Floki tokens to back new digital banking accounts with debit card services

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22nd March 2024 – (New York) Floki, a cryptocurrency known for its meme coin origins, is taking a significant leap into the world of digital banking. Developers behind the dog-inspired token are constructing regulatory-compliant digital banking accounts that users can fund with FLOKI tokens. These accounts will enable transactions in major fiat currencies such as the US dollar (USD), euro (EUR), and British pound (GBP).

These innovative financial accounts are set to be launched in partnership with a fintech entity, holding licenses across multiple jurisdictions including Canada, Spain, Dominica, Australia, and the UAE. This move signals a strategic expansion of Floki’s utility, transcending its meme coin image to become a more serious financial tool in the crypto ecosystem.

The comprehensive financial package will also feature debit cards and staking services, further integrating Floki into everyday commerce. The initiative is expected to bridge the gap between traditional banking and the burgeoning world of cryptocurrency, offering users the ability to make global transactions and money transfers via the SWIFT network and SEPA IBANs.

The debit card, compatible with both Visa and Mastercard payment networks, is being developed in collaboration with a Swiss company under the regulatory purview of the Swiss Financial Market Supervisory Authority (FINMA).

Despite the ambitious project, FLOKI tokens have experienced a downturn, falling 6.7% in the past 24 hours, outpacing the broader market’s decline of 3.5%.