 of households are unbanked and 24.5 million do not have banking access. Which means thousands of US dollars are used in untapped activities which is cannot be tracked. And according to world bank report the unbanked people's rate is even lower outside the OECD countries and this falls below 20 percent in middle East & North Africa.
The unbanked people are often use alternative services like pawnshops, microcredit networks, salary lenders and international money transfers. Despite the highest rate of interest and non flexibility. This is because the present banking Institutions have inadequate financial structure, have to maintain minimum balance to avoid fee charge and complex banking procedures makes people to go away from the banking facilities.
The CAPVERTO Exchange
As we discussed there are millions of people around world are excluded from banking services. Due to inadequate financial infrastructure, inflexible account maintenance issues makes people to go away from banking services. CAPVERTO Exchange is a digital utility token which is aimed to help unbanked people.
On the mission of bridging the gap between fiat and cryptocurrency; CAPVERTO Exchange uses prepaid cards to achieve this. Because prepaid cards provide larger benefits like: liability protection, easily reloadable at no/minimal fees, easy to use and can be usable at POS terminals. The popularity of prepaid cards is increasing and linking it with cryptocurrency makes it more advanced and secure. CAPVERTO Exchange's prepaid cards comes with different colors of different tiers provided with different features. Like Blue, gold, platinum and black. The blue card is a basic card starts with $100. These prepaid cards are available for everyone internationally. For using these cards for purchases in stores, users will receive cashbacks in CAP tokens. And 2% of the charged transaction fee is reinvested in CAP.
Capverto MVP
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Roadmap
