositors because they must trust these companies to keep their funds safe.

With decentralized finance, users do not need to trust a third party but rely on decentralized blockchains instead of centralized financial institutions. DeFi has the biggest advantage of encouraging users to trust a protocol instead of a corporation. Generally, DeFi does not have custody rights. The holder of a smart contract locks his money to access financial services. The company does not hold the coins. Furthermore, this service is available from anywhere globally, so no one can prevent an individual from using it. Financial professionals can access these services without having to divulge their identifying information.

This movement is deeply rooted in both forms of finance. The infrastructure of both digital currencies promotes advanced and secure finance and offers fast transactions and attractive returns. CeFi existed several years before cryptocurrencies became popular. Meanwhile, the DeFi market is relatively new and growing quickly. A newcomer to crypto might find it daunting to use DeFi. By using CeFi services, users can protect their seed phrases and manage their wallets without worrying. For new crypto holders, crypto-based banking such as pointpay could be an excellent entry point.

How Blockchain revolutionizes traditional banking?

Despite being a new technology, the impact that Blockchain has had so far is too much to go unnoticed. It has the power to change almost every sector for the better, including the voting system, medical records, and food supplies, just but to mention a few. After all, it offers several advantages that are rare yet crucial.

It is a go-to method since it combines some of the most important things when dealing with currency. Blockchain offers accessibility, security, and privacy. Equally important, it gives the power of control to the user and makes transactions auditable. Its decentralization aspect has come bearing yet another rare yet remarkable opportunity. Owners get self-sovereign, which is hard to find, no doubt. That’s hard to get with traditional banking due to its centralized model.

With the help of its vast peer-to-peer network, Blockchain has the resources necessary to verify every transaction. The distributed global ledger not only verifies but also stores all the transactions. It has managed to combine integrity, trust, and security. With that, it has what it takes to change the traditional banking model

How financial institutions are planning to integrate Blockchain in banking

Interest in Blockchain is also increasing among banks as they try to take advantage of this promising technology. Here are some examples.

Citigroup Inc.: The Company has worked on three undertakings revolving around Blockchain so far. It also has a cryptocurrency by the name CitiCoin.

UBS: This Swiss investment bank already has a blockchain lab. It plans to use it for research that the computer will use later on.

Barclays: It is carrying out experiments using start-ups internally and through partnerships for financial services. It also believes that it is transformative hence interested in it.

Banco Santander: This Spain-based bank is developing a solution to reduce the cost of operation. It will be blockchain-based and will assist it in reducing the price by $20 billion annually before 2030.

NASDAQ OMX Group Inc.: It plans to achieve a lot with Blockchain across capital markets. The technology would help reduce the friction points, time, and costs of the same.

BNP Paribas: This French investment bank wants to embrace Blockchain in order processing and its currency funds.

Others include Goldman Sachs Group Inc., Commonwealth Bank of Australia, Westpac, CBW Bank, BNY Mellon, LHV Bank, BBVA, DBS bank, Deutsche Bank, The Bank of England, Standard Chartered, and Societe Generale. They are researching on the same.

What is the PointPay Platform? How does it work?

PointPay is an excellent example of a platform that has embraced Blockchain in banking. As a matter of fact, it is also changing cryptocurrency investing for the better. Therefore, if interested or already in the industry, this is a platform to watch out for, indeed. Let’s learn more about this incredible platform.

It is a fintech that came into existence in 2018. It aimed to have a complete cryptocurrency banking system incorporating Blockchain while boosting cryptocurrency investing. Going by its roadmap, so far so good, since it already has ten launched products. As far as the crypto industry is concerned, it has the highest rates, no doubt.

That’s something everyone thinking cryptocurrency investing is seeking, whether a novice or a professional. So, what you are probably wondering is how the PointPay platform works. The procedure is as simple as creating an account on the PointPay website. Upon doing that, you will access its features which allow you to carry out various banking services. It will help you save, grow and manage your cryptocurrencies. Its services are faster and cheaper than what traditional banking offers.

It works globally, and regardless of the distance, the transfers are relatively fast. You can use any currency depending on what’s convenient. So don’t hesitate to use cryptocurrency, fiat, credit, or debit card, whichever works fine. It can be a payment system, wallet, exchange, or bank depending on your need.

