Pebble Launches Financial Product with Every Feature That Banks Couldn’t Give You

NEW YORK, NY / ACCESSWIRE / May 2022 / Today, Pebble is igniting "The Money Revolution" by launching the first product that pays you to save, spend, and send your money-all in one balance. They're here to turn banking on its head with a new financial system designed to keep up with the world we live in today.

All around us, technology has rapidly transformed the way we live. It's brought innovation to entertainment, transportation, commerce and beyond. Yet banking has had no significant innovations since the 1970s.

The consequences? Well, the immediate needs we have no longer fit what banking was originally designed for.

Inflation just hit an all time high and stock markets have taken a downturn. The prices of basic products, like toiletries and food, are now rising faster than ever before. That same $2,000 paycheck you got last year isn't buying you the same amount of goods this year.

Unfortunately, that's the world we live in today. Yet checking accounts are only paying an average of 0.04% APY. Credit cards only reward an average of 1% in cash back. Banks still charge you a fee to wire money to your biller. Now more than ever, you and your money need to escape this blatantly outdated financial system.

Pebble's unveiling of their all-in-one personal finance app comes right when people need it most. "Our mission is straightforward," says co-founder and CEO Aaron Bai, "upend the crumbling foundations of banking, so people can finally take back control of their money."

Through Pebble, you can earn 5% APY on your cash with no account requirements. And in just a few months, they've partnered with 55 merchants to reward you unlimited 5% cash back at Uber, Amazon, Adidas, Chipotle, Southwest, and more. Compared to these rates, your current bank's checking account is leaving your money to rot. So how are these rewards even possible?

Instead of relying on outdated lending structures, Pebble lends money to highly regulated financial institutions in the form of US dollar denominated blockchain-based currencies called USDC. This business model is agnostic to market volatilities, because one USDC is backed by one US dollar equivalent in the reserve - managed by Circle and BlackRock. According to co-founder and CTO Sahil Phadnis, "because USDC technology is more efficient than traditional rails, institutions are willing to reward us with the best rates to access them." The result? Just by taking the financial actions you already take everyday, your money will grow like you've never seen before.

This company is taking their innovative approach to every aspect of personal finance. You can seamlessly pay, track, and manage your bills (just by snapping a picture of it)-all on their mobile platform. They've collaborated with Mastercard to issue you a debit card with full budgeting controls. They support payroll connections so you can fully take advantage of their ecosystem. And they do all this without charging you a single cent in fees.

Lastly, you can accumulate the app's loyalty points for everything you do, aptly named Pebbles. While the company has not yet provided much information on what these Pebbles can do, a blog on their website claims that they are "the key to aligning the incentives of our team, investors, partners, merchants, and you to build the new global economy together."

The more you learn about your bank's unjust practices, low rewards, and outright lack of care, the quicker you realize you need to move your money out of the old financial system.There's no doubt that Pebble is finally providing a solution for these woes. And it seems like some of the biggest names in the world of finance and technology have caught on to this as well.

Pebble has attracted legendary investors like Y Combinator, Lightshed Ventures, Eniac Ventures, Global Founders Capital, Montage Ventures, and Soma Capital - along with NFL superstar Odell Beckham Jr., lead singer of Muse Matthew Bellamy, CEO of Alt Leore Avidar, and CEO of Quantstamp Richard Ma.

With a great product, strong investors, an experienced team, and a growing community around the company-it will be no surprise when Pebble truly succeeds in turning banking on its head.

Company: Pebble
Email: aaron@pebble.us
Phone: (909) 573-2998
Website: https://www.pebble.us

SOURCE: Pebble