Got Questions? We’ve Got Answers!
At ReDeFi, we’re introducing Onchain Money, a new form of digital currency that differs from traditional stablecoins.
Explore our FAQs to learn how Onchain Money works and what sets it apart.
Onchain Money
Whom we serve
Our onchain solutions are regulated, decentralized, transparent, open, and scalable to every business aiming to expand on a global scale.
Banks
Fintech
Startups
FX Providers
Governments
Remittances
Onchain Money
Why Onchain Money
Organisation behind
Onchain Money
Bank-issuer, BABB, ReDeFi
Stablecoins
Tether
Are they on-chain tokens?
Onchain Money
Yes
Stablecoins
Yes
Who is in control of the money?
Onchain Money
Money is stored on the bank’s account under the user’s (owner’s,) so the account holder’s is the owner
Stablecoins
The issuer controls the token and money.
Is there an exchange of crypto assets for money?
Onchain Money
No, since they are mirrored in a bank
Stablecoins
Yes
Does the pricing fluctuate?
Onchain Money
No, it is an equivalent to conventional GBP
Stablecoins
Yes
Does the payment process work with 3rd party banks (e.g., that do not enter the ReDeFi environment)?
Onchain Money
Yes, since they are mirrored in a bank
Stablecoins
No
Are they FSCS protected?
Onchain Money
They are mirrored in a segregated bank account.
Stablecoins
No
Can they be approved by regulators?
Onchain Money
They are mirrored in a segregated bank account.
Stablecoins
Can be registered and controlled to a certain degree
Do they weaken the AML/KYC compliance?
Onchain Money
No, since all ReDeFi environment users have gone through KYC
Stablecoins
Yes
Is there commonly shared confidence in the value among all users?
Onchain Money
Yes
Stablecoins
No
Can costs or delays be imposed by the issuer?
Onchain Money
No
Stablecoins
Yes
Can they be credited to an account at face value automatically?
Onchain Money
Yes
Stablecoins
No
Can they be settled using Central Bank money with any bank?
Onchain Money
Yes
Stablecoins
No
