Salihu Muhammed
4 min readJul 3, 2022

Banks were the natural evolutionary solution to the needs of modern finance. Immediately man started shifting away from trade by barter and into a semblance of what we use in our financial systems now, a central and accepted means of exchange, be it precious gems or fiat currencies banks have served a purpose.

From the early banks which served the major purpose as just a place one could store his wealth, to issuing papers of credit, assuring the recipient that the person issuing the paper has so and so amount of money with this certain bank and can pay for the goods or services.

To the next step where they started issuing loans with the deposits they had from other clients and collecting interest on the loans given out.

Banks have been a major backbone of our modern financial system, although they might not be the best but they are what we have and they have endured for centuries with a few tweaks here and there and a testament to their longevity and usefulness are central banks which are the banks for countries, that are in control usually of minting the countries currency and regulating commercial banks that operate on the country, now tell me if they weren’t useful would all the countries of the world have central banks?

Now with a lot of the populace of the world in a tizzy over decentralised finance and the anonymity and protection that they get from using and transacting in crypto one might wonder how the worlds of crypto that is by nature decentralised with no central body governing the transactions (this is done by the blockchain which is more secure if you ask me), and that of banks which are by nature centralised every decision and transaction passes through and is vetted by their system and they make decisions without seeking the users input.

But Metabank is looking to marry these two seemingly alien concepts into one by launching the world’s first bank on the metaverse which will be dealing in crypto and providing the Services of a traditional bank without losing all the advantages of decentralised finance the that so many people are coming to love.

So let’s get into some of the things that the worlds first decentralised bank is going to offer it’s users:

• LOANS: this is one thing banks and conventional crypto lending platforms have in common, but what Metabank plans to do different is make it a P2P lending system, where they match you with people that are ready to lend out there money, you can use up to 17 crytpo currencies as collateral, and soon in the future you can use land you own in the Metaverse as collateral.

• STAKING: in the world of commercial banks this can be likened to the interest that you get paid on your savings account but in the crypto world the amount you get paid for staking your tokens is magnitudes higher and with Metabank you can get 40–80 % APY for staking your tokens in their pools.

  • CREDIT CARDS: this is the part I find truly revolutionary about Metabanks they are partnering with Visa and MasterCard to provide credit cards for Metabank users that you can even link with your Google play and Apple Pay, so you can make payments with your crypto anywhere. The other wonderful thing about this is that because Metabank is a metaverse bank, when you have am account with them and you go into any metaverse you can spend your tokens with little to no effort, all the headaches that come with swapping to the Metaverses tokens will be eliminated.
  • METABANK FRANCHISE: as with any bank to be really influential you need a presence nearly everywhere, and keeping with the tenets of crypto of financial empowerment, Metabank is giving people to open franchises in Metaverses so that, two things happen, increases the reach of Metabank and provides financial freedom to franchise owners. The Metabank franchises will also come with metaverse avatars to answer all customer questions.

• GOVERNANCE TOKENS: what a lot of people like crypto and blockchain technology for is the inclusive feeling they get from Decentralised finance that is not there in traditional banking, and Metabank offers that with their governance token Metax, where holding it gives the users a voice when it comes to what direction they want the first metaverse bank to go.

So what Metabank is doing is revolutionary and they are taking the jump on traditional banks before they can migrate to the metaverse , so join up early and have a slice in this 8 trillion dollar market according to major US investment banks.