NAKA develops a blockchain-based payment network and a self-custodial card that allows users to hold, transfer, and spend tokenized assets without needing a bank account. This technology addresses financial exclusion by enabling businesses to offer essential financial services to the unbanked population, facilitating seamless transactions across various cryptocurrencies.
Funding
$21.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TOFounders
Product
Problem
Globally, a significant portion of the population lacks access to traditional banking services, hindering their participation in the modern financial system. Existing solutions often exclude individuals without bank accounts, limiting their ability to conduct transactions and manage their assets effectively. This financial exclusion disproportionately affects vulnerable populations and impedes economic growth.
Solution
NAKA provides a blockchain-based payment network and self-custodial card that empowers users to hold, transfer, and spend tokenized assets without requiring a traditional bank account. The NAKA card is EMV-compatible, enabling seamless integration with existing point-of-sale systems. Users maintain control over their funds through a self-custodial wallet, ensuring privacy and security. The platform supports various cryptocurrencies and allows users to convert tokenized assets into fiat currency for everyday spending. NAKA's payment network aims to bridge the gap between traditional finance and the blockchain world, fostering financial inclusion for the unbanked population.
Target Audience
The primary target audience includes unbanked individuals, businesses seeking to offer financial services to underserved populations, and crypto users looking for a seamless way to spend their digital assets in the physical world.
Features
- Self-custodial card compatible with the EMV standard for global acceptance
- Support for holding, transferring, and spending various tokenized assets
- Integration with MetaMask and other self-custodial wallets
- Blockchain-based payment network for secure and transparent transactions
- Conversion of tokenized assets into fiat currency at the point of sale
- Customizable card features and appearance for issuers
- Payment acceptance supports BTC on the Lightning Network and USDT on Polygon, Tron, and Ethereum