How does the PointPay platform disrupt the traditional bank model?

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As far as cryptocurrency investing is concerned, PointPay is a platform that’s disrupting how traditional banks operate. It allows its users to open accounts that they can use for checking or saving crypto. Those who save with the platform earn compound interest every day. It works with most cryptocurrencies, including PointPay token, Tether Gold, Tether USD, Ethereum, and Bitcoin. It is easy to transfer money between your account and your bank. Due to integrating Blockchain in banking, it is also safe. Let’s take a look at its features and how they are disrupting the traditional bank model.

PointPay Crypto Exchange: It offers professional traders a trading user interface that’s custom and convenient.

PointPay Crypto Wallet: It comes in handy when tracking price changes as far as one’s cryptocurrency portfolio is concerned.

PointPay Payment System: As a customer, you can buy common cryptocurrencies such as LTC, XRP, USDT, ETH, and BTC. You can do it directly from credit and debit cards, exchanging them with GBP, EUR, and USD, among other traditional currencies. It is also possible to sell for UAH, RUB, and USD.

PointPay Mobile Banking apps: PointPay has mobile applications available for iOS and Android users. It allows one to buy, sell and exchange currencies as well as earn interest daily.

PointPay Native Off-chain Technology: It has created a technology that makes an impressive ecosystem. It integrates the bank, mobile crypto banking apps, payment systems, and exchange. Therefore, users get to perform instant transfers to partners and even loved ones among these entities.

What are crypto loans, and how do you get one?

In crypto loans, the borrower provides his crypto assets as collateral in exchange for the loan. Want to get a loan on crypto? If you have a bitcoin, you can get a loan without going through the hassle of asking your bank. Several crypto banks are now offering credit lines to digital currency investors. With crypto banks, cryptocurrency owners can get loans by pledging their holdings. Most cryptocurrency owners opt for a crypto loan rather than selling their assets, assuming their value will increase over time. In contrast, if the borrower fails to repay a crypto loan, the lender will claim their cryptocurrency as repayment.

In PointPay, a crypto-backed loan is available instantly, no matter where you are or what your credit history looks like. The lender won’t even consider it when evaluating your application. Additionally, if you own PXP, your interest rate will be lower than non-owners. The PXP balance is also inversely related to interest rates, so the higher the PXP balance, the lower the rate. With PointPay, you can loan cryptocurrency instead of selling it, with a small interest rate. Furthermore, it won’t impact your earnings as you will also enjoy regular increases in bitcoin prices. In the end, once the borrower repaid the loan plus interest, all crypto was returned to him.

PointPay Crypto Exchange Explained

As far as PointPay Crypto Exchange is concerned, it is similar to traditional banking exchanges but deals with cryptocurrencies exclusively. The trading platform has a user interface customized optimally for trading and allows users to carry out Quick Exchange. Advanced traders can also take advantage of the limit, stop-limit, and market orders. On the other hand, beginners get tutorials to ensure that they master the art of trading with ease. It has incredible features, including multi-language support, public API, and 24/7 support.

For beginners, expect an easy time doing cryptocurrency conversion since PointPay simplifies it entirely. If you are a PXP-token holder, this Crypto Exchange allows you to monitor your discount with a progressive scale. Equally important, it has a referral system to increase one’s earnings. Last but not least, it is possible and above all easy to advertise with bright banners. That’s what PointPay Crypto Exchange is about to help you know what to expect.


At the moment, the future of Blockchain in banking seems too bright. It is likely to be adopted by many people, given that it is solving many problems associated with the traditional banking model. In fact, even financial institutions are planning to embrace it. Who wouldn’t want secure transactions that are fast and less costly? That’s why anyone planning to join or already a member of cryptocurrency investing should be ready for it. Pointpay creates an excellent banking ecosystem that would make banking services among crypto owners easy, efficient and effective. PointPay ICO is worth considering since it is open to everyone till June 30, 2021, including unaccredited investors. If you buy the tokens now, you will most likely gain profits by selling them as soon as their prices go up. Since better late than never, don’t let the opportunity pass!

Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor. 



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