Fideum: 2023 Recap and Upcoming Token Swap
In 2023, Fideum emerged as the unified identity of GenBlock and Blockbank, marking a deliberate and strategic move for the company’s future. This merger synergized GenBlock’s expertise in institutional-grade blockchain solutions with Blockbank’s proficiency in user-friendly retail crypto services. Our vision is clear: to redefine the financial landscape by integrating these two spheres, offering a platform that serves both retail and institutional needs with sophistication and simplicity.
At Fideum, we navigate the fintech space with a commitment to our users. We believe in creating solutions that resonate with their needs and aspirations. Our focus is to break down the barriers of complexity in blockchain and finance, delivering services that are not just technologically advanced but also intuitively usable. Our mission is to make the combination of fintech and blockchain accessible, secure, and efficient for everyone, whether they are individual investors or large institutions.
To work towards becoming the premier solution for institutions and retail users alike, we’ve undertaken several key initiatives:
- Broadening Horizons: We’ve expanded our user base to over 75,000 people, 40 institutional partners, and 120 different countries.
- Product clarity: At Fideum, we’ve strategically identified the most promising and essential solutions needed in today’s market for both B2B, B2C, and B2B2C sectors. Our commercial offerings are not just diverse; they’re meticulously crafted to address the specific needs of our clients in the evolving digital finance landscape.
- Triumph at the Mastercard Lighthouse FINITIV Program: Our success at the Mastercard program does more than add a feather to our cap; it propels us into strategic collaborations and opportunities.
- Unifying our Brand: This is more than just a change in name or logo; it’s about unifying our diverse services and community under the singular, powerful identity of Fideum.
- Initiated our Series A: We’re aiming to utilize the capital to drive our global outreach, deepen our market presence, and push the envelope in fintech innovation.
We’re eager to bring our users, both retail and institutional, closer to the Fideum ethos – one that embodies trust, innovation, and inclusivity. The future for Fideum is about growth, not just in scale but in the depth of our relationships with our clients and partners.
The Impact of Victory
Our success at the Mastercard program does more than add a feather to our cap; it propels us into strategic collaborations and opportunities:
- Deepened Ties with Mastercard: This partnership unlocks new technological frontiers, enhancing our platform and offerings.
- Alliances with Nordic Banking Giants: Collaborations with leading banks like SEB and Danske Bank pave the way for broader market influence and innovative financial solutions.
- Engagement with AWS: Leveraging AWS’s technological prowess fortifies our infrastructure, driving us towards cutting-edge service delivery.
- Expanding Investor Networks: Recognition at this scale opens doors to investment opportunities, crucial for our growth and expansion.
Platform Highlights: The Fideum Advantage
A Robust Suite of Crypto Trading and Banking Tools for Retail Users
At Fideum, we envision a world where digital assets are accessible and intuitive for everyone. We believe in empowering individuals to confidently engage with and profit from the digital asset universe. Our B2C platform embodies this vision by democratizing access to the world of crypto, breaking down barriers, and simplifying complexities. Our B2C platform can also be leveraged for:
- Personal Investment and Portfolio Management
- Peer-to-Peer Payments and Money Transfers
- Secure Digital Wallets and Storage Solutions
- Educational Resources and Crypto Onboarding
- Loyalty Programs and Crypto Rewards Systems
Turn-key, Regulatory Compliant Blockchain Infrastructure for Modern Financial Institutions
At Fideum, we tailor our B2B services to meet the unique needs of modern enterprises looking to navigate and thrive within the digital market landscape. Our comprehensive offerings, including OTC services, banking and remittance solutions, end-to-end staking, and in-depth research, are designed with the precision required for business excellence. Our offerings can also be applied to:
- Risk Management & Compliance Solutions
- Asset Management and Investment Platforms
- Payment Processing and Cross-Border Transfers
- Real-Time Analytics and Reporting Tools
Utilizing our Microservice Architecture, We Have the Flexibility and Modularity to Incorporate Any Desired Service Within the Industry into Our Back-End Infrastructure.
