Keabank, a Cyprus-based neobank, has integrated USD payment processing into its global infrastructure, as part of its commitment to blend traditional currency with blockchain solutions.
Announced at IFX EXPO Cyprus 2024, Keabank revealed that by incorporating USD payment processing into its services, it will enable businesses and individuals to manage both fiat and crypto transactions in one unified platform.
Keabank also unveiled the development of the world’s first synthetic blockchain neobank at the event. It explained that the concept aims to reimagine how financial institutions operate by embedding blockchain at the core of banking services.
Mark Berkovich, CEO of Keabank
“The Synthetic Blockchain Neobank isn’t just an update to the traditional banking model – it’s a complete transformation,” explained Mark Berkovich, CEO of Keabank. “By leveraging blockchain, we can deliver unprecedented levels of transparency, security, and efficiency, disrupting the current banking system and paving the way for the future of finance.”
The synthetic blockchain neobank utilises smart contracts to ensure transparent and precise control over funds. It also looks to enhance security processes by storing critical compliance data on the blockchain. The concept also maintains transparency with real-time, blockchain-based reserve tracking.
Although still in the planning stages, this initiative is expected to take between two and three years to fully develop, with Keabank building the foundational technology to support a future bank powered entirely by blockchain.
Meanwhile, in line with its broader strategy to make financial services more accessible, Keabank also announced plans to launch a mobile app, in a move to enable users to manage their finances directly from their devices. Currently under development, the app hopes to empower clients to handle their financial activities with ease and convenience.
With the introduction of USD payment processing, the development of its Synthetic Blockchain Neobank, and the forthcoming mobile app, Keabank continues to set the pace for innovation in both traditional and blockchain-driven financial services.
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