💱Unstoppable Bridge
The Unstoppable Bridge facilitates direct bank-to-blockchain transfers, integrated within the Unstoppable Wallet App, mirroring the ease of traditional brokerage platforms while granting users full control of their digital assets. This bridge is being meticulously developed to comply with stringent legal frameworks, ensuring a frictionless user experience.
How it works
Deposits and withdrawals are straightforward via the Wallet App, with our banking partner acting as a custodian, ensuring a 1:1 locked asset-to-stablecoin minting process. Users' fiat is securely held until they decide to withdraw, at which point the corresponding stablecoins are burned, and fiat is released to the withdrawing user's bank acocunt.
Example: Alice wants to purchase $1,000 worth of Ethereum using the Unstoppable Wallet :
Alice initiates a $1,000 deposit within the app from her bank account.
Her fiat is locked by our banking partner, who then mints an equivalent amount in stablecoins.
These stablecoins are sent to Alice's wallet, ready for immediate use.
Upon withdrawal, the process reverses, with stablecoins burned and fiat released, maintaining a 1:1 value guarantee.
Regulatory Aspects
Our commitment to legality and seamless operations led us to establish regulated legal entities and secure a VASP (Virtual Asset Service Provider) license, setting us apart from competitors. Our VASP license and partnerships with regulated financial institutions enable us to offer this seamless service with a competitive edge.
Unlike many protocols that depend completely on third-party on-ramp services with high fees and intrusive KYC practices, Unstoppable's approach allows us to tailor our Bridge to our user's needs, resulting in lower fees, minimal legally required KYC, and a commitment to user privacy and autonomy.
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