Fluid Finance SA, the first Swiss company with ETH capitalization, has brought something revolutionary to the world of mobile banking.
A Fluid account that takes just an email to open is better than a bank and better than an exchange. The newly launched mobile app allows users to get in and out of crypto in seconds and connect directly to their Web3 wallet.
CEO and Founder Robert Sharratt said, “Fluid Finance is powered by giving our users as much control as possible. This is about control of your money, this is about freedom and a much more efficient banking system. We offer a faster and cheaper way to switch to crypto and back directly from your bank account. Once you try Fluid you will never use an exchange again”.
Fluid’s technology streamlines your daily crypto usage. Their internal digital currency – Digital Dollar (DUSD) – and integration with the Arbitrum portal allow users to mint from their fiat bank balance in seconds without high fees, long waiting times or creating multiple accounts.
And unlike algorithmic stablecoin technology, digital dollars are not losing their peg. DUSD is real money, on-chain: When you mint DUSD from fiat in a Fluid account, the fiat moves to Fluid’s treasury account, where it is held and insured until you redeem it. This transaction is verifiable on-chain, as are the reserves in Fluid’s treasury. DUSD can therefore only be created by real USD deposits, and the treasury is publicly sent to the blockchain for verification. Since every DUSD has a real dollar in a bank account, a user can always redeem DUSD for cash 1:1 – no matter what the third-party market says.
Users can then exchange large amounts of DUSD for ETH zero price impact, using Fluid’s revolutionary single-point liquidity pool. Fluid relies away from AMM-based liquidity pools like those we know from SushiSwap or Uniswap, which rely on token pricing, and instead relies on Oracle-based external price feeds from Chainlink for the ETH-USD price.
And the benefits aren’t limited to the world of DeFi: Basic deposits in the Fluid account earn interest at a targeted 4%, far higher than rates offered at traditional banks. Fluid account holders can also send money worldwide for free in seconds.
Fluid really is a banking alternative for everyone and it was developed together with the community members who believe in its ability to adopt the traditional banking model. Its mobile app and web app are live! Register here: app.fluidfi.ch.
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