Disclaimer: The text below is a press release that was not written by Cryptonews.com.
AXIA Capital Bank aims to embed AXIA Coin, it’s proprietary digital currency, into several ecosystem applications that will change the economic model to benefit the many rather than the few. AXIA Capital Bank is the first of a series of financial services designed to alter traditional banking by creating value for clients through a participatory and low risk model.
The secure banking platform will offer members a 12% annual compounded interest paid every day in AXIA Coin. Members are also able to receive 6% AXIA Coin based cash at over 2,000 brand name stores and 5% cash back on online and tap-and-pay purchases. Exclusive features will also become available that are not present in current banking services.
A decentralized network of solutions can solve high fees, cumbersome interoperability, and the overall bureaucracies of traditional banking services. Smart contracts can avoid these pitfalls by allowing for more efficient transfers between accounts, easy digital currency conversion, low translation and currency exchange fees. Integrating a decentralized network also protects your assets with military grade security of digital currencies cold storage services.
Benefits stem from account holders having their money work for them thanks to AXIA Project’s blockchain and smart contract technology. The blockchain protocol reverses the role of banking fees. Instead of generating revenue for shareholders, any fees would be for the sole purpose of producing more value for the AXIA Reserve to increase the support of AXIA Coin which in turn delivers value to the AXIA community members.
Traditional banking relies on a fractional reserve system that uses account holders’ deposits to issue loans where the bank is the sole beneficiary. Users’ funds are safer on the AXIA platform as depositors maintain complete control over their money at all times; thus, eliminating any risk of a bank run. The platform simply acts as a secure decentralized portal that offers cold storage and third party custody.
AXIA Capital Bank has removed the barriers to entry that exclude many from participating in the global financial system allowing users access to a better financial future. AXIA Capital Bank is providing all the required financial services in a customer-centric manner with no balance sheet risk.
AXIA Capital Bank is part of an expanding ecosystem of blockchain solutions that provide value for its users.