Fiat24 EUR Price(EUR24)

Fiat24 is a Swiss Web3 bank that operates under the regulation of Swiss banking law by FINMA. It functions as a decentralized application, or DApp, that integrates banking logic onto a public blockchain, specifically the Arbitrum network. The project aims to combine traditional banking services with Web3 blockchain payment innovations, providing users with a transparent and immutable transaction system. The Fiat24 EUR (EUR24) token is an ERC-20 token that is pegged to the Euro. It is backed one-to-one by cash deposits and issued by SR Saphirstein AG, a Swiss-licensed deposit-taking institution. Similarly, USD24 and CHF24 are tokens pegged to the US dollar and Swiss franc respectively. These tokens represent the equivalent amount of legal currency held in a user's Fiat24 bank account. A key feature of Fiat24's architecture is the use of non-fungible tokens (NFTs) to represent user bank accounts. If a user possesses the NFT in their wallet, they gain control over all Fiat24 services. The ID of the NFT also serves as the account number for Fiat24. This system replaces traditional login credentials, with users interacting through wallet signatures. Fiat24 offers a range of Web3 banking services, including deposits, crypto-consumption payments, savings, transfers, and currency exchange. Users can manage both fiat and cryptocurrencies within a single dashboard. The platform provides users with a unique Swiss IBAN account number, supporting multiple currencies such as EUR, CHF, USD, and CNH, which are stored in ERC-20 form on the blockchain. Fiat24 also integrates with major payment channels like SEPA, SIC, SWIFT, and offers debit card processing, including support for Apple Pay, Google Pay, and Samsung Pay in eligible regions. All transactions are recorded on-chain for transparency. Fiat24 can be added to crypto wallets like MetaMask by using its smart contract address. Learn more

Looking to buy How to buy EUR24? The process is simple and hassle-free! You can easily purchase EUR24 on LBank by following our step-by-step buying guide. We provide detailed instructions and video tutorials showing how to register on LBank and use various convenient payment options.

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