Banking infrastructure and compliance
Last updated
Last updated
BANGK aims to revolutionise the financial landscape by combining the agility of blockchain with the stability of traditional banking structures. To achieve this, a banking infrastructure is being put in place. It aims to create a secure, efficient and inclusive financial environment that can adapt to changes in economic activity and provide fluidity in relation to financial regulations.
Immediate conversion of cash into stablecoins The BANGK model is based on the use of stablecoins. Any fiat currency deposited into BANGK accounts will be instantly converted into equivalent stablecoins at a ratio of 1:1. This process improves the speed, security and flexibility of transactions within the platform. It provides an efficient bridge between traditional and digital finance and reduces red tape.
Integration of traditional banking services BANGK will gradually integrate all essential banking services into its ecosystem. Users will have dedicated IBANs to facilitate their traditional banking, physical, virtual and ephemeral debit cards for their daily transactions, as well as simple mechanisms for fiat-crypto conversions. They will also be able to pay for their day-to-day spending directly from their crypto wallets. This ensures a seamless transition between traditional finance and the world of blockchain-based finance.
Broadening investment horizons BANGK is focusing on improving financial opportunities by embracing the tokenisation of real world assets (RWAs). This strategy aims to open the doors to investments traditionally accessible only to the elite, by seamlessly integrating them into banking services. This will make the investment process safer and simpler for customers.
Focus on safety The protection of users' assets and data is of paramount importance to BANGK. The infrastructure will use state-of-the-art security measures, guaranteeing the integrity and confidentiality of all transactions and personal information.
Compliance with financial regulations Compliance with international and local regulatory standards is paramount for BANGK. From anti-money laundering (AML) to user identity verification procedures (KYC), its infrastructure will be designed not only to comply with current directives but also to go beyond mere regulatory compliance. BANGK is committed to creating an environment where its users can operate with security and confidence.
BANGK's infrastructure represents a pioneering fusion of financial inclusivity and traditional banking reliability. Through its innovative use of stablecoins and asset tokenisation, coupled with its comprehensive range of banking services and easy-to-use features, BANGK is creating a financial ecosystem that is resilient, adaptive and versatile. The commitment to security and compliance ensures that BANGK is positioned as a trusted and pioneering player, paving the way for a new era of responsible and accessible banking for all.
BANGK recognises the importance of remaining at the forefront of regulatory compliance, particularly with the new Markets in Crypto-Assets (MiCAR) regulation introduced by the European Union. This includes:
Rigorous internal audits: Regular assessments of operational, financial and safety practices to ensure that they meet or exceed MiCAR requirements.
Legal advice: Working with leading legal experts in blockchain and financial regulations to accurately interpret MiCAR guidelines and implement any necessary adjustments.
Technological alignment: Putting in place a technological infrastructure that supports transparency, security and user protection measures.
Stakeholder engagement: Working closely with regulators, industry bodies and other stakeholders to keep abreast of regulatory developments and help shape a fair and sustainable digital financial ecosystem.