When people hear the term financial services, the first thing that comes to mind is traditional banking institutions. These institutions are old, expensive and extremely difficult to access for a large part of the world’s population. Seismic Crypto Bank Ltd was established to provide its customers with an easily accessible, cheap and extremely fast service. Using the blockchain, financial transactions can be completed in seconds and will cost the customer a nominal fee of no more than a few cents.
Currently, the target market, the unbanked in South Africa, consists of 19 million people and investors should bear in mind that this is only in South Africa. With a global number approaching one billion people, Seismic has a wonderful opportunity to revolutionize the way banking and financial transactions have been done until now. It is essentially an uncontested market, and with the scope of the possibilities, global adoption is only a matter of time.
Before Seismic Crypto Bank opened, the company raised capital as a startup and launched a token on the Binance Smart Chain platform. Seismic Crypto Bank has also developed a fully functional web application that supports all the functions and services it will offer.
In its initial rollout, Seismic Crypto Bank customers will be able to make payments to other Seismic account holders, purchase mobile plans, prepay for their utilities, and be able to make purchases or withdraw cash with their debit card. Seismic (limited to KYC customers only).
To maintain a profitable business, Seismic Crypto Bank charges a 1% fee for all deposits into Seismic via a credit card, 0.5% charged to participating merchants for each swiped Seismic debit card, and a 5% fee on all prepaid products purchased. On the Binance smart chain side of Seismic Crypto Bank, they collect fees through buy and sell transactions made on the platform.
Currently, for Binance smart chain investors, 20% of the shares of Seismic Crypto Bank Ltd will be held in a trust. Investors will receive dividends on a quarterly basis, with the first scheduled dividends to be paid in Q3 2022. Seismic is also currently developing several additional utilities for Binance Smart Chain investors. It’s about consistently delivering innovation, passive income, and genuine utility to Seismic Crypto Bank its investors.
To learn more about Seismic Crypto Bank, click on the hyperlinks below:
Company Name: Seismic CB Ltd
Contact: Media Relations
E-mail: Send an email
The country: South Africa