# Fiat24 > Fiat24 is a Swiss fintech platform integrating traditional banking with blockchain, offering decentralized payment services and using NFTs for digital identity ... - Canonical URL: https://iq.wiki/wiki/fiat24 - Categories: Projects & Protocols - Tags: DeFi - Created: 2024-09-18T23:36:29.688Z - Last updated: 2024-09-18T23:36:29.688Z - Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki) --- **Fiat24** is a Swiss fintech platform that integrates traditional banking services with [blockchain](https://iq.wiki/wiki/blockchain) technology. It offers users decentralized access to payments and account management. Built on [Arbitrum](https://iq.wiki/wiki/arbitrum), it operates under Swiss regulatory oversight and utilizes [NFTs](https://iq.wiki/wiki/non-fungible-token-nft) as unique identifiers for account access. [\[1\]](#cite-id-qvqujvkclhq) # Overview Fiat24 is a global payment platform operated by SR Saphirstein AG, a Swiss fintech company regulated by FINMA. Using the [Arbitrum](https://iq.wiki/wiki/arbitrum) [Layer 2](https://iq.wiki/wiki/layer-2) network, Fiat24 provides [blockchain](https://iq.wiki/wiki/blockchain)-based payment services, allowing users to instantly transfer money and convert funds via any browser or [crypto wallet](https://iq.wiki/wiki/cryptocurrency-wallet). The platform offers debit card services for Swiss and EEA clients, enabling global transactions, and provides each user with a novel [NFT](https://iq.wiki/wiki/non-fungible-token-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. [\[2\]](#cite-id-8mravv010gy) # Products ## Digital Identity To become a Fiat24 client, users must hold a "Fiat24" [NFT](https://iq.wiki/wiki/non-fungible-token-nft) in their [Arbitrum](https://iq.wiki/wiki/arbitrum) wallet, which acts as their account number and login credential. These [NFTs](https://iq.wiki/wiki/non-fungible-token-nft) 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](https://iq.wiki/wiki/blockchain). Additionally, Fiat24 [NFTs](https://iq.wiki/wiki/non-fungible-token-nft) can be utilized by third-party [Web3](https://iq.wiki/wiki/web3) applications, providing a privacy-preserving method of verifying user status. [\[3\]](#cite-id-5q5erilnqul)[\[4\]](#cite-id-0b029e7xqam5) ## Swiss IBAN Swiss IBANs at Fiat24 are tied to users' [NFT](https://iq.wiki/wiki/non-fungible-token-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](https://iq.wiki/wiki/non-fungible-token-nft), users can manage [crypto](https://iq.wiki/wiki/cryptocurrency) 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. [\[3\]](#cite-id-5q5erilnqul) ## Fiat24 Debit Card The Fiat24 Card is a Visa debit card that allows users to spend [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) by connecting their wallet to the Fiat24 [decentralized app (dApp)](https://iq.wiki/wiki/decentralized-application). The [dApp](https://iq.wiki/wiki/decentralized-application) facilitates instant [crypto](https://iq.wiki/wiki/cryptocurrency) conversion to [fiat](https://iq.wiki/wiki/fiat-money), enabling real-world transactions online and in stores. The platform integrates with wallets like [MetaMask](https://iq.wiki/wiki/metamask), making it easy to top up accounts using tokens such as [ETH](https://iq.wiki/wiki/ethereum) or [ARB](https://iq.wiki/wiki/arbitrum-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](https://iq.wiki/wiki/defi) and real-world payments. It works on Android and Apple devices, ensuring secure, contactless transactions. Users can maintain control of their assets, converting [crypto](https://iq.wiki/wiki/cryptocurrency) to [fiat](https://iq.wiki/wiki/fiat-money) only when necessary. [\[5\]](#cite-id-37wqtmhaxfw)[\[6\]](#cite-id-3nf0qmaw2n8) # F24 F24 is the native token of Fiat24. F24 tokens are [burned](https://iq.wiki/wiki/token-burn) during user account creation or when purchasing premium [NFTs](https://iq.wiki/wiki/non-fungible-token-nft). Wallet providers also [burn](https://iq.wiki/wiki/token-burn) F24 tokens to [mint](https://iq.wiki/wiki/minting) standard [NFTs](https://iq.wiki/wiki/non-fungible-token-nft) for their clients. The F24 token underpins access to Fiat24's services, with all consumed tokens [burned](https://iq.wiki/wiki/token-burn) to maintain its [utility](https://iq.wiki/wiki/utility-token). [\[7\]](#cite-id-1nkahq2qupz)[\[8\]](#cite-id-nnfk4fwt5a) F24 had the following allocation: [\[7\]](#cite-id-1nkahq2qupz)[\[8\]](#cite-id-nnfk4fwt5a) * Early Adopters and Community: 50% * Treasury: 30% * Team: 20% ![1_kBj--nb8Jeq9S41mh36JtA.webp](https://ipfs.everipedia.org/ipfs/QmPPpyRpVmtYRCXFLR5M8o8k3Qvi8iGybxUwQLbPMWYcs2) # Partnerships * USDV * [SafePal](https://iq.wiki/wiki/safepal) * [THORWallet](https://iq.wiki/wiki/thorchain) * Halo Wallet * ONTO