Fiat24 is a Swiss fintech platform that integrates traditional banking services with blockchain technology. It offers users decentralized access to payments and account management. Built on Arbitrum, it operates under Swiss regulatory oversight and utilizes NFTs as unique identifiers for account access. ^[1]

Overview

Fiat24 is a global payment platform operated by SR Saphirstein AG, a Swiss fintech company regulated by FINMA. Using the Arbitrum Layer 2 network, Fiat24 provides blockchain-based payment services, allowing users to instantly transfer money and convert funds via any browser or crypto wallet. The platform offers debit card services for Swiss and EEA clients, enabling global transactions, and provides each user with a novel NFT identity linked to a Swiss IBAN for traditional banking services. Fiat24 integrates with Swiss and European banking systems for broader financial connectivity, including SEPA and SWIFT. ^[2]

Products

Digital Identity

To become a Fiat24 client, users must hold a "Fiat24" NFT in their Arbitrum wallet, which acts as their account number and login credential. These NFTs serve as a unique digital identifier, linking users' identity to their Fiat24 account. Fiat24, as a Swiss-licensed fintech, ensures that client identity and risk data are verified and securely stored without exposure to the blockchain. Additionally, Fiat24 NFTs can be utilized by third-party Web3 applications, providing a privacy-preserving method of verifying user status. ^[3][4]

Swiss IBAN

Swiss IBANs at Fiat24 are tied to users' NFT IDs, providing a novel and consistent transaction account number. An IBAN (International Bank Account Number) helps banks identify individual accounts, facilitating secure transfers within Switzerland and internationally. By linking a Swiss IBAN to a Fiat24 NFT, users can manage crypto and fiat funds, easily off-ramp assets, and conduct transactions as they would with a traditional bank account, seamlessly integrating digital and fiat currencies. The IBAN can pay bills, receive salaries, and transfer Euros or Swiss Francs. ^[3]

Fiat24 Debit Card

The Fiat24 Card is a Visa debit card that allows users to spend cryptocurrency by connecting their wallet to the Fiat24 decentralized app (dApp). The dApp facilitates instant crypto conversion to fiat, enabling real-world transactions online and in stores. The platform integrates with wallets like MetaMask, making it easy to top up accounts using tokens such as ETH or ARB and spend via Apple Pay or Google Pay. Designed for users who prefer control over their private keys, the Fiat24 Card bridges the gap between decentralized finance and real-world payments. It works on Android and Apple devices, ensuring secure, contactless transactions. Users can maintain control of their assets, converting crypto to fiat only when necessary. ^[5][6]

F24

F24 is the native token of Fiat 24. F24 tokens are burned during user account creation or when purchasing premium NFTs. Wallet providers also burn F24 tokens to mint standard NFTs for their clients. The F24 token underpins access to Fiat24's services, with all consumed tokens burned to maintain its utility. ^[7][8]

F24 had the following allocation: ^[7][8]

• Early Adopters and Community: 50%
• Treasury: 30%
• Team: 20%

Partnerships

• USDV
• SafePal
• THORWallet
• Halo Wallet
• ONTO