Finance

Floki Inu roadmap reveals plans for regulated bank accounts

The development team behind the dog-themed memecoin Floki Inu has unveiled its roadmap for 2024, revealing several upcoming features and utility-focused initiatives. This includes regulated digital banking accounts, enabling users to create and fund bank accounts using FLOKI tokens. 

The roadmap also mentions an integration with the Venus decentralized finance (DeFi) protocol, the Floki debit card’s introduction, and the Valhalla mainnet’s upcoming release.

Teaming up with an undisclosed licensed fintech firm operating across strategic locations like Canada, Spain, Dominica, Australia, and the UAE, these digital banking accounts will facilitate SWIFT payments and Single Euro Payments Area International Bank Account Numbers (SEPA IBANs).

Source: Floki Inu

In addition, the forthcoming introduction of Floki Debit Cards will enable individuals to connect their digital bank accounts with debit cards, offering a convenient and secure method to use their FLOKI tokens for transactions in traditional currencies like euro (EUR) and U.S. dollars (USD).

According to the proposal, the initiative aims to extend traditional banking services to a wider user base by allowing them to utilize their FLOKI tokens, thereby enhancing cryptocurrency utility and adoption.

Subject to governance ratification, Floki Inu intends to list its native token, FLOKI, on the Venus Core Pool. This endeavor is designed to enhance liquidity, akin to established cryptocurrencies, enabling FLOKI holders to leverage their tokens as collateral for borrowing various assets like Maker (DAI), Circle’s USDC stablecoin, BNB (BNB), and Ether (ETH).

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Through the direct integration of Venus Markets into Floki’s user interface (UI), the protocol ensures seamless access to the platform’s liquidity, effectively embedding Floki deeper into the decentralized finance ecosystem.

Floki Inu intends to launch a cross-chain trading bot on Telegram and Discord, driven by the FLOKI token. It enables users to trade cryptocurrencies across significant blockchain networks. Notably, half of the generated fees will be utilized to buy and burn FLOKI tokens, enhancing their functionality and supporting a deflationary approach.

Lastly, the awaited launch of Valhalla, Floki Inu’s primary utility and metaverse game, will take place on the mainnet. Valhalla on the mainnet will include on-chain gaming features, a PlayToEarn system, customizable NFTs, and an expansive open-world environment.

In January, the Hong Kong Securities and Futures Commission (SFC) cautioned the public about the “Floki Staking Program” and “TokenFi Staking Program.” The SFC noted that these products provide staking services, promising annualized returns from 30% to over 100%. Despite this, they lack authorization for public sale in Hong Kong.

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