The SORA Community Launches SORA Card, The First Neobank Solution with DEX and Self-Custodial Wallet Integration
SORA is a new economic system for the world aimed at recreating the Japanese post-war miracle economy aimed at high growth.
London, UK, May 10, 2023 (GLOBE NEWSWIRE) — The SORA Community is excited to announce the launch of SORA Card, a new neobank solution featuring an International Bank Account Number (IBAN) and a Mastercard-powered debit card that integrates the decentralized exchange (DEX) Polkaswap and the SORA Wallet self-custodial crypto wallet.
SORA Card sign-ups are now live, with virtual and physical cards, and IBAN available in a couple of weeks.
The SORA Card aims to offer a complete neobanking experience with known features such as SEPA transfers, Mastercard debit card, foreign exchange, and more, along with unique and innovative self-custody over crypto assets and decentralized exchange features.
Users can also trade, stake, farm, invest, mint NFTs, and much more on the same web and mobile applications. Polkaswap also provides expansive interoperability through bridges to multiple EVM chains and Substrate chains*, which in turn are seamlessly bridged into the traditional financial world. (*under development)
There are three channels to apply for a SORA Card: on the Polkaswap.io dApp, on the SORA Card website, and through the SORA Wallet mobile app available on Google Play and the Apple App Store. There are three options to apply for a SORA Card, each with different fees:
- If you already have more than €100 worth of XOR in your account, the application with your SORA address is free.
- If you want to purchase XOR to have the €100 balance for a free account, you can buy XOR worth up to €700 within the app with only soft KYC required.
- If you do not have €100 worth of XOR and do not want to purchase it, there will be a fee of €20 to apply for KYC and the SORA Card. This payment can be made with any debit/credit card*.
The first 5000 applicants will not pay yearly nor monthly fees for the first two years, only incurring in fees according to their account usage. This is only available to SORA community members, and therefore, pre-launch sign-ups are only open to this group. The KYC-approved applicant 5001 and onwards will be asked to finance an annual flat rate that covers all monthly and annual fees linked to the account and card.
SORA Card is a decentralized and non-custodial solution that does not access user data or crypto assets, meaning that SORA does not make money by selling or exploiting user information. Instead, usage fees are charged to cover the costs of banking and card service partners who handle financial transactions. Usage fees provide a financially sustainable way for SORA to provide its services without compromising user privacy and security.
In Phase 2, which will launch in a couple of weeks, users can expect a virtual and physical Mastercard-powered debit card ready to use and in hand, a European IBAN, account top-ups using XOR, SEPA, or any credit/debit card preferred, and a fiat wallet with integrated SEPA and SWIFT payment functionality. Additionally, Phase 2 will feature a referral program that rewards users for sharing the road to freedom with their friends and family. Next to this, SORA Card will be also available in Fearless Wallet, the DeFi wallet for the interoperable future.
SORA Card is a product of the SORA Community and SORA Biome, in collaboration with leading fintech and blockchain companies. The SORA community has been working tirelessly to bring a new level of financial freedom to individuals, and soon to businesses.
The launch of SORA Card marks an important milestone in the development of the SORA ecosystem, and the community is excited to witness the impact it will have on the broader cryptocurrency and fintech landscape.
Speaking about the launch, one of the main contributors said;
“We are excited to launch SORA Card and provide a neobank solution that integrates a DEX and self-custodial crypto wallet. This is a major step forward in our mission to create a new economic system for the world that is aimed at high growth and financial freedom for all.”
To sign up for a SORA Card, visit the SORA Card website or download the SORA Wallet mobile app.
About SORA
SORA is a new economic system for the world aimed at recreating the Japanese post-war miracle economy aimed at high growth. The SORA network links to other networks in the Polkadot and Kusama ecosystems, with the capability to bridge assets to external blockchains such as Ethereum. Polkaswap, a non-custodial liquidity aggregating, cross-chain AMM DEX designed uniquely for the Polkadot ecosystem with boundless liquidity through its one-of-a-kind Aggregate Liquidity Technology (ALT), is one of the DeFi applications on the SORA network.
About Polkaswap
Polkaswap is a noncustodial liquidity aggregating, cross-chain AMM DEX designed uniquely for the Polkadot ecosystem with boundless liquidity through its one-of-a-kind Aggregate Liquidity Technology (ALT). Polkaswap’s vision is to provide the most efficient, transparent, and user-friendly trading experience in the Polkadot ecosystem.
About Fearless Wallet
Fearless Wallet is a bespoke mobile wallet and browser extension designed for the decentralized future of DeFi on the Polkadot and Kusama ecosystems, with native support for iOS and Android mobile platforms, and browser extension availability for Chromium-based browsers. Fearless Wallet features a premium user experience, fast performance, and secure storage for your accounts. Fearless Wallet integrates Polkaswap for easy, decentralized swaps of assets.
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SORA
Beno Van Gansen
partners@soracard.com
Disclaimer:
This announcement is not directed at any investors or potential investors, and does not constitute an offer to sell — or a solicitation of an offer to buy — any securities, and may not be used or relied upon in evaluating the merits of any investment. Any projections, estimates, forecasts, targets, prospects and/or opinions expressed in this release are subject to change without notice. The contents in here should not be construed as or relied upon in any manner as investment, legal, tax, or other advice.
