Connect Financial is an ecosystem of financial products that allows users to use fiat and their digital assets to borrow, save, trade & earn within a single platform. The Connect Financial white paper outlines this ecosystem and expands on the key concepts that make up the platform.
This white paper will be a key resource for anyone looking to understand the product suite in more detail. Over five sections it covers:
- Product overview
- CNFI tokens
- Products and services
- Decentralized finance (DeFi) components
- The company
For users that are new to Connect Financial, a brief summary of the problems we are aiming to solve for our users is included below.
A changing tide
In the last few years, crypto, blockchain technology and DeFi have issued in a new era of financial innovation decoupled from the traditional banking system.
While crypto-natives have been at the vanguard of this transition for some time, 2021 has seen a new contingent of traditionally conservative investors enter the market and building positions in crypto as an alternative asset class.
Bitcoin and Ethereum, the two largest crypto projects, have hit the primetime and are now well on their way towards becoming mainstream.
The hurdles to clear
Despite increasing adoption, crypto has significant obstacles to overcome.
- The entire industry is fragmented, confusing and has a steep learning curve
- Despite early promise from several projects, crypto is still years away from being a viable payment option for day-to-day purchases
- For better or for worse, the world still runs on fiat currency. This leaves the primary use case for most crypto as a speculative asset class, with relatively few options for users to move between fiat and crypto depending on their needs
While some projects have made efforts to allow users to make small daily transactions with crypto, the current offerings are restrictive and have a range of issues. For example, some pre-loaded crypto cards allow users to sell coins at the point of purchase. While this is a step in the right direction, these debit-type cards are not accepted in all locations and require users to sell the underlying asset.
Connect Financial is rethinking banking.
Connect Financial is a complete ecosystem of financial products that aims to solve several key painpoints for its users, most notably:
- A true crypto-backed credit card on an elite network where users access a line of credit by adding collateral to a linked wallet
- The ability to earn passive interest and staking rewards without the need for significant capital or technical know-how
- The tools needed to move between crypto and fiat seamlessly within a range of wallets designed to help you spend, earn, stake transact and store.
- On ramp into crypto from cash and then buy, sell and trade crypto within the platform
Connect Financial is positioned to bridge the gap between crypto, fiat and DeFi with a range of innovative financial products.