Unbanked

Unbanked operates as a global financial technology firm aiming to bridge the gap between traditional finance and the digital currency landscape. The company was established in 2018 by co-founders Ian Kane and Daniel Gouldman. Initially launched as Ternio, a firm with roots in digital advertising, the founders pivoted based on their conviction that financial access is a fundamental right that can be advanced through blockchain technology. This transition culminated in a significant rebranding in May 2021, when Ternio and its primary product, BlockCard, converged under the Unbanked identity.

The core of Unbanked's business is a platform that connects legacy banking and fintech systems with blockchain infrastructure. This model serves both individual consumers and business-to-business (B2B) clients. For consumers, Unbanked provides a suite of crypto-enabled financial products, including global bank accounts available in over 200 countries, the ability to buy and sell cryptocurrencies like Bitcoin and Ethereum, and debit cards that allow users to spend their digital assets in the real world. These cards are integrated with major payment platforms such as Apple Pay, Google Pay, and Samsung Pay. Customers can also earn cryptocurrency rewards on their card purchases.

The company's business-to-business offering is a significant component of its strategy. Unbanked operates a white-label service, licensing its technology to other Web3 companies that want to offer crypto-powered debit cards and financial services to their own customers. This B2B2C model has attracted notable clients in the crypto space, including Nexo, Litecoin Foundation, and StormX. Revenue generation is primarily driven by sharing in the fees generated from platform usage, which includes transactions from card programs and bank accounts, supplemented by licensing fees from white-label partners.

Keywords: crypto banking, digital currency, blockchain finance, fintech platform, crypto debit card, white-label crypto solutions, financial access, neo-bank, B2B fintech, Daniel Gouldman, Ian Kane, Ternio, BlockCard, crypto-to-fiat, global bank accounts, cryptocurrency spending, crypto rewards, decentralized finance, Web3 financial services, digital asset management