On February 3, 2021, TABANK, a crypto firm based in Singapore, announced the launch of a blockchain-powered financial services platform. The unique platform will support sustainable trading, online payments, investments, savings, and lending.
Bringing Blockchain To The Masses
The launch of Bitcoin in 2009 also introduced the world to blockchain technology. Today, platforms are being developed that are powered by blockchain infrastructure. These platforms hope to offer services that challenge what is available via the traditional banking system. By integrating the blockchain into the financial services sector, users get access to better safety, increased control, transparency, and enhanced convenience.
While the crypto space has grown astronomically, there are still a lot of improvements that can be made when it comes to safety, utility, and convenience available to end-users. TABANK, a crypto firm, which is part of the TAB Group, is working to sort out these issues with an end-to-end crypto platform.
Understanding TABANK
TABANK was created as a global online platform that offers digital banking services to the masses. Besides offering online payment services, the platform also offers a savings feature, lending, and investment solutions. The result is that users enjoy enhanced convenience through “one-stop” financial solutions.
TABANK has created a crypto platform, which is powered by the blockchain. Users get to enjoy enhanced safety, security, and transparency. The company plans to connect 36 million users from different sectors such as real estate, banking, tourism, media, entertainment, e-commerce, hotels, and investment channels.
TABANK’s Blockchain Integration
A unique aspect of TABANK is the underlying architecture that is powered by a blockchain network called the Tomo Chain. The Tomo Chain blockchain is based on advanced algorithms that are secured using the Proof of Stake mechanism.
By leveraging blockchain technology, TABANK offers users a faster and cheaper experience due to PoS mechanisms. The platform is also highly secure and convenient. Tomo Chain is built to support the deployment of Decentralized Applications. The result is that developers can come up with unique and interesting projects that offer value to users.
The sole objective of TABANK is to offer users a secure method to handle their assets while providing them with opportunities to maximize profitability. For this, users have access to a wide array of financial products such as investment vehicles, loans, crypto wallets, and more. Each of the services gives users the opportunity to trade independently, no matter where they live.
The TABANK platform also features a native coin called the TAB coin, whose sale is currently ongoing. Once the sale is completed, the company plans to list the coin on leading crypto exchanges towards the end of 2021.
A team of experienced professionals in the tech sector leads the company. TABANK promises to deliver real value to users in the crypto space through a wide array of innovative financial products, which utilize blockchain technology.
With various financial services powered by blockchain already succeeding in the DeFi space, TABANK holds a lot of promise. It is believed that DeFi applications will put tremendous pressure on traditional banking. Mike Novogratz, a power-house in the digital asset space, recently stated that DeFi based cryptocurrencies could take over JP Morgan in the next 5 years. Some of the tokens he mentioned include Chainlink, Aave, Compound, YFI, and others. He also stated that:
“There’s a chance that those five blow up the world, not in the next week, or the next month, but in the next five years,” Novogratz said. “Those are the tokens that want to take the banks and tear the banks limb from limb, that want to replace JPMorgan and the New York Stock Exchange and so I put some money into those things. It’s much riskier, but if it works, it’s going to be a much bigger payoff.”
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