BankSocial is a global financial technology firm working to bridge traditional financial (TradFi) systems with emerging digital asset technologies. It utilizes artificial intelligence, machine learning, and distributed ledger technology (DLT), on the Hedera blockchain network.
The company offers a suite of integrated financial products and services designed for both individuals and enterprise financial institutions, with a specific focus on credit unions and their members. Key offerings include a self-custody crypto exchange, know your customer (KYC) user verification solutions, lending services, and the $BSL token, which offers staking with potential stablecoin rewards. Its ecosystem also encompasses a payments hub, fraud management tools, a digital wallet, and custom software and API development.
Its focus on the credit union sector allows it to provide partners with technology bridging TradFIi with Web3 and offers secure self-custody for cryptocurrency holdings and access to a suite of DeFi tools through a user-friendly interface.
The firm holds a Money Services Business (MSB) registration with the US Treasury’s Financial Crimes Enforcement Network (FinCEN) and Canada’s FINTRAC through Fivancial Inc.
BankSocial also developed the Secura platform, in collaboration with Hedera, which focuses on real-time fraud monitoring and asset recovery in the Web3 space.
Project Information
Related Projects
Edge is a US-based non-custodial cryptocurrency wallet provider that was founded in 2014. Its primary product, Edge Wallet, is a multi-asset mobile application that allows users to buy, sell, store, and trade a wide variety of cryptocurrencies.
Key services include in-app cryptocurrency purchases through various third-party providers, crypto-to-crypto swaps, and the ability to purchase gift cards with cryptocurrency. A distinguishing feature of Edge is its "zero-knowledge" security architecture, which means that the company has no access to user funds or data. The wallet uses a simple username and password system for account creation and backup, which is a more familiar experience for mainstream users compared to traditional seed phrases.
Edge has a direct integration with the Hedera network, providing full support for HBAR and other Hedera-based assets. This allows users to securely store and manage their HBAR within the Edge wallet. The integration is seamless, enabling users to easily send, receive, and trade HBAR alongside other major cryptocurrencies.
SCB TechX is a subsidiary of SCBX Group, the parent company of Thailand’s first bank, the Siam Commercial Bank (SCB). Its focus is on the development of digital technology solutions, applications, and platform-as-a-service offerings.
The company provides a range of services, including technology consulting, integrated solution development, and technology infrastructure and digital platforms management. With key applications and services including data analytics and AI solutions such as its TechX Data Platform for enterprises.
SCB TechX also specializes in cybersecurity, digital identity verification know your customer services (eKYC), and the development of enterprise-level apps and mobile banking solutions.
The firm leverages blockchain technology for cross-border payment initiatives and central bank digital currency (CBDC) research and the exploration of stablecoin use cases for cross-border remittances using Distributed Ledger Technology (DLT) on the Hedera network in order to streamline international remittances, reduce costs, and provide massive improvements to transparency and settlement speed compared to traditional finance (TradFI) methods.
Lexie is an AI-powered enterprise solution that enables businesses to securely integrate advanced AI models with proprietary data. Its platform is designed to provide real-time insights and automation, while ensuring the privacy and security of a company's internal information.
The core of Lexie's service is its custom-built large language model (LLM) stack, which is designed to outperform popular systems such as ChatGPT while reducing the risk of "hallucinations," or inaccurate outputs. The platform can be deployed on-premise or in a hybrid cloud environment, giving businesses maximum flexibility and control over their data while ensuring data safety compliance in any operational environment.
Lexie's fullstack array of professional services are tailored to a variety of industries, including financial services, legal and compliance, and media and entertainment. A key product is the LEXI AI-Powered Captioning Tool Kit, which leverages the platform's advanced AI to provide live and recorded captioning, translation, and other media services.