Charlestown, Saint Kitts and Nevis, February 6th,
2025, Chainwire
WeFi,
a Web3 financial ecosystem, announces the launch of its deobank —
the first Decentralized Onchain Bank aimed to remove the boundaries
between physical payments and the DeFi world. Planning to draw from
WeChain’s decentralized ZK Payment Engine capabilities and relying
on AI-assisted simplified compliance procedures and AI agents,
WeFi’s deobank is committed to channeling innovation into the
financial sphere and offering banking services to everyone,
including previously disadvantaged populations.
Unlike the existing neobanks, deobanks as a new category of
financial services providers will offer their clients full control
over their deposited funds through non-custodial wallets. In the
current unstable regulatory environment, account freezes and
withdrawal limitations are increasingly becoming the norm, meaning
that users frequently lose flexibility in managing their funds or
access to their custodial wallets.
WeFi’s deobank breaks with perpetuating legacy TradFi flaws,
fully committed to catering to people who would like but cannot
participate in the global financial system. Leaving excessively
stringent account opening criteria in the past, deobanks will adapt
their regulatory stance to comply where it is needed while
leveraging its technology to simplify and streamline KYCs thanks to
AI.
Operating entirely on blockchain, WeFi’s deobank will bypass the
outdated banking infrastructure by limiting its ties to traditional
financial institutions. Removing intermediaries entirely, WeFi’s
deobank creates greater security, reduced operating costs, and
enhanced transparency — all while offering better flexibility to
adapt to the constantly evolving global or local regulatory
environment. Preserving access to fiat money on ramps and off
ramps, deobanks as a vertical will mainly rely on stablecoins,
making transaction confirmations fast, secure, low-cost, and
border-independent.
WeFi’s
deobank plans to adapt to the increasing demands for customers’
flexibility. The modern consumer culture relies on phones, and very
few people actually need a plastic card in the times when most
payments can be made through Apple Pay and Google Pay.
“This is not just a new product — it's a new paradigm
in digital banking”, comments Maksym Sakharov, Co-Founder and Group
CEO at WeFi. “The rise of neobanks has transformed the way we think
about opening a bank account, transferring money, dealing with
cross-border payments and exchange rates. But neobanks dropped the
ball way too early — and WeFi is here to pick it up. By removing an
additional layer of the TradFi limitations, we will be able to make
banking more convenient, accessible, and all-encompassing than ever
before.”
Discarding the low APR interest rates
for traditional bank deposits and savings accounts, WeFi will offer
its customers an opportunity to build meaningful wealth generation
through DeFi and Web3 services. Individualized AI agents will adapt
to the user’s personal risk aversion profile and preferred
investment opportunities, offering advice in navigating the crypto
sphere, helping execute trades, and boosting earnings. By
purchasing the ITO node, contributors will be able to participate
in token minting and offer their computational capacities for
network validation and functioning. Shortly after its launch, the
product will include options like staking, and participation in
liquid pools with more variability to follow with the expansion of
the WeFi ecosystem.
The platform also plans to integrate
WeFi’s native token, WFI, rewarding its users for participation in
the ecosystem’s decision-making process with fee rebates, higher
spending limits on cards, and more.
About WeFi
WeFi
is the world's first Deobank - Decentralized Onchain Bank. It
leverages Blockchain Technology to simplify DeFi experience while
keeping it fast, secure and efficient. On top of all the
traditional financial services like virtual cards, loans and asset
transfer, WeFi proposes non-custodial accounts and stablecoin
earnings powered by AI Agents.
More information can be found here: Website | X
Contact
WeFi
press@wefi.co