London, UK – Breaking news from the crypto world as BABB is introducing a new Hybrid Money Account that’s designed to help people send money abroad in a very smart way using the technology of Blockchain. It’s a world-first, allowing account owners to have cryptocurrencies, stablecoins, and fiat money all in the same mobile application. The company hopes that this will help move the world forward to create a financially-inclusive place and prove that decentralized finance can work for the benefit of humanity.
With its Hybrid Money account, BABB will focus on global payments from all four corners of the world. The goal is to create a system that allows anyone to have a basic account and access financial services. Therefore, account holders can send money to their families and friends abroad, all with no risk and no extra hidden fees.
Deploying throughout 2023
The current roadmap for the Hybrid Money Account expects deployment to begin in the early months of 2023. This will see the launch of UK BABB Accounts in collaboration with Clearbank, leading to the inclusion of UK debit cards in early Q2 of next year. Following this, EU BABB Accounts will be launched in collaboration with LHV, and the target is to roll out EU debit cards by the end of Q2 as well.
Towards the end of the year, US BABB accounts should be launched alongside US debit cards. It’s an exciting roadmap that looks to deliver the benefits of the Hybrid Money Account to as many users as possible.
On a mission to end financial exclusion!
Despite the fact that more individuals are gaining access to banking services, the World Bank's Global Findex data shows that there are still more than 1.7 billion unbanked adults in the world. Moreover, the majority of these people are in Africa and Asia where the lack of financial infrastructures and the high costs to access the financial services make it difficult for people to access basic financial services. Something needs to be done to create a more balanced world with equal access to banking opportunities – and this is exactly what BABB aims to do.
Rushd Averroes, the Founder of BABB, began his journey towards financial inclusion in 2016 when he was categorized as a low-income in the UK and denied access to a traditional bank account. Hence, he chose to build his own banking system based on the Blockchain and promised to bank the 1.7 billion unbanked people around the world, delivering affordable financial services to as many countries as possible.
Regardless of how much money someone has or where they come from, they have the right to access the most basic financial services to support themselves and their families. The new futuristic money account from BABB is truly breaking down barriers and offering a service that’s never been seen before. It showcases how the technology can be used for the benefit of others – particularly those who are financially excluded and struggle to find traditional financial services. A BABB account will give users a safe and secure banking experience that’s financially inclusive and doesn’t discriminate in any particular way. It will also be free to register an account and come with minimal fees, making it more accessible to the masses.
BABB is an FCA-registered company based in London, operating in the financial technology industry. The company was founded by Rushd Averroes in 2016 and focuses on decentralized banking systems offering peer-to-peer money and crypto transfer, mobile banking app, Social KYC, and the Black Card.
For more information, view the website here: https://getbabb.com/money/
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