Do you know the saying “Innovate today or die tomorrow”? Being at the forefront of technological innovation is another name of AFRICUNIA BANK, a web/mobile-first digital-only decentralized banking app with digital-first customer service headquartered in the United Kingdom and with offices in the USA, Canada, Switzerland, Austria, Nigeria, Zambia, Tanzania, Vietnam, and Suriname. It helps you save on transfer fees and exchange rates based on a customer-centric business model and a seamless infrastructure following Bill Gates’ view that “Banking is necessary, Banks are Not.”
AFRICUNIA targets the unbanked, the financially excluded, and the less privileged with hassle-free money transfers with affordable fees (by the way, they are 0.5% + $1 for USD and 0.3% + €2 for euro). Its long-term goal is to meet the growing needs of the elites, the literates, the illiterates, and the unbanked in domestic and international money remittance and bank account management services.
The idea behind it was to make money transfers easy, cheap, secure, and accessible to the less privileged. Since its establishment, AFRICUNIA has been increasing security and decreasing the cost of money transfers in its dynamic application. In this ecosystem, businesses and individuals can access financial services regardless of their social status, nationality, or location. This is a fresh approach in 2022, the year when a new world record for economic sanctions was set.
AFRICUNIA offers a level playing field where anyone can become a consumer or liquidity supplier for crypto, fiat, precious metals, etc. It allows traditional banks to adopt compliant high-throughput PoW + PoS blockchain technology like SWIFT/BIC for real-time international money transfers through multi-layer networks. This multi-faceted ecosystem develops highly secure offline, online, and ultrathin smart wallets and integrates Artificial Intelligence, crypto-based Points of Sale, Digital Pass Technology, the fiat/forex/crypto exchange/lending marketplace, open APIs, P2P crypto transfers, and smart contracts in one place.
The asset central to the AFRICUNIA ecosystem is AFCASH. It helps bridge the gap between the fiat and crypto worlds and enables global and predominantly African users to trade daily commodities on marketplaces. AFRICUNIA sees AFCASH as not just a cryptocurrency but an international community used by individuals and organizations from all industries and walks of life, a complete token-based system running on the AFRICUNIA Protocol Consensus Algorithm similar to Ethereum and Ripple Protocol Consensus Algorithm, and a domain of highest privacy and security.
The total supply of AFCASH is fifty billion tokens, but only one hundred million of them enter the initial circulation on multiple blockchain networks. All tokens not sold during public sales will be burned. Fifty percent of the total supply will be paid to public contributors to the ecosystem. At the end of each financial year, AFRICUNIA BANK will distribute 20% of its profit proportionately among AFCASH holders to their holdings.
In spring 2022, AFRICUNIA BANK partnered with Sparco Bank to bring the PAYCLUSION fintech platform to Africa. Currently, the partners offer completely feeless agriculture grants in Nigeria. Money transfers with low fees and a no beneficiary fee policy are already available in the AFRICUNIA BANK app (App Store | Google Play). The blockchain-based bank chose the IEO route to boost the investors’ confidence, bring them a more user-friendly experience, and achieve a smooth launch. A week-long AFCASH IEO will be held on Azbit starting July 11, 2022.
Disclaimer: Nothing in this article shall be considered an offer to sell, solicitation of an offer to buy, financial recommendation, or financial advice. Do your research and seek advice from professional financial advisors.