Small businesses are a large and important part of South American economies. Yet financial services are bureaucratic, very costly, and not at all accessible. This means small businesses are unable to succeed or do as well as they deserve.

There is an oligopoly on these services in the region, and this means existing companies take advantage of consumers and charge extortionate costs for their services. For example, you may be charged monthly just for owning a bank account.

We aim to change that, using a mixture of fintech and DeFi (Decentralised Finance). Focusing primarily on Brazil, we are making financial services competitive and easy to use.

Additionally, we want to bring adoption of the latest fintech and blockchain technologies to a wider audience. These can have a transformative effect on people’s lives and increase crypto adoption.

Part of this process is our goal to create a network of interlinked and incentivized firms, consumers, and individuals, providing entrepreneurial support and a governance system that empowers all.

What does SaveToken do?

The SaveToken project is organized into two main groups, SAVE Fintech and the SAVE Institute.

SAVE Fintech delivers fintech solutions, including business consultancy and the most competitive interest rates on collateral-backed loans in Brazil. This means businesses have better access to credit and to financial advice, and at fair prices.

In addition, we will offer business consultancy and are planning future services like fiat accounts.

Once infrastructure and a client base have been established, blockchain will begin to play a larger role in these services.

The SAVE Institute works to build SaveToken’s DeFi platform, which links businesses and consumers for an all-in-one financial solution with a reputation system and tokenized contracts.

It also organizes project governance. SaveToken members can submit and vote on proposals for the project, as well as engage with community-run events and organizations. Finally, the SAVE Institute will support and fund local entrepreneurship and provide incentives to partner with SaveToken-related groups for mutual benefits. We wish to slowly decentralize the SAVE Institute gradually as the project progresses.

SAVE Fintech will offer the most competitive interest rates on loans in Brazil upon receiving a fintech license. For this, we will pool together money from investors, who will be paid an annual yield for giving us liquidity. These pooled funds will then be loaned out at a higher interest rate, allowing us to make the difference in interest rates as profit. The advantage of this is very low risk, as any defaults will be covered by the collateral offered. Our team is excited to get started, having many years of experience in the fintech market.

Our DeFi platform is a more long-term project that will be released fully when prior objectives such as completion of necessary infrastructure have been accomplished. It will make revenues through small fees on each transaction as well as for dispute resolution (detailed on our DeFi whitepaper. Fees shall also come from costs to submit community proposals and other interactions with the network. With integrated decentralized systems in place, we will also be able to expand these ideas.