Radix Portals are designed to allow developers to easily build financial functions into their applications, providing three significant API driven benefits:
Onboard customer funds with less financial and compliance complexity.
Hold funds or make payments to customers in multiple countries and multiple jurisdictions – all without the need of merchant bank services.
Use the regulatory and licensing wrapper of the Portals (incl. AML/KYC, money transmitter, etc) rather than needing to acquire the licenses as a developer/company.
Bridge public and private universes together with Portals - allowing flexible privacy, as well as interconnected clearance and settlement.
Multi-currency, multi-application, multi-jurisdiction, programmable money. Move value between users or even between applications in a frictionless manner.
Once funds are converted into Fiat Tokens, the full power, efficiency and security of the Radix network is available to be harnessed. Complex financial transactions are simple to conduct securely and reliably.
Businesses and users can conduct business in local currency without needing a merchant bank account in that jurisdiction, instead using the Portal network to handle its own local on and off ramps.
An application can directly conduct and manage real financial transactions through convenient Radix APIs rather than unwieldy (or non-existent) bank APIs.
Provide a friction-free method for funds to move between applications or to/from individuals, globally and instantly.
All Fiat Tokens are “native” to the Radix Universe, creating a universal fiat currency payments layer. Transactions take 5 seconds or less and money can be sent anywhere in the world. Portals insure that Fiat Tokens are always redeemable for everyday fiat currency.
Bypass slow, costly, and difficult-to-use financial intermediaries normally required to enable financial transactions between banks.
By using a Portal, a business may eliminate the direct need for banks or other financial services that put many financial applications out of the reach and budget of a startup or small/medium size enterprise. We call this “Accessible Fintech” as a catch-all term for lowering of barriers and costs to entry.