Ternio Launches Crypto Friendly Banking With FDIC Insured Checking Accounts for BlockCard Customers
"Adding a checking account was a natural addition to our mission here at Ternio. That is, the development of a fintech platform that acts as an easy on-ramp for mainstream adoption of crypto and blockchain applications. The checking account creates an opportunity for new users to explore cryptocurrency while supporting current BlockCard holders with an additional feature that will bring them another step close to true crypto-friendly banking." - Ian Kane, Co-Founder and COO.
ATLANTA, July 28, 2020 (Newswire.com) - The global fintech platform, Ternio, best known for its crypto-friendly debit card, BlockCard, has released FDIC insured checking accounts for United States customers. The bank account is the latest feature in a lineup of banking products and services designed to give cryptocurrency and blockchain real-world application.
BlockCard Bank Accounts are free for US customers to open. They work like any traditional online bank allowing ACH or Wire transfer deposits and withdrawals. The BlockCard Bank Account will also enable customers to buy Bitcoin and other cryptocurrencies directly from their US dollar account balance and deliver the purchased Bitcoin directly to the customer’s own crypto wallet.
“Adding a checking account was a natural addition to our mission here at Ternio. That is, the development of a fintech platform that acts as an easy on-ramp for mainstream adoption of crypto and blockchain applications. The checking account creates an opportunity for new users to explore cryptocurrency while supporting current BlockCard holders with an additional feature that will bring them another step close to true crypto friendly banking.” - Ian Kane, Co-Founder and COO.
“Evolve Bank & Trust was thrilled to partner with Ternio on this initiative to help bring compliant and regulated financial services to the crypto community. Having seen the suite of tools Ternio has built, made it an easy decision to work with them as they bring cryptocurrency mainstream. BlockCard is one of the most unique crypto solutions we have seen in the market and offering FDIC Insured checking accounts through Evolve was the perfect complement” – Hank Word, Senior Vice President & Chief Technology Officer, Evolve Bank & Trust.
The much-anticipated service will have the option to work in conjunction with BlockCard Debit Card, allowing users to move in and out of cryptocurrency seamlessly. From a single dashboard, users will be able to transfer funds, buy cryptocurrency, use crypto assets to make purchases, and much more. Users will also have the option of withdrawing USD funds from an existing BlockCard Bank Account to another personal account. Ultimately, BlockCard users will have the option to purchase the cryptocurrency of their choice on the same platform, making Ternio’s BlockCard a comprehensive cryptocurrency banking platform.
Including FDIC insurance with the bank account lends additional credibility to the established BlockCard brand. Account holders will have the same security as traditional banks offer with the flexibility of being able to buy and spend crypto without relying on ACH or wire transfers, or the fees they incur. The BlockCard bank account is currently available to all US residents, with a globally available account coming soon.
Ternio is a global fintech platform built on blockchain. Ternio’s platform connects traditional enterprise, fintech, banking, systems with blockchain infrastructure giving real-world utility to digital assets. Our products, like BlockCard, enable instant remittance and the transfer of value on blockchain rails in a compliant and regulated environment.
BlockCard allows people to buy what they want with crypto at over 50 million merchants worldwide. The BlockCard platform is more than just a crypto debit card. It’s an evolving suite of tools that makes it easier, faster, and more convenient for users to purchase cryptocurrency and use it in their daily life.
Today, the BlockCard debit card is the most efficient way to make a purchase with crypto or convert crypto to cash at ATMs. Within minutes a user can create a BlockCard account, deposit 12+ cryptocurrencies in 1 transaction, pass KYC, and immediately get a virtual card to use while a physical card is mailed to them. https://getblockcard.com
About Evolve Bank & Trust:
Founded in 1925, Evolve Bank & Trust is a best in class financial institution offering specialized services in Payment Processing Solutions, Banking, Mortgage, SBA Lending and Trust. Headquartered in Memphis, TN, Evolve operates banking centers throughout the Mid-South and mortgage home loan centers nationwide. Evolve has been voted a Top Workplace six years in a row and has been named in Inc. Magazine’s 5000 List of the fastest-growing companies.