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- Lama provides crypto wallets and euro accounts for individuals and companies across the European market with the help of Lama Visa Cards.
- Lama has partnered with Ledger Hardware Wallet to provide safe custody of customers’ crypto assets.
The global financial industry is experiencing a phase of intense changes through emerging technologies including Artificial Intelligence (AI) and the blockchain industry. Businesses do not have the luxury of assuming these technologies since the users are demanding fast, secure, and affordable platforms to facilitate the transfer of data across the world. Moreover, the adoption of cryptocurrency has significantly changed the perception of money to most people around the world.
Currently, Bitcoin is legal tender in two countries and many more nations including from the European market have allowed the use of digital assets for payments and investments. As a result, the need for financial platforms that bring together businesses, customers, and investors has risen in the recent past.
One such promising financial platform that combines the traditional and modern aspects of money is Lama, which received an initial investment of about £3 million from the founder to bootstrap the developments.
Closer Look at Lama
Lama has a myriad of products with the key mission of bringing the world of innovative blockchain financial services to the global mass market in a way that is easy, uncomplicated, friendly, and most of all, trustworthy.
The Lama ecosystem takes pride in a team of professionals ready to develop the needed rails for mass crypto adoption. Furthermore, the Lama idea was conceptualized before the 2021 crypto bull market in a bid to fill a gap between emerging technologies and novice investors. In the words of Jocelyn Braun, Co-founder and CEO at Lama Group:
‘We believe that making crypto and traditional currencies meet in one app is the perfect way to experience the future of banking. We expect from the future that financial transactions should be really easy, cheap, and time efficient,”
Lama has significantly focused on providing products that are regulated to ensure safe adoption. Currently, the Lama platform is regulated. Moreover, the Lama products are registered in Lithuania, thereby allowing users in the European market to open crypto accounts with the platforms.
Additionally, the Neo crypto bank is authorized as an eMoney Distributor of Modulr Finance B.V, which is authorized by the De Nederlandsche Bank, hence allowing its users in the European market to open Euro accounts.
Lama Products
Some of the popular Lama products include the Lama Visa Cards which come in digital and physical forms to help users spend their crypto in physical shops or online businesses. The company also runs an over the counter trades for larger crypto volumes, which offers its users the best rates.
The Lama platform also runs a referral program to enable users to invite their friends and get rewarded with different products including crypto, NFTs, and premium accounts. As a mobile-centric platform, Lama services are readily available through mobile applications, whereby the Android version is already out but the iOS is in the development phase.
Moreover, Lama intends to provide crypto loans to its users through the use of digital assets as the base collaterals to help secure instant cash. Interestingly, the Lama platform provides its users with a crypto earn program that enables them to earn possibly by simply holding via the Lama products.
For instance, the Lama protocol pays a Bitcoin holder on its platform 0.25 BTC per year for saving 5 Bitcoins. Other digital assets available in the earning program include Ethereum, Euro, Cake, BNB, and Ape Coin.
In addition to providing crypto services to customers, the Lama products have also focused on businesses seeking to tap the digital economy. Moreover, Lama provides businesses with a safe payout where crypto and fiat meet in one application.
The NFT and Metaverse Adoption
Having achieved more than 30k users, Lama has diversified its focus to the NFT and the metaverse industry. Furthermore, the Lama application will provide users with an NFT marketplace in Q3/Q4 2023 to allow users to trade digital collectibles seamlessly. The company notes.
“The goal of this marketplace will be to provide a very easy way for everyone to trade and follow the NFT market. You should not need to be a blockchain specialist to be able to trade NFT with Lama,”
Meanwhile, the Lama team has developed Lama NFT collectibles. With the help of Lama NFT Vault to ensure secure mass storage, the team is confident of mainstream crypto adoption.
The Lama NFT collectibles are then provided with a metaverse ecosystem dubbed the Lamaland Metaverse. However, the Lamaland Metaverse is expected to be launched in 2024 after several distributions of Lama NFT collectibles through OpenSea and other marketplaces.
