The Lendo ICO ended just over a week ago and the team continues to make progress with developing Lendo’s product offering. As most of our readers will know, the licencing issues surrounding both crypto currency and conventional banking, have become more and more complex over the last year.
The process has therefore also been slower than anticipated. We are however confident that we can start offering our products and services during the first quarter of 2019. This will include the pre-paid cards and IBAN accounts to many of our customers — not just in Europe — but around the world. This is the first step in our operational road map before launching our crypto loan programmes.
Traditional banks will normally only issue an IBAN account in the client’s country of residence: this is not a regulatory restriction, simply a bank policy. The new wave of ‘neobanks’ are now gaining significant market share, by liberalising these policies and this is exactly what Lendo intends to do. Whilst some jurisdictions may specifically prohibit their citizens from holding bank accounts outside their own country, Lendo aims to offer a high level of global account access to customers wherever local or national laws permit this.
Today’s banking customer is often a highly mobile, frequent traveller and it makes sense to have multi-currency accounts with ‘low or no fees’ when using different currencies. The addition of crypto wallets and loans in one ‘easy to use’ mobile app, will mean that Lendo will be offering an unmatched range of services.
You will be able to sign-up and register for these products and services in the next few weeks, so please follow our social media channels for updates!