Client spotlight: Moneyfold

Published: July 22, 2021
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Meet Moneyfold, the DeFi fintech bringing blockchain to the mainstream. They provide financial services to crypto businesses such as DeFi on/off ramps. They have been regulated in the UK since day one.

Nikola Tchouparov

CEO and Co-founder at Moneyfold

​A serial blockchain entrepreneur and financial services executive. Most recently Nikola launched a crypto mining operation before co-founding Moneyfold, a financial services provider to the DeFi space.

What sets Moneyfold apart from other crypto businesses?

We are not really a crypto business. We provide financial services to crypto businesses such as DeFi on/off ramps. We have been regulated in the UK since day one.

 

How did Moneyfold first come about – what’s your origin story?

We wanted to combine modern technology with common sense, so in 2017 we applied to the FCA regulatory sandbox to showcase how government issued id can be used as a payment instrument within the constraints of the regulatory framework. Since then we have introduced a number of other innovative products.

 

What products are you particularly excited to launch?

The eidoo DeFi card in partnership with Contis and Eidoo – it is the first layer 2 card on Ethereum and allows me as an individual to socially distance from the banks. I have successfully debanked myself. Also GBP CBDC – Pound Sterling Central Bank Digital Currency – as far as we are aware it’s the first synthetic CBDC to hit the market. Naturally it’s available on public blockchains like Algorand and Ethereum, so you can transact 24/7 in real-time without counterparty risk.

 

What products and services does Contis enable that help you benefit your customers?

Contis is our gateway to the Visa network. The buffer facility enables the eidoo DeFi card and we are looking forward to integrating the virtual IBAN’s.

 

Where do you see Moneyfold in 5 years?

I expect we will be a mid-sized financial firm continuing its technological edge and boutique approach. With an international footprint and a dozen product offerings. We already have 4 regulatory licenses and have applied for 2 more. Adding licenses opens access to new markets, so we plan to keep at it.

 

Where do you see crypto and DeFi heading in the future?

I see crypto and DeFi as a multi-decades trend, largely displacing the depreciated financial infrastructures. It’s already happening and it makes sense in the geo-political context. After 10 years of building, we are only 2% there, so we are still very early.

 

Thank you for sharing those insights Nikola. To learn more visit moneyfold.co.uk and follow them on social media:

By: Uche Graves
Published: July 22, 2021
Categories: Client Spotlight

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