what's BankSocial?

BankSocial is a blockchain-based platform that enables financial institutions to integrate Web3 capabilities, such as cryptocurrency trading, self-custody wallets, and decentralized finance (DeFi) tools, directly into their existing banking applications. It leverages distributed ledger technology to facilitate secure, instant cross-border payments and liquidity settlements across multiple chains like Hedera, Ripple, and Solana, while ensuring regulatory compliance through features like decentralized recovery (DeRec) and AI-enhanced fraud detection. The platform acts as a bridge between traditional banking and crypto ecosystems, allowing users to buy, sell, hold, and manage digital assets without leaving their bank's interface. At its core, BankSocial uses its native token, BSL, to power governance, staking, and access to premium features within the network. It supports chain-agnostic operations, meaning transactions can move seamlessly between blockchains without intermediaries, reducing costs and settlement times. Partnerships with entities like credit unions and tech giants emphasize community-owned finance, where institutions can offer crypto services to members while maintaining control over data and security.

BankSocial facilitated the first credit union funds transfer over FedNow.