World Bit Bank - The World’s First Legal Cryptocurrency Bank
The World Bit Bank project will create a group of cryptocurrency banks by acquiring existing banks in different countries (USA, Canada, Brazil, Germany, UK, Switzerland, Turkey, India, Japan, Australia) to service cryptocurrency customers.
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In February 2018 the company obtained a license to work with cryptocurrency - virtual exchange, virtual wallet services in full compliance with Estonian anti-money laundering and financial terrorism laws. The project involves the development of technologies and the establishment of an international cryptocurrency bank under the World Bit Bank (WBB) brand, whose work is based on two key technologies:
mobile, as a means of conducting real-time monetary transactions, and blockchain technology - the use of cryptocurrency (Wibcoin token) as the unit of account in the World Bit Bank ecosystem.
The WBB Wallet mobile application - a mechanism which merges tokens and a debit card. World Bit Bank (WBB) enables bank customers to pay in any cryptocurrency worldwide as long as they have any digital money on their WBB Wallet.
The World Bit Bank (WBB) project offers a new solution developed from blockchain technology and related to 5G finance, specifically:
- absolute transboundariness;
- cross-platform nature;
- easy usage;
- Instantaneousness of transactions;
- funds always under control of the client. The client’s funds cannot be handled without the client’s approval;
- low or zero transaction charges;
- high security thanks to cryptography;
- API with open source code;
- full transparency of source and movement of funds between accounts;