Web3 neobanks are connecting crypto, banking, and DeFi into one app-based service.
- THORWallet offers a mix of fiat banking and DeFi tools in one mobile app
- Users can hold, spend, and send multi-currency funds, both crypto and fiat
- It features crosschain swaps, peer-to-peer payments, and Mastercard support
What Makes Web3 Neobanks Different
Web3 neobanks use blockchain to offer faster, cheaper financial services. Unlike regular banks, they let people manage crypto and local currency in one place. These apps are self-custodial, meaning the user controls their own funds. Stablecoins like USDC or tokens of normal currencies like USD and EUR move across networks in seconds.
Why They’re Becoming Popular
People around the world work and get paid in many currencies. They need tools that work across borders without extra fees or long delays. Web3 neobanks give them easy access to both fiat money and crypto. Features like savings, staking, and yield strategies are also available from the same app, giving users more control and flexibility with their money.
THORWallet’s Role in the Shift
THORWallet is one example of this new type of banking. Built from the THORChain network, it combines a Swiss-regulated bank account with DeFi and trading tools. Users get a personal IBAN and can hold balances in CHF, USD, EUR, and CNY. A Mastercard debit card works around the world and supports Apple Pay and Google Pay. Some users can even spend up to $1 million per month.
Sending, Spending, and Swapping Made Simple
The app lets users send and receive fiat money instantly. QR invoice support and IBAN transfers make it useful for people and small businesses. On the crypto side, native crosschain swaps let users trade coins like BTC, ETH, SOL, and XRP directly without using wrapped tokens or middle services. Integration with Circle lets USDC move easily across Ethereum, Arbitrum, Base, Avalanche, and Solana.
What This Means for The Future
Web3 neobanks are making it easier for people to use crypto in their daily lives. A single app can now replace many traditional banking and finance tools. As more people look for speed, value, and control, services like THORWallet may become the way people send and store money across borders.
Source: cointelegraph.com
