Crypto Story Bank will be the first bank to connect merchants to accept crypto payments in Nigeria. In cooperation with local businesses and a local bank, more than 7,000 outlets will be installed in Abuja, Lagos and other cities.

Crypto Story Bank is one of the first banks in modern history, which allows users to carry out all the usual operations with cryptocurrency in one convenient application. It works on 40 networks and combines tools for investing, storing and transferring cryptocurrencies, a social network, payment cards, credit products, as well as special products for business.

What Kind Of Terminals?

The bank integrates two types of cryptocurrency banking terminals for business. There is the Terminal mobile application for offline store owners, and a convenient online payment solution for websites. During the first months after the launch, the owners of Crypto Story Bank Terminals will have the opportunity to use free corporate service at the bank. Clients can register their companies in the Terminal service only if they are CEO. A smartphone is a cash terminal for a retail store. All operations for write-off, refunding and encashment are carried out through a smartphone.

Why Is It Important And Needed?

Digital assets are becoming more and more popular, and the number of cryptocurrencies in the world has exceeded 23 billion. At the same time, there are no large banks that would conduct transactions, guarantee the safety of money, issue crypto cards and provide mobile banking acquiring services. Therefore, the emergence of a large crypto bank that would consolidate the market could be an important step in the development of the industry. This is the task that management of Crypto Story Bank sets itself. Crypto bank customers can be assured that they receive only verified, clean cryptocurrency, and their transactions are completely safe. More and more people use cryptocurrency to save their money from inflation and to facilitate transnational payments. Vendors who want to work with this wealthy audience need to offer them a convenient way to conduct transactions.

And this is particularly relevant in Nigeria as far as in May, 2023 the government of the country approved a national blockchain policy as a part of the country’s effort to transition to a digital economy. “The vision of the Policy is to create a Blockchain-powered economy that supports secure transactions, data sharing, and value exchange between people, businesses, and Government, thereby enhancing innovation, trust, growth and prosperity for all,” the Federal Ministry of Communications and Digital Economy claimed.

What Kind Of Bank Is This?

Crypto Story Bank is a startup founded in 2022 by Ivan Grinev. The project aims to create a safe and convenient platform for the use of cryptocurrency in everyday life. Crypto Story Bank has all the necessary products for investments, storing funds in the account, as well as obtaining loans. The developed ecosystem of the bank allows a customer to receive any necessary information within the application.

Ivan Grinev noted that CSB combines a classic bank and popular financial mechanisms with the latest developments characteristic of cryptocurrency transactions and investments.