Salt Edge and SyFu combine payments and cards to possess the power of spending as NFTs and tokens through open banking.

SyFu, a Web3 lifestyle application integrated into a decentralized network, has collaborated with Salt Edge in a bid to incorporate payments and card data of more than 5,000 banks all over the world. This integration allows customers to digitize real-world spending into digital assets, such as NFTs and tokens, without having to change their native payment systems.

The power of the platform: As a wallet-based, safety-first gaming platform, the FZONE platform will use non-custodial wallets, decentralized identities, and soul-bound tokens to reward users on their spending with secure, on-chain value. With the help of payment and card data collected with Salt Edge, SyFu will be able to do away with manual imports of payment history, thus enabling smooth tracking of cash flow. Users will still spend using their regular credit and debit cards, and it will merely be categorized under NFT growth and token collection on the app.

Open Banking can open the gates to more than just traditional finance, as it is the key allowing for innovative applications such as that of SyFu where payment and card data can be leveraged to drive Web3 experiences. Tomochika Kamiya, a founder of SyFu, said, “Users have a new experience with everyday payment and card use being transformed to a digital asset.”

At present, SyFu is in open beta on the testnet; it is set to launch its open beta on the mainnet soon, which would provide a radical change in how payments and cards interact with the digital economy.