BABB Makes Strides in Bridging Crypto and Fiat Economies with New Hybrid Money Account
All your money, stable-coins & crypto, in one app!
What’s a Babb Hybrid Money Account?
BABB, the pioneering blockchain financial service platform, has released a new Hybrid Money Account this week, which promises to make it easier than ever to bridge the gap between cryptocurrencies and the traditional economy.
The Hybrid Money Account is centered on the idea of making a positive contribution to society. Babb has a history of dedication to the cause of financial inclusion, and its most recent offering is a potent instrument that can assist in the accomplishment of that objective. People in every part of the world will have easier access to financial services as a result of BABB’s innovative approach to integrating conventional financial functions with cutting-edge blockchain financial objectives.
Okay cool, but what exactly does this entail for users on a daily basis? 🤔
One implication of this is that those who were previously barred from accessing standard financial services are now eligible to open a GBP Account that comes with the main bells and whistles traditionally associated with such accounts.
This includes, accessing day-to-day financial services, spending your money anywhere (Mastercard Accepted) with the Babb Debit Card 😱, and other financial goods that are typically restricted to individuals with an established credit history.
So, it’s just like any other money account out there? 👀
The purpose of the Hybrid Money Account is not only to provide individuals with access to a variety of financial products but also to provide individuals with access to a more favourable financial future. Users are able to connect with communities and groups of people who share similar interests through the specialised social networking features offered by Babb. This facilitates the exchange of information and resources that contribute to the users’ mutual growth and success. This results in a significant network effect, making it possible for people to accomplish more collectively than they ever could!
Now, let’s do some maths 🤓
According to CoinMarketCap, the total market capitalisation of all cryptocurrencies is over $2 trillion as of September 2021. The worldwide cryptocurrency market size was valued at $792.53 million in 2019 and is predictable to reach $5.19 billion by 2026, with a CAGR of 30.2% from 2020 to 2027, according to Allied Market Research. The fiat economy, which refers to traditional government-issued currency, is much larger than the cryptocurrency market. For example, the global GDP was estimated at around $84.8 trillion in 2020, according to the World Bank. These statistics provide a broad picture of the cryptocurrency and fiat economies and their potential for growth and development.
It should come as no doubt that the capability of the Hybrid Money Account to bridge the gap between the crypto and fiat economies is one of the most significant advantages offered by this product. This means that people can quickly move money between other currencies and assets without having to worry about exchange rates or any other issues. This is a significant benefit for everyone who is interested in making the most of the chances made available by the fast-developing world of cryptocurrencies.
Want to try the new Hybrid Account? Download the Babb App 📲👇
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, money accounts, and cards…
For more information, view the website here: https://getbabb.com
Disclaimer: Cryptocurrency services are not currently regulated by the Financial Conduct Authority or any other regulator in the UK. You should carefully consider whether trading or holding digital currencies or cryptocurrencies is suitable for you in light of your own financial situation and attitude to risk, as evaluated by you carefully. We do not make any representations or recommendations regarding the advisability or otherwise of trading in digital currencies and cryptocurrencies or any particular transaction.