An artificial intelligence-powered platform designed to enhance traditional mobile banking with seamless crypto integration is about to launch v2 of its mobile application, describing it as an all-in-one crypto-financial solution.
BlockBank, which describes itself as a platform designed for professional traders and new retail market participants, reported that the new version of its application is a significant advancement compared to what has been offered in the space so far. The application is said to consist of four main components: a centralized custodial wallet, a non-custodial Web 3.0 wallet, banking and an AI-powered robo-advisor.
The team emphasized that users won’t have to sacrifice security, privacy or decentralization when using its application. One of the measures taken to ensure a high level of security is BlockBank’s partnership with Shield Finance, a multichain decentralized finance insurance aggregator, and Bridge Mutual, a platform that integrates a DeFi risk coverage application into its system.
The digital bank has also partnered with Hapi to protect users from malicious attacks and will utilize specifically designed smart contracts — decentralized security oracles — to consistently provide data into the mainchain.
Money in your pocket
The custodial wallet — one of the new features of the upcoming v2 of BlockBank’s application — is expected to enable staking, borrowing and trading through APIs on central exchanges. The platform said the wallet will also store and insure assets, offer fiat on- and off-ramp options, and will comply with Know Your Customer/Anti-Money Laundering requirements.
The non-custodial wallet is already available in the current version of the application and will be enhanced with a Web 3.0 browser and multi-asset chain support implementations at the launch of v2.
BlockBank’s banking system will also benefit from an updated version. With v2, the tech stack will allow users to have a fully active bank account, including credit and debit cards. Both wallets and the banking system will be displayed in a single user interface.
Kelghe D’cruz, founder and CEO of BlockBank, said: “At BlockBank, we strive to provide financial empowerment to our clients. We want to help them make all financial decisions in one secure place, with the support of research-backed insights. That’s a hefty mission, which is why we’re partnering with sophisticated tech companies that will help support our goals.”
Robots to the rescue
The platform highlighted that a main advancement of the new app is a digital robo-advisor built on improved AI technology. It will purportedly include real-time trading activity, social media and news.
BlockBank’s partnership with API3 and Modefi has enabled the integration of the robo-advisor, which, in turn, provides up-to-date, precise and reliable data.
According to the company, the AI technology will develop to handle risk profiling, suggest trading strategies and prevent potential fraud, among other features.
Among the already mentioned collaborations, BlockBank also works with Xend Finance, Umbrella Network, Poly Network, Ontology, PlasmaFinance and Chainlink.
BlockBank emphasized that its vision is “to close the technical and knowledge gaps by serving as a financial advisor for the entire community.”
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