Fluid Finance SA was the first Swiss firm to have its capitalized in ETH. This has been a major breakthrough for mobile banking.
A Fluid Account, which you only need an email to open—is better than a bank, and better than an exchange. New mobile apps allow users to transfer in and out crypto quickly and link directly to their Web3 wallet.
Robert Sharratt, CEO and founder of the company said: “Fluid Finance is driven by giving as much control as possible to our users. It is not about controlling your money. This is about freedom and an efficient banking system. Fluid is a quicker and more affordable way to move money from your bank into crypto. Once you’ve tried Fluid, you’ll never use an exchange again”.
Fluid’s technologyThis simplifies the everyday usage of cryptocurrency. Their in-house 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 wait times, or creating multiple accounts.
Digital Dollars are not subject to algorithmic stability coin technology. DUSD is real money, on-chain: when you mint DUSD from fiat held in a Fluid Account, the fiat moves to Fluid’s treasury account, where it is held and insured until you redeem. This transaction is verifiable on-chain, as are the reserves in Fluid’s treasury. DUSD cannot be made from USD deposits. The treasury’s public broadcast is available to the blockchain for verification. Because every DUSD has a real Dollar sitting in a bank account, a user can always redeem DUSD 1:1 for cash – no matter what the third party market says.
The users can exchange huge amounts of DUSD for ETH. zero price impact, using Fluid’s revolutionary single point liquidity pool. Fluid is moving away from AMM-based liquidity pool, as we know them from SushiSwap and Uniswap. These pools rely on price discovery to tokens. Fluid relies instead on Chainlink-based external price feeds to determine the ETHUSD price.
And the benefits aren’t limited to the world of DeFi: Base deposits in the Fluid Account accumulate a targeted 4% interest, far higher than interest rates offered at traditional banks. Global funds can be sent free of charge to Fluid Account holders.
Fluid is truly a banking alternative for everyone, and it’s been designed together with the community members who believe in its ability to take on the traditional banking model. The mobile and web apps are now available! Register here app.fluidfi.ch