Fideum’s B2B2C solutions bridge the gap between businesses and the end-users, delivering a suite of services that cater to evolving market demands. Our commercial offerings are not just diverse; they’re meticulously crafted to address the specific needs of our clients in the evolving digital finance landscape. From turn-key customized solutions to innovative payment rails and white-label APIs, we’re equipped to empower institutions and businesses to thrive in the digital era.
The Big Leap: Series A and Beyond
As we gear up for our Series A funding round, our focus is razor-sharp. This isn’t merely about funding; it’s about catalyzing our vision of integrating blockchain into mainstream finance. We’re not just aiming to be a part of the fintech evolution; we’re striving to lead it, educating the market and demystifying digital assets for the masses.
BBANK to FID Token Swap: A Strategic Leap for Fideum
Today, we at Fideum are excited to announce a significant development in our journey: the transition from BBANK to FI tokens. This token swap is a key part of our strategy to enhance our platform’s capabilities and align with our vision of serving a growing global user base.
Overview of the Token Swap
The primary aim of this swap is to transition from the circulating 400 million BBANK tokens to 4 billion FI tokens. This increase in the number of tokens is designed to cater to the expanding needs of Fideum Group, allowing us to accommodate millions of users. Importantly, we ensure that the total percentage ownership for existing token holders remains unchanged, offering a straightforward 10:1 swap without introducing new tokens or diluting current holdings.
Addressing Key Issues with the Swap With the BBANK to FI token swap, we’re not just changing names; we’re addressing several critical issues to improve our platform:
- Enhanced Trading Transparency: Transitioning trading operations to decentralized exchanges addresses OTC trading concerns, fostering a more transparent and trustworthy environment.
- Fresh Trading Chart: The reset of BBANK’s trading history, aligning with our new brand Fideum, brings a fresh start and renewed confidence among our investors.
- Arbitrage Solution: By addressing withdrawal policy limitations on platforms like Gate.io, we’re enhancing the trading experience, making it more seamless and efficient for our users.
- Unified Brand Identity: This swap is a part of our broader initiative to streamline our brand, eliminating the ‘Bank’ component to simplify our market presence under the single identity of Fideum.
Token Distribution and Listing Strategy
FI will launch as a multi-chain asset on both the Ethereum (ERC) and BNB (BEP) networks, emphasizing our dedication to accessibility and versatility. Initially, FI will be listed on decentralized exchanges at the same fully diluted market cap as BBANK. Our strategy includes plans for listing on Tier 1 exchanges after building sufficient operational capital.
Swap Mechanics for a Smooth Transition
Post-announcement, we’re providing users a 48-hour window to complete withdrawals. Following this, there will be a 48-hour pause to facilitate the swap. Users can choose to manage conversions within our app for convenience or use a smart contract provided by Fideum for swaps at the set ratios. This smart contract also functions as a bridge between BSC and ETH/ARB. For those with BBANK tokens staked in the app, these will automatically convert to FI tokens, with all staking terms remaining intact.
Swap Ratios and Timeline In the first month following the swap, each BBANK token can be exchanged for 10 FI tokens. From the second to the sixth month, the ratio changes to 1 BBANK token for 6 FI tokens. After six months, the swap functionality will be disabled.
This token swap is a crucial step in aligning Fideum’s infrastructure with our future goals and commitment to our community. It ensures that as we grow and evolve, the interests and trust of our users remain our top priority.
What’s Next for Fideum Following the Token Swap?
After the BBANK to FI token swap on December 18th, Fideum is gearing up for significant advancements in the fintech space. The completion of our rebranding process in the near future, marks the start of a new chapter for Fideum, uniting our services and community under one identity. We’re excited to deepen our relationships with clients and partners, growing not just in scale but also in the impact and depth of our collaborations.
DISCLAIMER: This article is for informational purposes only and is not intended as financial advice.
Author: The blockbank team
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