Gluwa, a borderless financial platform based in San Francisco created to provide access to valued currency, credit or investment opportunities that are free from national boundaries, has been chosen as a winner of the Inclusive Fintech 50 competition.
The competition, which selects the top 50 global fintech early-stage companies working on high-social impact financial innovations, has this year selected the best among nearly 400 candidates, and Gluwa has been chosen as a winner. But, what is Gluwa?
Gluwa is a blockchain-based platform combining decentralized finance (DeFi) infrastructure with investment opportunities in order to create a new financial ecosystem for people who do not have access to banking services thanks to its permissionless Creditcoin blockchain.
The aim of the Inclusive Fintech 50 initiative, which is managed by the Center for Financial Inclusion (CFI), is to find early-stage fintech firms and help them achieve a more inclusive financial ecosystem. To this end, the initiative chooses its participants based on four criteria: inclusivity, innovation, traction and scale potential.
What Do Companies Get by Participating in the Inclusive Fintech 50?
The mere participation in the initiative increases the startups’ visibility and credibility among investors as well as media and partnership exposure.
It is worth taking into consideration that the IF50 is sponsored by major companies, including Visa, MetLife Foundation and Jersey Overseas Aid & Comic Relief, with support from Accion and IFC.
What Does Gluwa Offer?
Gluwa aims to improve financial inclusion with the help of different solutions. For example, apart from its non-custodial crypto wallet, Gluwa is also active in the decentralized lending field through Gluwa Invest, which allows users to receive up to 12% APY on their deposits with funds distributed to Gluwa Capital’s international network of fintech lenders aimed towards boosting financial inclusion.
On top of that, the Gluwa project also has its on native currency, the Creditcoin, which has put down the foundations for a decentralized credit ecosystem by recording lending contracts on a decentralized blockchain.