Senit App Ltd is a UK based FinTech focused on creating the next-generation of mobile banking services using stablecoin technology. After years of creating financial solutions in developing nations, the team at Senit have combined their experience with the latest in blockchain, cloud and mobile technology to build a platform that is capable of providing financial freedom and equality for everyone.
“Globally, 1.7 billion adults remain unbanked, yet two-thirds of them own a mobile phone that could help them access financial services”
World Bank Report April 2018
The company’s goal is to remove the costs and restrictions people face using banking today so they can take part in the global financial economy. Migrants and the diaspora around the world will be able to use Senit to easily open USD-backed accounts and use them to store, manage and transfer funds back to their home countries. Their family and friends at home will then have instant access to funds they receive and can use them on demand.
Stablecoin Technology
Senit’s platform is powered by the USDC stablecoin, created by Circle Financial Service Ltd. USDC is a new type of crypto currency that is linked to the price of the US dollar so it is always redeemable 1:1 for U.S. dollars. It was created to make digital transactions faster and more secure, reduce the fees and costs of moving money, and reduce the volatility associated with crypto-assets like Bitcoin.
The Senit Financial Services Platform
Senit’s core platform is being built using bank grade technology hosted on Microsoft’s Azure cloud. It features fully segregated USDC accounts connected via next-generation payment rails, and will deliver on the promise of no-fee instant transfers. Direct integration with the global banking network will allow users to cash-in and cash-out using local bank accounts, mobile money wallets and credit and debit cards, in over 200 countries and cities around the world.
The Senit mobile app will be free to use and available for both Android and iOS devices. In addition to its wallet and banking services, it will provide access to a variety of financial services including mobile top-up, bill payment, micro loans and insurance. It will also provide advanced features such as crypto and micro-stock trading. It will also empower merchants with a low-risk solution for accepting global crypto-currency payments by converting them to USD.
“Much in the way email changed the world by making communication fast and cheap, digital currencies are changing the world of digital finance and reshaping how we perceive, manage and store our money.”
Karsten Becker, CEO, Senit App Ltd
Our Mission
Senit’s mission is to remove the barriers that prevent people from developing nations from opening and maintaining bank accounts. In doing so we will open the doors to the global financial super-highway to the worlds’ unbanked and underbanked, and help to reduce poverty and accelerate financial inclusion.
We are currently building Senit’s mobile wallet and working on developing our financial services platform and next generation mobile banking services. You are invited to stay connected and follow our project through updates on our website at www.senit.com and via social media.
About Senit (www.senit.com)
Senit is your partner in the new world of crypto-currencies. We have built a powerful and intuitive platform that removes the barriers and boundaries people face joining the global financial super-highway.
