London, UK – The era of digital mobile and mobile Internet has truly arrived, with all global entities investing heavily in this trend, the banking industry is no exception. DB3, a world-renowned digital bank recently launched its digital asset management mobile app, and plans to gradually integrate its business development into the app.
DB3 Digital Asset Management App is a product specially designed for the Digital Finance sector. The recently released version 1.0 has a variety of functions, including chat functions, multi-functional encrypted wallets and OTC (Over the Counter) trading market. Data safety has always been an important issue in the finance industry and to protect its users’ data, DB3 uses mandatory end-to-end encryption to ensure that no chat data is stored on its servers. Users can also own and manage their crypto wallets, simply by registering user accounts with DB3. Users can then carry out transactions with peers that are made easier over the one-to-one in-chat exchange function. The encrypted wallet currently supports three different digital currencies, Tether (USDT), Ethereum (ETH) and DB3 token which is issued by DB3 Bank. DB3 OTC is a free market and all digital currency buyers and sellers are welcome to participate. The DB3 Digital Asset Management App is now online and available for users globally.
It is understood that DB3 will launch version 2.0 of the app come end 2020. This version will cover various functions of cross-border remittances such as order tracking and matching, cross-border payment and conversion, DB3 red packets, group payment etc. The core concept is to use encrypted digital assets to provide fast and efficient cross-border remittance services while avoiding the unnecessary regulatory costs, slow transaction speed and high transaction risks faced by traditional banks in cross-border remittances.
Cross-border remittances are big businesses. The World Bank reported that in 2019, remittances from low- and middle-income developing countries increased by 4.7% to $554 billion, while global remittances increased by 3.8% to $715 billion. The East Asia region alone had nearly US$150 billion in cross-border remittances in 2019. The growth of the global remittance market stems from the growth of global immigration and cross-border migrant workers. Since 2000, the total number of international migrants has increased by 60%, and more than 250 million migrants and migrant workers need to send money back to their families. Cross-border remittances have even become one of the main sources of income for some countries, such as Egypt and the Philippines.
DB3 Bank will use the DB3 tokens as medium to transfer the fiat currency of one country into the fiat currency of another country at the best exchange rate and lowest handling fee. The open purchase order places instructions on the DB3 blockchain, and the blockchain intelligently finds and matches orders from the trading market. After all the varying conditions are met, the entire cycle of transactions occurs simultaneously, and the cycle node is formed by the electronic receipt sent by the receiver to the payer. The fiat currencies remain in each countries, but the needs of the payer and receiver have been met. The needs for cross-border remittance will push up demand for DB3 token, and DB3 token is also the utility currency for the various application scenarios in the digital asset management app.
DB3 Bank looks to integrate all their services such as personal saving, international remittance, currency transactions, financial services etc. into the app to create a complete digital asset management ecosystem. This is in line with the company’s philosophy of providing digital banking facilities for the common people that is no fuss and easy to use aka “Digital Banking at your Fingertips”.
Company Name: DB3 Corporation
Contact Person: Allison lanyork
Email: Send Email
Phone No: +44 (0) 2087983070
Address: 7 charlester street, Winsfield, North London
Country: United Kingdom
Website Url: www.db3bank.com
Source : https://kjnewswire.com/6577/db3-launches-digital-asset-management-app