Eidoo to provide pure Fintech services: the Eidoo Debit Card
Eidoo’s goal is creating a blockchain-to-human interface simplifying the interaction between digital currencies and their users. For this reason, we plan to offer the best set of tools to manage cryptocurrencies and fiat currencies within one single app (both available on iOS and Android).
According to this objective, Eidoo wants to provide users not only a multicurrency wallet and a decentralized exchange but also pure fintech services.
Fintech is a growing industry, and all the best and most important financial institutions are trying to enter into this new and innovative world, by activating services that are based on the Bitcoin and the Ethereum blockchain.
Eidoo wants to be in the first line to exploit the whole potential of the blockchain technology, providing all the needed services to help you in the race to a better financial and economic management of your funds.
The Eidoo Debit Card
The first step to exploit all the potential of the Eidoo fintech services is the KYC verification.
Know your customer (KYC) is the process of a business identifying and verifying the identity of its clients to avoid anti-money laundering and illegal activities.
KYC processes are also employed by worldwide companies to ensure their proposed agents, consultants, or distributors are anti-bribery compliant. Financial institutions are increasingly demanding that customers provide detailed anti-corruption due diligence information.
After this process, if you follow the steps required to provide all the needed info, you will have the possibility to receive your new Eidoo-branded debit card to convert US dollar, Euro, CHF, and cryptocurrencies too; this all works within the same mobile (and later desktop) application.
After receiving all the needed authorizations, you will be able to leverage all the fiat currency-related services including the Eidoo Debit Card and a personal IBAN, so to use Eidoo as your bank.
This Eidoo Debit Card will be available in the second quarter of 2018, as you can read in our official roadmap here.
Eidoo aims at obtaining all the authorizations needed in Switzerland (FINMA) but also in the whole Europe and America to offer this service worldwide.
Eidoo also plans to open several branches in London and Singapore in the next few years, in addition to the one already existing in Chiasso, Switzerland.
More specific details about the Eidoo-branded debit card can be found on the Technology Whitepaper here.