SaveChain, a fintech startup, is closer to launching its Web3 bank accounts after being accepted into Plug n Play’s prestigious Digital Assets Accelerator. Using blockchain technology, the platform offers secure and transparent banking services that are faster, cheaper, and more accessible than its competitors.
SaveChain’s presentation was voted as one of the best by 30+ Plug n Play’s corporate partners. Financial institutions, such as Visa, Charles Schwab, Wells Fargo, Sumitomo attended the Digital Asset Selection Day at Plug n Play HQ in Sunnyvale, California.
As the blockchain, crypto, and Web3 markets continue to grow, SaveChain’s platform is a game-changer for the banking industry, providing secure and transparent transactions that are free from any government or institutional control. According to a recent report by MarketsandMarkets, the global blockchain market is expected to grow from $3.0 billion in 2020 to $39.7 billion by 2025, at a CAGR of 67.3% during the forecast period. The demand for digital banking is also expected to grow over 30% annually, and traditional banks must embrace innovation to stay competitive.
SaveChain’s platform will provide a broader range of financial services, including savings accounts, loans, and investment opportunities, all within a decentralized environment. SaveChain’s platform also gives users complete control over their funds, enabling faster and cheaper banking services without intermediaries.
With its acceptance into the new cohort at Plug and Play, they validate their investment thesis, and get closer to revenue and potential proof of concept or licensing deals with banks.
“SaveChain’s non-custodial architecture supports a new type of banking. Users have segregated accounts and are in full control of their funds. This makes their funds safe and helps to avoid problems that happen to Centralized Finance institutions. Recent examples are crypto companies like FTX, Celsius and banks like SVB, Silvergate, and Signature. We are excited about the opportunity to make Proof of Concepts and Pilots with the leading banks that we meet in Plug n Play,” said SaveChain’s CEO, Igor Khmel.
SaveChain is already gaining attention from traditional banks and financial institutions, actively seeking partnerships to expand its services and reach a broader audience.
About Plug and Play
Plug and Play Tech Center is early stage investor, accelerator and corporate innovation platform with global headquarters in Sunnyvale, California in the Silicon Valley. Plug and Play runs two programs per year in each industry and location and has 300 corporate partners and 200 venture capitalists in its ecosystem. Plug and Play connects the best technology startups and the world’s largest corporations. https://www.plugandplaytechcenter.com
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