A new smart banking ecosystem based on blockchain technology is offering an all-in-one platform for managing cryptocurrencies, fiat money and stocks — and hopes to make crypto payments practical and widespread.

Platio believes that, eventually, all financial assets are going to be tokenized and run on blockchains — completely transforming the international financial system. However, the company says progress has been slow because some cryptocurrency features are making businesses and consumers anxious.

Its platform is going to provide users with peace of mind knowing that their financial assets are safe via a suite of tools. Platio hopes to assuage concerns about unreliable consumers and merchants through a Smart Escrow tool, which helps both parties feel confident that transactions will go according to plan, as dispute resolution will be available if payments aren’t made or goods and services aren’t delivered.

Other features in the startup’s ecosystem include Asset Guard, which aims to ensure that a user’s crypto is never lost. This feature enables Platio customers to automatically transfer their funds somewhere else if an account has not been accessed for a predetermined period of time. For ease of access, the company is also going to offer virtual and physical payment cards which can be used for making withdrawals at ATMs or purchases, with easy exchanges and top-ups in both cryptocurrency and fiat.

Asset Guard also aims to help crypto holders protect themselves against volatility in the market, especially if they don’t have the time to constantly check prices and make frequent trades in order to preserve the value of their investments. Through this tool, funds can automatically be transferred between asset types once certain conditions are triggered — such as a swift and substantial surge or decline in a cryptocurrency’s value.

Dima Okhrimchuk, the chief executive of Platio, told Cointelegraph: “Even in the notoriously unpredictable crypto markets, our customers can relax, knowing their funds are being looked after.”

Solutions for businesses

To fuel the expansion of its platform — and ensure customers receive the right services for them — Platio plans to offer three tiers of access.

Whereas the Basic plan does not require a monthly fee, the costs associated with using Platio’s exchange and brokerage, and its payment cards, are higher — with limited access to Smart Escrow and invoicing tools. These fees are reduced for Advanced members and even further for Premium members.

This upper tier, which does come with a monthly fee, could be particularly useful for businesses who hope to accept crypto payments from their customers, or for shoppers who want to pay in crypto at a place which only accepts fiat. Platio believes its infrastructure can help companies increase their output while reducing the expenses associated with using traditional banking systems — as well as the time it takes for many transactions to clear.

The company, which is headquartered in London, is a regulated Authorized Payment Institution under the United Kingdom’s Financial Conduct Authority — and also holds EU licenses for cryptocurrency operations. These credentials were obtained by the start of 2018.

Developing the ecosystem

A private presale for PGAS tokens — the utility token at the center of Platio’s ecosystem — began on Aug. 20 and concludes on Oct. 7. This will be followed by a public presale from Oct. 8 to Oct. 21. Finally, the public sale will start on Oct. 22 and run until Nov. 4.

Looking to the future, Platio aims to have functionality for payments and remittances, invoicing, and processing for online merchants up and running by 2019. The second half of the year will see the first iterations of its brokerage and exchange, Asset Guard and Smart Escrow. These products are going to be completed in 2020, although these timeframes are subject to change.