Announcing BRL bank deposits through nTokens!

A new partnership!

We are super excited to announce yet another partnership, this time with nTokens! They will start on- and off-ramping the Brazilian Real (BRL) stablecoin in Beans!

‍Beans app is slowly building up a network of on/off-ramps that improves both currency choices and ease of use. Beans, a non-custodial wallet built on stellar, will work with nTokens for on- and off-ramping from Brazil. This will mean a streamlined in-app experience to deposit and withdraw Brazilian Real tokens from and to your bank account!

Who are nTokens?

nTokens is a Brazilian-based blockchain fintech startup, built by a team with over 20+ years of traditional finance digitalization experience. Their vision is to bring scalable and innovative financial products to the market, and they have found this opportunity in the Stellar Development Foundation. The goal of nTokens is to embrace blockchain technology and to empower the Brazilian community to transition to blockchain finance. In the end, they want to create value for their users in this digital world!

nTokens provides a fully regulated on- and off-ramping service in Brazil, issuing the BRL stablecoin on the Stellar blockchain. The BRL tokens are backed 1-to-1 in nTokens own reserves, which guarantees a stable price on the stellar blockchain! Their service is available through their Sep-1, Sep-10, and Sep-24 integrations, offering both businesses and consumers a safe and fast way to interact with nTokens. For transparency, nTokens has published a transparency report which discloses the issuance, fiat reserves, and addresses they use!

What’s in it for Beans?

nTokens shares our vision to use stellar in a way to empower cross-border and cross-currency payments, and with their help to onboard Brazilian users everyone will benefit from this partnership. nTokens will help Brazilian citizens onboard Beans by providing a fully regulated and KYC-enabled service!

We are thrilled to have nTokens as a stablecoin provider, and we are excited to see what this partnership will bring us. This partnership will mean that anyone using Beans can use nTokens’ on/off-ramp without having to leave our app, and people all over the world can use a Beans account to receive, send and save BRL!

So what now…

As we speak, the nTokens integration is live! This means that you are already able to deposit and withdraw to and from Beans using the on- and off-ramp that nTokens is providing. You can already download the app to try out Beans and the nTokens onboarding interface, or you can check out the nTokens website for more information!