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FreeBnk and E Money Network join forces to bring IBAN to the blockchain

Monday 24 June 2024 12:15 CET | News

FreeBnk has partnered with E Money Network, a MiCA-compliant modular chain built for tokenising real-world assets.  

 

As per the official announcement, the partnership enables FreeBnk users to obtain an IBAN via E Money Network’s compliance-focused protocol to conduct cross-border financial transactions and manage their affairs easily and securely.

The EU’s Markets in Crypto-Assets Regulation (MiCA) has impacted the blockchain industry since its implementation. Designed as a foundational framework for common blockchain oversight, MiCA stands as one of the most comprehensive and extensive regulations for the digital asset industry. MiCA has prioritised compliance and security for blockchain users and projects, particularly in the growing tokenised real-world asset (RWA) sector, which is projected to reach a value of USD 10 trillion by 2030. 

FreeBnk has partnered with E Money Network, a MiCA-compliant modular chain built for tokenising real-world assets.

Bridging traditional banking and defi for global transactions 

Through the partnership, E Money Network highlights its adaptability across financial ecosystems by issuing IBANs to Freebnk’s user base. IBANs grant FreeBnk users the ability to transact globally and send money securely while remaining compliant with fiat and digital asset regulations.  

This collaboration enhances FreeBnk by integrating traditional banking cornerstones with DeFi features, fostering greater financial inclusion and accessibility in the growing digital asset space. 

E Money’s issuance of IBANs enhances FreeBnk’s offerings, including blockchain-powered international money transfers, cross-chain services, lending solutions, and tools for investing in RWAs. IBAN availability represents a core element of FreeBnk’s commitment to providing convenient and versatile financial services tailored to meet the needs of the evolving digital economy. As the universally recognised identification system for overseas bank accounts, easily accessible IBANs accelerate FreeBnk’s and E Money Network’s collective vision to bridge the gap between standard banking practices and blockchain-based solutions. 

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Keywords: IBAN, blockchain, MiCA, financial services, partnership, crypto
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3