FDIC Insured, Crypto Friendly Banking Is Live on Ternio’s BlockCard!
As of this week, BlockCard bank accounts are live! This highly anticipated release is the latest in a lineup of crypto friendly banking features that Ternio is known for. Currently available to US customers, the account is free to open and functions like any traditional checking account, allowing ACH or Wire transfers deposits and withdrawals, but will also be enabled to purchase and sell cryptocurrency like Bitcoin and have it delivered directly into any crypto wallet.
“Adding a checking account was a natural addition to our mission here at Ternio. That is, the development of a fintech platform that acts as an easy on ramp for mainstream adoption of crypto and blockchain applications. The checking account creates an opportunity for new users to explore cryptocurrency while supporting current BlockCard holders with an additional feature that will bring them another step close to true crypto friendly banking.” – Ian Kane, Co-Founder and COO.
The bank account integrates seamlessly with the BlockCard debit card, allowing users to deposit crypto onto their BlockCard immediately from their bank account. Current BlockCard users will notice that their online dashboard will now show the bank account feature ready to activate with a single click. From there, users will be able to make deposits, withdrawals, buy and sell cryptocurrencies, as well as use those digital assets to make purchases with their BlockCard. The BlockCard platform will ultimately become a place for comprehensive crypto friendly banking.
Ternio’s white label partners can expect to be offered the same crypto-friendly banking features that BlockCard demonstrates. The functionality of the bank account integrates into all of Ternio’s white label products. The bank account is a perfect companion to Ternio’s suite of services designed to help companies build and scale financial products. Working with Evolve Bank & Trust provided the right connection to traditional banking, consistent with Ternio’s mission to empower companies to be their own bank.
“Evolve Bank & Trust was thrilled to partner with Ternio on this initiative to help bring compliant and regulated financial services to the crypto community. Having seen the suite of tools Ternio has built, made it an easy decision to work with them as they bring cryptocurrency mainstream. BlockCard is one of the most unique crypto solutions we have seen in the market and offering FDIC Insured checking accounts through Evolve was the perfect complement” – Hank Word, Senior Vice President & Chief Technology Officer, Evolve Bank & Trust.
In addition to these features, the accounts are FDIC insured, adding another level of security to the established platform. Once their accounts are funded, users will quickly notice the benefit of a blockchain based bank account, most notably immediate and secure transactions without fees. While US residents are currently able to sign up for bank accounts, an international friendly option will be released in the near future.