- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
BABB
About BABB
The BAX token, an ERC-20 utility token, powers the BABB platform, a decentralized bank catering to the microeconomy. It offers UK bank accounts via a smartphone app, backed by blockchain tech. Partnerships with central banks enable global digital currency integration, boosting local economies. BABB's mission is to bank the unbanked, using blockchain for secure, cost-effective banking. BAX serves various purposes, including transaction fees and staking for validator nodes. Founded in 2016 by Rushd Averroës, a financial inclusion specialist with an MA from the University of Greenwich.
BABB, standing for Bank Account Based Blockchain, is a trailblazing platform that merges the worlds of decentralized cryptocurrency, backed stable-coins, and regulated fiat money. Operating with the BAX token, an ERC-20 cryptocurrency, BABB facilitates its services across various geographies and jurisdictions. The platform is recognized for its adherence to regulatory standards, being registered with the UK Financial Conduct Authority (FCA) under the Money Laundering, Terrorist Financing and Transfer of Funds Regulations. This innovative approach underlines BABB’s commitment to offering a fair, convenient, affordable, and inclusive financial experience.
*Bridging Financial Gaps with Hybrid Money Accounts* BABB’s core mission is to democratize access to financial services for the unbanked and underbanked around the world. The platform introduces Hybrid Money Accounts, allowing users to seamlessly manage fiat money, stablecoins, and cryptocurrencies on a unified platform. This integration signifies BABB’s dedication to providing accessible, versatile financial solutions to a global audience.
*The Role of BAX Token* The BAX token is central to the BABB ecosystem, enabling the operation of its diverse services. As the primary transactional medium, it supports various activities within the platform, emphasizing its utility and importance in driving BABB’s operations.