Smart Banking Ecosystem to protect consumers from the volatility of cryptocurrency prices

A new intelligent banking ecosystem based on blockchain technology offers an all-in-one platform for managing cryptocurrencies, legal tender and equity securities and hopes to make encrypted payments practical and widespread.

Platio believes that, ultimately, all financial activities will be tokenised and managed on blockchains, completely transforming the international financial system. However, the company says progress has been slow because some cryptocurrency features are making businesses and consumers anxious.

Its platform will provide users with the peace of mind knowing that their financial resources are secure through a suite of tools. Platio hopes to allay concerns about unreliable consumers and traders through a Smart Escrow tool, which helps both parties feel confident that transactions will go according to plan, as dispute resolution will be available if payments are not made or assets and services are not delivered.

Other features in the boot ecosystem include Asset Guard, which aims to ensure that a user's encryption is never lost. This feature allows Platio customers to automatically transfer their funds somewhere else if an account has not been used for a certain period of time. For ease of access, the company will also offer virtual and physical payment cards that can be used to make withdrawals at ATMs or purchases, with easy exchanges and refills in both cryptocurrency and fiat.

to help encryption holders protect themselves against market volatility, especially if they do not have the time to constantly monitor prices and make frequent exchanges to preserve the value of their investments. Through this tool, funds can be automatically transferred between asset types once certain triggered conditions – such as a rapid and substantial increase or decline in the value of a cryptocurrency.

Dima Okhrimchuk, CEO of Platio, told Cointelegraph: "Even in the notoriously unpredictable cryptographic markets, our customers can relax, knowing that their funds are being tracked."

Solutions for companies

To nurture the expansion of its platform and ensure that customers receive the right services for them – Platio plans to offer three levels of access.

While the base plan does not require a monthly fee, the costs associated with the use of Platio's exchange and brokerage and its payment cards are higher, with limited access to Smart Commitment and tools billing. These fees are reduced for advanced members and also for Premium members.

This higher level, which comes with a monthly fee, could be particularly useful for companies hoping to accept cryptographic payments from their customers or buyers who wish to pay in crypto in a place that only accepts fiat. Platio believes that its infrastructure can help companies increase production by reducing the costs associated with the use of traditional banking systems and the time required for many transactions.

The company, based in London, is an authorized regulated company payment institution under the UK financial authority – and also holds EU licenses for cryptocurrency transactions. These credentials were obtained at the beginning of 2018.

Ecosystem Development

A private pre-sale for PGAS tokens – the utility token at the center of the Platio ecosystem – began on August 20 and ends on 7 October. followed by a public presale from October 8th to October 21st. Finally, public sale will start on October 22nd and will last until November 4th.

Looking to the future, Platio aims to have functionality for payments and remittances, billing and processing for active and operational online merchants by 2019. The second half of the year will see the first iterations of its brokerage and exchange, Asset Guard and Smart Escrow. These products will be completed in 2020, although these times are subject to change.