Today we are talking with the CEO and co-founder of EQIbank, Jason Blick. Jason has been involved in crypto since 2014 and launched EQIbank in 2015. Jason says a large percentage of their clients are in the crypto and defi space. They serve bank clients in more than 100 countries around the world. They do everything from lending, wealth management, and credit cards to holding treasuries and bonds. Furthermore, they offer banking as a service, where others can partner with us and offer banking services with our licenses to their client base. It’s been a huge area of interest.
A lot of their clients are new users of crypto, and EQIbank gives a lot of sense of security. They provide the client with an option to open a bank account with them, where they can then do OTC transactions for them. Jason says it’s seamless. They can also provide OTC services for clients that don’t hold bank accounts with them. It only takes 15-20 minutes to start buying and selling crypto. Jason says they deal with a lot of hedge funds and work closely with wealth managers. More frequently, they’ve been trying to look at treasury management functions. Jason says 4-6% of a financial portfolio should be in crypto, which is why they’re trying to open the crypto market to corporations.
EQIfi is a licensed and regulated bank that's working in defi. Jason says many experienced bankers know they're not giving the very best service and options to clients because interest rates are dictated by national fiscal policies. That limits how much you can provide clients in terms of ROI. People are seeing that stable goins can get up to 10% interest. This is why in 2018 they decided to be the first bank to go into the defi space, and they did so using EQIfi. It’s an alternative to traditional lending and has been voted number one defi platform 7 times.
Jason says this has the biggest single disruptive opportunity of any financial product. People don’t appreciate how big this is going to be. Jason says the things holding it back are accessibility and interoperability. Many platforms have been launched by very skilled technicians and coders but may not have too much exposure into traditional banking, so there’s a disconnect there. They hope to resolve some of those issues. Jason believes defi will be a major accelerator for the industrial revolution.
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Divi is creating the world's first closed-loop, vertically-integrated cryptocurrency ecosystem. Much like Apple's ecosystem is anchored by iCloud, the Divi Project blockchain serves as the core of the Divi network of technologies. Thanks to a keen understanding of the divide that separates the mainstream from the crypto world, the Divi team is able to create solutions to the industry's biggest problem: adoption by non-technical users. Divi's user-friendly, one-click solutions aim to bring blockchain-based payments into modernity with great UX. In this podcast, we will cover all aspects of cryptocurrency, hot topics, and technology as worldwide adoption grows.