In 2024, the demand for transparency, efficiency, and accessibility reshapes how we think about money and day-to-day transactions. The global financial system is still not keeping pace with the modern, fast-moving blockchain’s capabilities. Let us explain…
What if we told you we figured out a way to connect the missing dots, in both traditional and decentralised finance without the need for middlemen or compromising on regulatory compliance?
First off, TradFI is reliant on outdated systems, slow transaction speeds, and intermediaries — has become a hurdle rather than an enabler. Cross-border transactions, for instance, still take days to settle and often come with high fees.
Secondly, DeFi has a naturally complex and non-user-friendly nature to attract retail users who often feel confused about using any of its services. Not to mention there are still many gray, unregulated areas around protocols and how they operate.
So how do we bridge the gap? 👇
ReDeFi’s Approach 🚀
ReDeFi is enabling a secure, regulated and fast middle-ground solution. It’s essentially a financial market infrastructure (FMI) platform, built to merge the best aspects of TradFi and DeFi, with a key component: regulatory compliance.
Our goal is to create an ecosystem that is private, secure, and integrated with real-world institutions like banks and financial entities, all while maintaining the values of decentralisation.
Onchain Money tokenises fiat currencies like GBP, EUR, and USD (the first ones) on the blockchain, having these on-chain assets mirror their real-world counterparts. Not pegged to GBP/EUR/USD like most stablecoins out there, but actually backed by the actual reserve of each country’s central bank currency.
What this means:
- No volatility (since 1 Onchain GBP for example, always is 1 GBP).
- No uncertainty about regulations and risks. (Onchain Money preserves the ‘singleness of money’ principle, meaning that it adheres to current monetary policies & regulations)
Onchain Money is tokenised fiat — a digital version of currency that can be transacted on the blockchain, and that settles back into traditional bank accounts as fiat money.
The Problem & ReDeFi’s Solution 💡
Today’s global financial system is full of inefficiencies. Cross-border payments still take days and require multiple intermediaries, all of whom charge fees. Access to financial services in certain regions is limited, and even in developed markets, the friction and costs associated with international transactions are high. Despite technological advances, banks and payment systems have not caught up with the demand for faster, more accessible, and cheaper money transfers.
Moreover, DeFi — despite its rapid rise — has struggled to find true mainstream adoption because of one major issue: lack of trust. Without regulatory oversight, many users and businesses remain hesitant to fully commit to decentralised platforms.
And the problem doesn’t even stop there. True decentralisation and true scalability haven’t been achieved yet. Why? Because everyone either focus on getting the most innovative platform that can achieve so high TPS that forget what real matters. And on the other hand, centralised institutions control and monetise how you spend, giving you small rewards for hefty monthly fees.
ReDeFi on the other hand, was created to address these exact pain points. Instead of our user base paying monthly fees to get fancy restaurant and shop discounts, they can directly be involved with our network and earn in the process of supporting and using our network. The cherry on top? Everything is verified and transparent since…well, ‘’blockchain.’’ 😅
Here’s how we’re doing it:
- Onchain Money: This allows users to move traditional currencies, such as GBP, on-chain with instantaneous finality, without the need for intermediaries. The funds are mirrored on the blockchain and can be transferred globally, cutting down the waiting time and fees associated with payments. Once the transaction is complete, the digital representation is burned, and the equivalent amount of fiat settles directly into the recipient’s traditional bank account.
- Regulated Framework: By building a compliant ecosystem, we ensure that banks and financial institutions can interact with decentralised systems without compromising on trust or security. The first major test of Onchain Money will take place in partnership with Clearbank in the UK, allowing for fiat-to-blockchain transfers, enabling businesses to send GBP across borders, settle payments, and interact with digital economies — all from a regulated network.
Where We Are Now: Internal Testing 🧪 & Next Steps
Right now, we’re in the internal testing phase of Onchain GBP, with 10 lucky individuals set to try the system firsthand. We’ve seen positive results, and this next step will allow us to refine and optimise the platform before the public release.
After this, Clearbank — our existing partner within the BABB app — will begin testing Onchain GBP, marking our first-ever integration of a traditional bank with a blockchain-based tokenised fiat system.
Future Prospects — Building ReDeFi
While we’ve been working hard on the technical front, we realise now is the time to tell the bigger story: why ReDeFi matters. We’re not just creating another DeFi protocol — we’re laying the foundation for a regulated decentralized financial system that banks, businesses, and everyday users can trust and use.
As we continue to build momentum, we are looking for more partnerships with financial institutions and integrations that bring Onchain Money to life. The future of finance isn’t just decentralised — it’s also regulated, it’s decentralised, and it’s here.
Stay tuned as we prepare to launch Onchain GBP for public testing and move closer to full-scale implementation 🙏
By the way, we are hosting our $RED presale on Gempad starting the 7th of October. Want to participate and contribute? Read more on the card below! 👇
📖 Learn More:
🚀Presale Landing Page: Join the RED Presale
🔗All Official Links: Linktree
About ReDeFi
ReDeFi is a Financial Infrastructure Platform (FMI) merging TradFi and DeFi. It uses a Substrate Layer-1 blockchain for decentralisation, while the Layer-2 sidechain focuses on privacy for B2B cross-border transactions, banks and financial institutions clients and so much more. The MVP is Onchain Money, a tokenised deposit system that mirrors fiat currencies in traditional bank accounts on-chain, enabling transactions using standard bank details.
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