BABB is the decentralized bank for the microeconomy, providing individuals and businesses with a UK bank account, powered by blockchain technology. Also, the account is managed via a smartphone app and provides access to a decentralised payment card.
In addition, partnerships with central banks allow for the integration and issuance of other digital currencies around the world, further stimulating local micro-economies and expanding the reach of the BABB solution and its underlying BAX token.
BABB is already an FCA Authorized Payment Institution (API) and owns a banking license.
What is BAXX token?
BABB is launching a distributed application platform where FIAT funds are tokenized.
These tokenized funds will be used by the BABB APP Bank, partner services, banks worldwide, as well as central banks in developing countries.
The BAX token is used under the hood to operate the services of the platform across all the geographies and jurisdictions served by the platform.
BAX is implemented on the public Ethereum blockchain as an EIP20/ERC20 token. The Ethereum blockchain is currently the industry standard for issuing custom digital assets and smart contracts, and is compatible with the existing infrastructure of the Ethereum ecosystem, such as development tools, wallets, and exchanges. This active ecosystem and technology make Ethereum a natural fit for BAX.