Pebble launches a financial product with all the features banks couldn’t give you
NEW YORK, NY /ACCESSWIRE/May 2022/ Today, Pebble kicks off “The Money Revolution” by launching the first product that pays you to save, spend, and send your money, all on one balance. They are here to transform banking with a new financial system designed to keep up with the world we live in today.
All around us, technology has rapidly transformed the way we live. He brought innovation to entertainment, transportation, commerce and beyond. Yet the bank has not seen significant innovations since the 1970s.
The results? Well, the immediate needs we have are no longer what the bank was originally designed to do.
Inflation has just hit an all-time high and stock markets have fallen. The prices of basic commodities, like toiletries and food, are now rising faster than ever. That same $2,000 paycheck you got last year doesn’t buy you the same amount of goods this year.
Unfortunately, this is the world we live in today. Yet checking accounts only pay an average of 0.04% APY. Credit cards only earn an average of 1% cash back. Banks always charge you a fee for transferring money to your biller. Now more than ever, you and your money need to escape this obviously outdated financial system.
Pebble’s unveiling of its all-in-one personal finance app comes just when people need it most. “Our mission is simple,” says co-founder and CEO Aaron Bai“to overthrow the crumbling foundations of banking, so people can finally regain control of their money.”
With Pebble, you can earn 5% APY on your money with no account requirements. And in just a few months, they’ve partnered with 55 merchants to give you unlimited 5% cash back at Uber, Amazon, Adidas, Chipotle, Southwest, and more. Compared to these rates, your current bank checking account leaves your money rotting. So how are these rewards even possible?
Instead of relying on outdated lending structures, Pebble lends money to highly regulated financial institutions in the form of US dollar-denominated blockchain-based currencies called USDC. This trading model is agnostic to market volatilities, as a USDC is backed by a US dollar equivalent in reserve – managed by Circle and BlackRock. According co-founder and CTO Sahil Phadnis, “because USDC technology is more efficient than traditional rails, institutions are willing to reward us with the best rates for accessing it.” The result? Just by taking the financial steps you already take every day, your money will grow like you’ve never seen it before.
This company takes an innovative approach to all aspects of personal finance. You can easily pay, track and manage your bills (just by taking a photo), all on their mobile platform. They’ve worked with Mastercard to issue you a debit card with full budget controls. They support payroll logins so you can take full advantage of their ecosystem. And they do all of this without charging you a single penny in fees.
Finally, you can rack up the app’s loyalty points for everything you do, aptly named Pebbles. Although the company has yet to provide much information about what these pebbles can do, a blog post on their website claims they are “key to aligning the incentives of our team, investors, partners, traders and you to build the new global economy”. together.”
The more you learn about your bank’s unfair practices, low rewards, and lack of care, the sooner you realize you need to get your money out of the old financial system. There is no doubt that Pebble finally provides a solution to these problems. And it looks like some of the biggest names in finance and tech have got it, too.
Pebble has attracted legendary investors like Y Combinator, Lightshed Ventures, Eniac Ventures, Global Founders Capital, Montage Ventures and Soma Capital – as well as NFL superstar Odell Beckham Jr., Muse lead singer Matthew Bellamy, CEO of Alt Leore Avidar and Quantstamp CEO Richard Ma.
With a great product, strong investors, an experienced team, and a growing community around the business, it will come as no surprise that Pebble truly succeeds in revolutionizing the banking industry.
THE SOURCE: Pebble
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