One of the first strategic alliance UCI is working on in a branches, global digital bank. An application for an international banking license in Puerto Rico has been submitted. An International Financial Entities (IFE) licensed in Puerto Rico under Act 273 is one of the most powerful international banking and financial services structures available. This International Financial Entities bank license in Puerto Rico can offer all manner of international banking, multicurrency exchange, brokerage, investment management, and financial services globally. Additionally, Puerto Rico is an ideal location due to its efforts to support the crypto industry, an unparallel economic incentive, tax exemptions and tax credits package for investors and as part of US, PR provides worldwide credibility and trust for investors and users.
The transactional digital financial and commerce ecosystem offered by UCI and its strategic partners will allow for fiat and crypto deposits, access to multicurrency exchange capabilities, debit & credit cards, money transfer, etc. In essence, bringing life to everyday crypto currencies transactions on a global scope. While UCI’s intentions are to turn the financial industry on its head for the better, being cautious with compliance and adhering to the regulatory environments of the U.S. and elsewhere is imperative for success. Consequently, all users, including Ucoin holders, must go through an on-boarding process and pass AML/KYC compliance.
All of that being said, Ucoin global digital financial and ecommerce ecosystem will be extraordinary. The bread and butter of financial services much of the world has never had access to or have been able to afford will be available. The digital technology platform of the branchless bank will be provided by Technisys, a leading provider of banking technology. Together, the banking platform will prioritize affordability and accessibility, security, compliance, and reliability; and poised to help user in the smartest mix of revolutionary and familiar applications and daily transaction. Remarkably, users will be able to move between fiat and cryptocurrency interchangeably and harmoniously. Notably, UCI’s differentiator lies in its hybrid approach to marrying cryptocurrency’s benefits with traditional banking services, because, while the definition of value is certainly changing over time, the platform must be backed by agreeably valuable resources. Access to Your Money Anytime, Anywhere, in the hallmark of the mission.