PDX Coin has announced it is developing a new global digital banking platform for the crypto-economy that will offer widespread retail crypto-to-fiat payment capability.
The bank-friendly payment platform seeks to deliver ‘a modern alternative’ to the traditional banking payments system that has hit merchants with high fees, long float times and fraud risk.
Shane Rodgers, CEO, PDX Coin and its Singapore-based parent, PDX Global Pte commented: “We are not 20-somethings in hoodies coding in back rooms. We are a highly experienced group of financial executives intent on establishing a well-financed crypto-to-fiat payments and digital banking platform where digital tokens are also partly backed by physical assets.
“It is time to finally use cryptocurrency and the blockchain to disrupt the old global banking establishment and offer an entirely new global banking capability that’s fully inclusive and open to all.
“As we move forward, we have hope that the U.S. government especially will provide a regulatory infrastructure to rein in the ‘wild west’ and encourage sustained growth so that platforms like ours can manage seamless and frictionless, secure, low-cost transactions,”
PDX Coin is currently offering the first pre-sale of its native currency token through the P2PB2B.io cryptocurrency exchange.
For retail users, PDX will offer a primary crypto and blockchain-based wallet to invest, store, spend, earn, lend, borrow, and be paid in crypto assets. In contrast to PDX, most other crypto-based payment efforts are crypto wallets that rely on legacy financial infrastructure.
While the current system squeezes store owners with exorbitant fees from multiple banks and other middlemen, PDX Coin is a nearly instant peer-to-peer (P2P) network with no fees going to middlemen. Merchants will also benefit from the addition of instant money transfers in their preferred fiat currency, with no float times.