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What is Agora Bank, the crypto bank for the people 🏣

Have you ever heard of the AgoraBank project? It is the future French bank specialized in cryptocurrency transactions. Based on the observation that there is a cruel lack of services accepting crypto-currencies in the French banking sector, Agora is the banking revolution so long awaited by users of digital assets of all kinds.

Agora Bank Logo wants to fracture the market by offering the first decentralised banking service directly owned by the users themselves!

A simple application allowing interoperability between traditional financial flows and the new tokens of decentralised finance. Agora therefore wishes to bring together institutional rigour with the advantages of DeFi (Decentalized Finance) to the delight of crypto aficionados but also of traditional financial users, as they will now be able to do without bankers and therefore fees.


A bank validated by finance 🏦

Here are the most common features of decentralised finance finally available on a service with professional accreditations. The founders of AgoraBank are familiar with the financial world as they have more than 10 years of experience in banking, investment funds, brokerage and asset management.

A major competitive advantage in this sector where many crypto-banks are born today with only an e-money license. Whereas Agora Bank holds a real banking licence.

Beyond the security aspect for users, a banking license allows to offer the services of a traditional bank such as the purchase and management of digital assets. These functionalities are coupled with services on crypto-assets, mainly stemming from Decentralised Finance (DeFi) these services are automatic and their operation is guaranteed by protocols on blockchain.

It is therefore a true hybrid between centralized finance (CeFi) and decentralized finance (DeFi), which promises to facilitate access to financial products still reserved for the moment to the most fortunate or only accessible on obscure protocols of DeFi.

AgoraBank's banking services on the CeFi side 🏦

On AgoraBank you will find the services of a traditional bank, or rather of a neo-bank. Namely, more spontaneous payment services such as activating and deactivating your bank card or changing your secret code directly from your application.

Above all, you can count on :

  • A free VISA card (allowing payment in crypto anywhere in the world)

  • An interoperable wallet (allowing the sending and receiving of crypto-assets)

  • Automatic cashback (get part of your payments back)

  • Analysis on the use of your funds (graphs and spending history)

No real innovation here, but a service that is already more qualitative than some traditional banks where these functions are non-existent or chargeable.

It is essential to remember that all the services offered by AgoraBank are accessible entirely free of charge to users. This is already a real revolution for this sector where savers recover all their rights on their assets.

AgoraBank's crypto services on the DeFi side 🏣

Let's now turn to the topic of the benefits of a crypto-bank like Agora on digital cryptocurrency assets. This list is not exhaustive and many new features are still in development.

Swaping 🔀

First, Agora Bank will offer its users a "Swap" service on its "Wallet". This means that you will be able to exchange crypto-assets instantly within your asset portfolio. This is the same role of a marketplace also called "Exchange" you exchange currencies for others with the most advantageous rate, and this, immediately.

Swap sur PancakeSwap
Swap sur PancakeSwap

Lending 📊

The loans part allows users to come and deposit money directly on AgoraBank. The objective here is to make users' savings grow with indecent returns. It's no longer a surprise to you that the blockchain can easily generate double-digit annual returns. You will get a 10% return on the euro and the tokenised dollar, i.e. the USDC and the EURS, enough to generate annual interest without any risk of volatility.

Borrowing 📥

This is the borrowing part. This part usually goes hand in hand with loans. While users deposit savings, also called "collateral", other users can borrow money. This is similar to the traditional credit mechanism, but without the exorbitant interest rates and it allows the lenders' money to grow.


What to remember about AgoraBank 💡

Agora Bank has succeeded in bringing together the Old and New Financial Worlds in a structure that is totally legal and controlled and at the same time open to new technological advances, such as blockchain's smart contracts.

Agora is a bank that belongs to its users and we will see how in the next article and by what mechanism this is possible. We will also see how the governance body (DAO) will be launched and how to take part in the project with participatory financing (ICO)


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