Home CryptoCurrency News Connect your MetaMask to your bank account, Fluid Finance is now live!
CryptoCurrency News - June 11, 2022

Connect your MetaMask to your bank account, Fluid Finance is now live!

Fluid Finance SA, the first Swiss company to be capitalised in ETH, has brought something revolutionary to the world of mobile banking.

A Fluid Account, which you only need an email to open—is better than a bank, and better than an exchange. The newly launched mobile app allows users to move in and out of crypto in seconds and connect directly to their Web3 wallet.

CEO and founder Robert Sharratt said: “Fluid Finance is driven by giving as much control as possible to our users. This is about control of your money, this is about liberty, and a much more efficient banking system. We offer a faster, cheaper way to go right from your bank account into crypto and back. Once you’ve tried Fluid, you’ll never use an exchange again”.

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Fluid’s technology streamlines your everyday use of crypto. Their in-house digital currency—Digital Dollar (DUSD)—and integration with the Arbitrum portal allow users to mint from their fiat bank balance in seconds without high fees, long wait times, or creating multiple accounts.

And unlike algorithmic stablecoin technology, Digital Dollars do not lose their peg. DUSD is real money, on-chain: when you mint DUSD from fiat held in a Fluid Account, the fiat moves to Fluid’s treasury account, where it is held and insured until you redeem. This transaction is verifiable on-chain, as are the reserves in Fluid’s treasury. DUSD can therefore only be created by real USD deposits, and the treasury is publicly broadcasted to the blockchain to verify. Because every DUSD has a real Dollar sitting in a bank account, a user can always redeem DUSD 1:1 for cash – no matter what the third party market says.

Users can then exchange large amounts of DUSD to ETH with zero price impact, using Fluid’s revolutionary single point liquidity pool. Moving away from AMM-based liquidity pools as we know them from SushiSwap or Uniswap, which rely on price discovery for tokens, Fluid instead relies on Chainlink oracle-based external price feeds for the ETH-USD price.

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And the benefits aren’t limited to the world of DeFi: Base deposits in the Fluid Account accumulate a targeted 4% interest, far higher than interest rates offered at traditional banks. Fluid Account holders can also send funds globally, for free, in seconds.

Fluid is truly a banking alternative for everyone, and it’s been designed together with the community members who believe in its ability to take on the traditional banking model. Its mobile app and web app are live! Sign up here: app.fluidfi.ch.



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