In a statement, Keytom announced; “a new era of financial management by organizing all digital assets in one convenient location.” They launched a neobank focusing on businesses in the traditional fiat and cryptocurrency.
Keytom statement:
“At its core, the company champions financial empowerment, positioning itself as the ‘one bank for all digital assets.’ Keytom’s vision lies in dismantling financial barriers and uniting fiat and crypto domains within a cohesive framework accessible to everyone,” the release said. “The neo bank’s clients can oversee their funds via a unified interface accessible through web browsers or a mobile application.”
Keytom is a Dubai-based company that Eugene Krasicki founded as the bank’s founder and CEO. Their vision and mission are bridging the gap between traditional banking and fintech technologies. Their aim is ushering in a new era of financial management. For now, their neobank intends to offer cryptocurrency and USDT for investment strategies or transactions, and soon, they will add swaps and fiat options. Whenever crypto/fiat payments become operational, in early 2025 or at the end of the year, they will shift to offering collateral loans, staking, and cashback services. Krasicki said that they will work on integrating cryptocurrencies into their services alongside traditional banking solutions.
Crypto industry observers believe that despite the hard year of 2023 for crypto, there will be a potential for blockchain technology and cryptocurrencies to revolutionize financial inclusion. For example, consider marginalized and unbanked communities that can use it by removing barriers like the absence of digital identity.
The vice president of expansion and crypto at Tala, Ajay Rajani said: “Identity is required for participation in basically any system or network, but particularly for high stakes and highly regulated financial networks,” he added, blockchain technology eliminates barriers to participation and everyone can have transacted on its decentralized network.
Blockchain technology is different from traditional banking, where individuals face limitations and requirements that can’t be met. With the help of blockchain-based assets, marginalized populations can pass the identity gap that prevents them from using their financial options.
Rajani believes that “It creates a great conceptual unlock,” and with lower transaction fees that can replace fiat rails, “entirely new classes of transactions.”
