Author: MNI Alive | Date: 14 October 2019
Aximetria, a fintech company that offers a crypto-centric mobile finance app for exchange, remittances and passive investments, announces the transition from a low fee to a zero-fee environment for all its services within the app. Aximetria helps to overcome the economic restrictions operating in different countries to make people better off. The two main restrictions are the cost of financial services, which is way too high for many people, and currency restrictions. People are forced to overpay for financial services or use outdated technologies, on which these banking systems are based.
Cryptocurrency, as a technology, allows you to finally overcome many of the limitations. However, new limitations have since been imposed by financial institutions and exchanges that earn 5-7% on cryptocurrencies, including the cost of acquiring and payment systems. Many of these organisations increase the exchange rate or add hidden fees, all of which also stands in the way of cryptocurrency mass adoption. Then, there are governments and corporations in many countries of the world that create and lobby for even more artificial financial restrictions. Such restrictions mostly affect people who do not have large incomes, because they are driven to choose financial services based on their current cost, rather than the reliability and capabilities that they will receive by learning to work with new technologies.
Alexey Ermakov, founding CEO at Aximetria explains: “Many people talk about mass adoption of cryptocurrencies. To achieve this, regulation was created, as were stablecoins, along with other important steps that took place in making this happen -- and Aximetria adopted these policies, too. However, the main factor limiting mass adoption is still the cost of the service, making cryptocurrency too expensive to compete with neobanks like Revolut or N26, in cases when it comes to daily use by people around the world. We conducted a study among users that showed interest in crypto, but who never made a single transaction. It turned out that if they were offered to make transactions for free, the number of users who would then complete transactions would grow by almost 300% in contrast to wealthier customers who could already afford existing commissions. Now that option is finally available, removing a key barrier and opening up the convenience and reliability of cryptocurrency transactions to anyone.”
The key points of the upgraded Aximetria offering are as follows:
● Zero-fee environment, i.e. no commission on exchange, remittances and savings;
● Native crypto, with full control over the funds and access to private keys (no ETF, indexes or other instruments);
● Works with all banking cards - top up and withdraw funds to any bank card worldwide;
● Swiss regulation license.
In order for the zero-fee system to survive and evolve, it is important that assets can be spent within the service. Aximetria is continuously working on developing functions in this direction and already launched, for example, AxiDrop - the remittance service to anyone in the world just by knowing a phone number, and the Aximetria Marketplace, where users can spend their crypto on goods and mass consumption services. In the near future, Aximetria will launch a P2P cash in/out service for regions where most people don't have bank accounts and cards. It will provide people in these regions with an option to top-up and withdraw crypto funds by engaging with a network of Aximetria agents.
The company’s mission is to teach 100 million users around the world how to use cryptocurrency in their daily lives, for the benefit of themselves and their families, and we are well on the way to making this -- and greater financial freedom for our customers -- a reality. Aximetria creates the best experience of using cryptocurrency as a technology and strives to make the financial system more open, transparent and effective for everyone.