Moneyfold is a UK-based financial firm that makes money composable, and eligible for use in the open finance stack. We successfully completed the FCA regulatory sandbox programme, and our stablecoins are financial instruments with daily proof-of-funds. Our GBP and EUR stablecoins are live on the Ethereum public blockchain and we can support 14 currencies in total.
We have demonstrated to date a number of use cases including on-chain merchant payments, synchronised real-time FX settlement, turning an ID into a financial platform, and liquidity transfer from a centralised exchange to a DEX (decentralised exchange). This is made possible by using public blockchain technology and smart contracts to effectively decentralise the record-keeping layer of the traditional financial system.
We are engaged in the Bank of England's RTGS Renewal Programme, because we believe that public blockchains is the right tool to accomplish synchronised settlement (a.k.a. atomic swaps). We have also contributed directly to the EBA's framework setting for sandboxes and innovation in the EU, and indirectly to ECCB's (Eastern Caribbean Central Bank) blockchain-issued Central Bank Digital Currency (CBDC) pilot within the Eastern Caribbean Currency Union (ECCU).