The Caribbean is uncharted territory in regards to fintech. There are little to no options available that are up-to par with other regions.
When narrowing to neobanks and present-day finance, the alternatives are quasi non-existent. Here is where Migom Bank comes to change paradigms. Migom is a neobank based in the Caribbean that combines crypto assets with digital banking. It allows individuals and businesses to access emerging markets.
What is Migom?
Migom Bank is a neobank based in the Caribbean that gives emerging markets a suite of tailored banking services. They compose a full dashboard of attributes that cater to businesses and entrepreneurs.
In addition, they are licensed for providing crypto-related services, deal-oriented compliance, broader banking credit, and moldable solutions. These help clients benefit from a platform that is on the lookout to blend traditional banks with the electronic world of digital assets.
They create a net of affiliated businesses in several countries and a seamless integration of fintech and banking solutions.
Crypto-to-fiat and fiat-to-crypto modalities are present, as well as several OTC crypto options — making Migom Bank a great service provider in the area.
Where Migom makes a difference is that it became a refuge for businesses who have been subjugated to a practice called ‘de-risking’, which is used to eliminate - albeit in a morally dubious way - lack of company compliance.
‘De-risking’ consists of freezing funds and blocking accounts with the goal of getting rid of unwanted businesses. Businesses that operate outside the purview of law.
History of Migom
Migon was incorporated on february 29th, 2016. Migom Bank opened its doors to help people who were left behind by the banking system.
Migom Global corp. Is on a mission to dive into international banking, securities brokerage, digital assets origination, market-making, setting up a business network with the aim of blending fintech financial solutions with traditional banking. Multicurrency IBANs, QR code payments, and cryptocurrency exchanges.
Features of Migom
The features of Migom allow its users to bank confidently from any part of the world with their Migom Mobile app. Users can manage their accounts, pay bills, make purchases, request transfers and transfer money from the security of their device.
In general terms, the IT department is constantly updating the app — guaranteeing a user experience that is ahead of the game. Improvements in speed and reliability are performed on the regular basis, paired with bug and performance fixes.
Banking
Migom offers the possibility of acquiring integrated banking services, universal personal accounts, cryptocurrency operations, and many other features.There are no hidden fees, as everything is stated upfront. Customers can comfortably pay with the QR code app feature, and freely exchange between 18 kinds of cryptocurrency on the app.
In essence, their Whole In One Banking Service is a holistic approach to a full suit of e-banking options, alongside in-app features that make the experience noteworthy.
Separate accounts for different purposes are allowed. Users can divide funds between accounts and have more control over their capital and their investments.
Securities
Migom offers access to a vast world of stock trade markets, technical formation, and blockchain platforms. In case clients don’t want to operate solo, there is also the choice of hiring a certified broker.
Debit Cards
A Visa Migom Card, loyalty and affinity programs, and business expense management solutions are tools the company is working on and will incorporate in the near future. .
E-Money
E-Money is dealt with via cloud-based security methods for e-wallets in Migom, affiliated to SEPA and SWIFT programs for security. Other upsides of setting up a Migom account is that the people who do so can obtain virtual and prepaid debit cards and peer-to-peer money transfers.
Open Deposit
Migom Certificates of Deposit pay 3.5% in interest rates in stable currencies like USD, GBP, and EUR. Quarterly payments are issued with the dividends for Migom clients.
Users can feel safe that their money is in good hands, as all of the deposits are in the custody of a Swiss correspondent bank.
Extras of Migom
Other aspects of Migom Bank that can be extremely attractive is that since it is located in the Caribbean, particularly the country Dominica, their services are regulated by the Financial Services Unit of the Ministry of Finance of the Commonwealth of Dominica.
Migom Is Set to Make a Statement
Migom looks like a promising prospect in its respective market niche, as it offers the best solutions for the region, providing customers with problem-solving tools that will redefine their banking standards.
