|
| Wednesday, 8 September 2021, 20:30 HKT/SGT | |
| |  | |
Source: Scallop | |
|
|
|
LONDON, Sept 8, 2021 - (ACN Newswire) - Scallop, the world's first DeFi-powered banking app with integrated DeFi-powered accounts, is formalizing plans for launch in the EU and UK markets in late October 2021, with international expansion plans to follow. A one-stop solution for both banking services and crypto DeFi services, Scallop provides traditional banking services for busy users with a cryptocurrency core.
Scallop's ecosystem is focused on offering its users DeFi-powered banking solutions in an all-in-one account that enables them to manage their cryptoassets and fiat in a faster, more efficient, and secure manner, thereby making people's day-to-day lives more manageable, while also bringing crypto a step further into the mainstream.
"Scallop's mission is to accelerate the global transition to a more decentralized and equitable financial system. Therefore, there is a requirement for a banking infrastructure that bridges the crypto and fiat worlds. Scallop will allow its users to use their digital assets in the real world for the very first time. This is a major step for any foreseeable future of cryptocurrencies; without using crypto in the same way as fiat, the future is limited," said Raj Bagadi, CEO and Founder at Scallop.
With Scallop accounts, users will be able to pay for goods, set up direct debits, send or receive cross-border payments, and more. Scallop also comes with an in-built non-fungible tokens (NFT) marketplace where users can easily buy or sell their crypto-collectibles securely. And on top of that, Scallop users will also be able to earn the best interest rates from DeFi protocols like Compound and Aave.
Scallop has already secured a license to provide virtual currency exchange and wallet services from Estonia's MTR financial regulators, and the team is waiting on the UK's Financial Conduct Authority (FCA) Regulation as an EMD for Electronic Money Institution (EMI). Scallop's also shortlisted in Europe for regulation as an Electronic Money Intermediary. (Scallop services will not be immediately available in the United States)
Scallop will make further announcements as the EU and UK rollout, expected to go live in October 2021, begins. All application development has been completed, and security audits are taking place to ensure the product is technologically sound before the final launch.
About Scallop
Scallop is a DeFi enabled neo-bank that utilises blockchain at its core to provide a safe and secure solution to bridge the gap between traditional and decentralised financial systems - the world's first DeFi powered bank. Find out more at www.scallopx.com.
Official Scallop Links
Website: https://www.scallopx.com/
Medium: https://medium.com/scallopx
Twitter: https://twitter.com/ScallopDefiBank
LinkedIn: https://www.linkedin.com/company/scallopx/
Telegram: https://t.me/Scallop_Official
ScallopLight: https://tinyurl.com/scallop-light
Contact:
Karampal Singh
karampal.s@scallopx.com
Scallop Group Limited
Topic: IPO
Source: Scallop
Sectors: Crypto, Exchange, Blockchain Technology, FinTech
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
| |
Latest Press Releases
Kangji Medical Receives Privatisation Proposal from a Consortium Led by Kangji Medical's Chairman, Zhong Ming, TPG and QIA to Advance Long-Term Strategic Vision
Aug 13, 2025 23:21 HKT/SGT
|
|
|
GEON Performance Solutions Achieves Great Place to Work Recognition Globally Second Year in a Row
Aug 13, 2025 23:18 HKT/SGT
|
|
|
AI Inference vs. AI Training: What Are the Differences?
Aug 13, 2025 23:03 HKT/SGT
|
|
|
Shoucheng Joins World Humanoid Robot Games - 88 Spectators Invited
Aug 13, 2025 22:33 HKT/SGT
|
|
|
MMG Announces 2025 Interim Results, Profit, Earnings and Cash up on Strong Copper Growth
Aug 13, 2025 22:31 HKT/SGT
|
|
|
Formerra Becomes North American Distributor for Syensqo PVDF
Aug 13, 2025 21:32 HKT/SGT
|
|
|
China Lilang Announces 2025 Interim Results
Aug 13, 2025 21:30 HKT/SGT
|
|
|
NMPA Accepted Essex's Biologics License Application for EB12-20145P (HLX04-O) for the Treatment of Wet Age-Related Macular Degeneration
Aug 13, 2025 20:24 HKT/SGT
|
|
|
AsiaMedic Reports 26% Revenue Growth to S$16.6 million in 1H2025, Led by Strong Diagnostic Imaging Performance
Aug 13, 2025 14:00 HKT/SGT
|
|
|
74th China (Linyi) International Hardware Expo to Open September 5-7, 2025 in Shandong
Aug 13, 2025 12:00 HKT/SGT
|
|
|
|
|
More Press release >> |
|
|
|
