Floki developers are working on offering regulated digital banking accounts that can be funded with FLOKI tokens and used to transact in USD, EUR, and GBP.
The project also includes plans for debit cards and staking services, with accounts being facilitated through a partner licensed in Canada, Spain, Dominica, Australia and the UAE.
Floki developers are planning to offer users a regulated digital banking account they can fund using (FLOKI) tokens that transact in dollars, euros and sterling, lead developer B told CoinDesk.
The development is part of a broader plan to release debit cards and staking services propelling the dog-themed meme coin to a serious project that offers users a crypto-based financial application.
“We will introduce Floki-powered Bank Accounts in partnership with a fintech company,” B wrote in a Telegram message. “These accounts will be facilitated through a key partner licensed in four key jurisdictions: Canada, Spain, Dominica, Australia, and the UAE.”
Users will be able to create digital bank accounts and generate debit cards linked to these accounts, B said. Payments over the SWIFT international banking network and SEPA IBANs will be supported – allowing users to transact and transfer money globally.
The debit card will be offered on both the VISA and Mastercard payment networks. The cards will be issued in partnership with a Switzerland-based company that is regulated under the Swiss Financial Market Supervisory Authority (FINMA), the country’s top watchdog.
FLOKI tokens are down 6.7% in the past 24 hours, data shows, faster than the broader market drop. The CoinDesk 20 Index has dropped 3.5%.
Floki, fashioned after the popular Shiba Inu dog breed that has spurred popular tokens including dogecoin (DOGE) and shiba inu (SHIB) , started as a meme coin project and has tried to shift its image in the past years with a focus on projects spanning from gaming applications to artificial intelligence.
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