Press release
PRESS RELEASE. fluid finance submitted a proposal to integrate the decentralized stablecoin DAI directly into the traditional financial system. It would be the first time that a stablecoin could be purchased directly from a bank account.
Jessica Walker from Fluid said: “One of the problems with cryptocurrencies is the lack of connection to the real world. Fluid solves that by integrating Dai directly into our accounts. Users can buy Dai directly from us using dollars, euros, pounds, and dozens of other currencies. Dai holders can now also buy coffee on their Fluid Cards, which operate on the Mastercard network.”
Liquid offers traditional bank accounts in Europe and the UK and flow accounts, which are open to anyone around the world. Users can connect their Web3 wallets to these accounts, for a seamless TradFi – DeFi experience. “Gone are the days of having to go through an exchange,” Walker said.
“Our main motivation was to offer an alternative to money transmitters, who charge exorbitant fees,” said Tina Bielowski. “We use Dai as part of our payment rails, along with integrations into the traditional system, and the end result is that the world’s poorest get a better deal. Even better, since the money is delivered directly to the user’s phone, it allows vulnerable people to be in control of their financial lives.”
Fluid’s own digital money provides the integration solution that has been lacking for so long in the world of cryptocurrencies. When combined with Dai, Fluid’s offering aims to connect the two worlds and remove barriers to adoption.
Fluid’s detailed proposal can be seen here: https://forum.makerdao.com/t/mip99-offer-dai-to-cefi-projects-to-enable-real-world-use-cases/19466
https://github.com/makerdao/mips/pull/768
More details
Fluid allows Dai holders to get out of crypto into a bank account (or fluid account) in less than a minute. Cardholders can also spend their Dai on their Fluid Cards, which run on the Mastercard network. These cards are available to anyone, all over the world.
See these on YouTube here: https://bit.ly/3XfExEG.
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