With the technology and possibilities that are available to us now with blockchain, traditional banking mechanisms are lacking with outdated mechanisms that warrant unnecessarily high fees. Until now banks have dominated the space in how we safely store and transfer money all around the world, however without an upgrade and leveraging the revolutionary technology that’s available to them, banks will very soon be left behind.

There are several limitations that are currently experienced by traditional banks and financial institutions, to name a few:

Traditional banking institutions primarily have access to their local markets only, thus limiting the options of customers.

The alternative option for transferring money abroad via ‘SWIFT’ is slow and also encounters high fees.

The centralized nature of banks controlled by an oligarchy does not sit well with millennials, who understand that there are now far better and more secure options.

Everex offers solutions to these and more common problems that will increasingly confront traditional banking organizations as we move into the future. By enlisting to become a facilitating provider within the envisioned Everex Banking Network, cooperating banks will gain access to a world of new markets and opportunities, and join in pioneering the revolutionary shift in the industry to connect the globe with blockchain payments.



The Everex solution enables seamless cross-border money transfers, direct payments, crypto/fiat currency exchanges, and lending over the blockchain in a more efficient and affordable way than ever before.



Today’s global remittances are burdened with inexplicably high fees and significant delays. Everex on the other hand, with its blockchain-powered remittance program, optimizes payments to bring lightning-fast money transfers around the globe coupled with low fees. Collaborating organizations on the Everex Banking Network can enjoy under 30 second settlement times for money transfers and trade remittances.



For all banks that join and test the new system, Everex will match them with current banking partners to start facilitating transaction revenues from this newly-opened corridor for money transfers.



Everex’s global blockchain-based remittance program is already fully backed in Myanmar, where it has teamed up with Shwe Urban, Rural Development Bank and one of Thailand’s leading banks, the name of which is expected to be released shortly, once approved by the Bank of Thailand. As a result Everex is supplying digital remittance services to the underbanked population between Myanmar and Thailand, who will soon be able to send and receive money effortlessly, with lower fees and faster transaction times.



Ripple is a similar blockchain service provider, targeting banks, but with a few key differences that are important to distinguish between the latter. Everex’s primary focus is on launching and working with fiat backed stable coins, pegged on the Ethereum public blockchain. While Ripple connects banking partners via its own private and permissioned network, and in some use cases and products uses own native coin, XRP, to facilitate transactions.



Dissimilarly to Everex, Ripple does not use stable coins, nor does it benefit from smart contract architecture, due to the original functionality of Ripple’s network in comparison to Ethereum. In addition, Ripple services are limited to already-banked customers, who have an account with a participating bank. Everex’s network on the other hand, builds on Ethereum, and allows for unbanked and underserved individuals to be included in the global financial economy, irrespectively.



Everex presents unprecedented possibilities and increased potential of profitability for the opportunist organizations who’re ready to learn more about leveraging the world’s most reliable and trusted blockchain Ethereum.



Everex invites banks looking for blockchain solutions to expand their services to reach out and initiate a conversation via team@everex.io.



Interested in finding out more? Check out the Everex.io, or join the community discussion on Twitter, Telegram, and Facebook.