Web3 neobanks are changing the way money moves — heres how

Web3 neobank blends self-custody, stablecoins and DeFi with multicurrency accounts and cards to turn onchain finance into daily money infrastructure.

Sponsored Content

The last decade brought banking into peoples phones. Neobanks such as Revolut and N26 proved that digital onboarding, slick apps and real-time notifications could change how people relate to money. Web3 neobanks introduce the convenience of app-based banking to a world where value moves onchain, across multiple networks and asset types.

The way traditional banking is set up leaves noticeable gaps that put extra strain on everyday users. Cross-border payments can take days and involve several intermediaries. Underbanked users may face limited branch networks or documentation requirements that are hard to meet. Even in mature markets, individuals who work globally or freelance online often manage multiple accounts and cards to keep track of their income and expenses.

At the same time, blockchain adoption continues to grow. The market cap of stablecoins nears $300 billion worldwide, and users treat them as digital dollars that move at internet speed. DeFis total value locked has recovered with the rise of faster, cheaper layer-2 networks.

What defines a Web3 neobank

A Web3 neobank runs on blockchain infrastructure and offers services that resemble a modern bank account. Users can hold balances, save, pay, transfer and spend through cards or local rails. The application is DeFi native, and users control their own keys and assets through self-custody.

Web3 neobanks center on stablecoin and crypto-native balances, so fiat currencies such as USD or EUR appear as tokens that move onchain. Transfers complete in minutes or seconds and cross borders with fewer intermediaries. A single app may support multiple networks and crosschain swaps, and this gives users access to broad liquidity.

Savings, rewards, lending, insurance and yield strategies can plug into a users wallet as DeFi positions. The same interface that handles a card payment can also route a portion of income into a yield-bearing position.

Why is the demand for Web3-native banking growing

People look for assets and platforms that preserve value and keep money mobile. Crypto and stablecoins offer one answer, and a Web3 neobank turns those building blocks into usable day-to-day finance.

Remote workers, creators and traders often earn in one currency, invest in another and spend in a third. They expect global access, 24/7 markets and yield-bearing instruments that connect directly to their wallets. Traditional banks usually focus on local accounts, limited investment menus and office-hour service. Fintech apps close part of this gap, and Web3 platforms extend the possibilities further.

A growing number of projects are trying out ideas, from connecting self-custodial wallets to a Visa card to letting people stake assets while still spending against their crypto as if it were a credit line. Put together, these points toward full-stack Web3 neobanks that handle crypto, stablecoins and traditional currencies as different slices of the same financial life.

A new approach to Web3 neobanking

THORWallet demonstrates what this can look like in practice: a mobile-first, self-custodial app that emerged from the THORChain ecosystem. The project aims to connect three previously separate worlds: a Swiss-regulated multicurrency bank account, a non-custodial Web3 wallet and an integrated DeFi and trading interface.

A fully regulated Swiss bank account with a personal IBAN for each user sits at the core of the project. The account supports CHF, USD, EUR and CNY. THORWallet opens a similar structure to retail users who complete standard KYC checks. This feature helps individuals who need trusted fiat rails across several major currencies to spend their crypto from their mobile phone with a tap.

Source: THORWallet

Once that base is in place, day-to-day payments start to feel straightforward. A globally accepted Mastercard debit card links directly to the users fiat balances. The card supports Apple Pay and Google Pay, and it adapts to the currency that the user spends in. Spending limits of up to $1 million per month cater to power users who operate across borders or run international business activity.

The upcoming e-banking interface adds QR invoice support for formats such as the Swiss QR bill and SEPA QR codes. Users can send and receive IBAN and SEPA transfers to and from third-party accounts, and premium tiers can accept funds from external bank accounts in a way that mirrors professional banking platforms.

On the Web3 side, THORWallet taps into the liquidity of THORChain and other protocols to offer native crosschain swaps. Users can exchange BTC, ETH, SOL, XRP, SUI, XLM and other major assets without wrapping them into synthetic versions or using intermediaries. The application also includes access to liquidity provision, staking and perpetual trading.

Working with Circle gives the system more leeway in how USDC moves across supported networks. USDC balances can move across supported networks such as Ethereum, Arbitrum, Base, Avalanche and Solana without additional bridging fees. This feature reduces friction for individuals who transfer funds between ecosystems and seek a predictable transition from one network to another.

From the wallet that did the first cross-chain swap in space to global partnerships, weve come a long way ????

Peer-to-peer fiat transfers fill in the last missing piece. THORWallet users can send USD, EUR, CHF or CNY to each other instantly inside the app. A group of friends in Berlin can settle a shared expense in minutes. A freelancer in Zurich can receive payment from a client who lives abroad. Family members in different regions can move funds with fewer intermediaries and with near-real-time settlement.

What this model means for the future of money

The Web3 neobanking approach untangles the complexity of blockchain infrastructure and presents it as everyday actions like getting paid, saving or paying a bill. A user downloads an app, completes KYC for the regulated components and then can use a multicurrency bank account, a self-custodial wallet, DeFi strategies, P2P transfers and global card payments from the same place. From a users point of view, onchain and offchain balances begin to feel like the same pot of money.

For individuals, this setup often means having more say over where their money sits, a wider mix of assets to choose from and a simpler way to move funds across borders all of these while retaining custody of their funds. For the broader ecosystem, full-stack Web3 neobanks help connect regulated finance with open networks. They connect cards, IBANs and QR invoices to DApps, liquidity pools and crosschain transfers.

THORWallet is a primary example of how this future could take shape. It shows how a single application can align regulated banking infrastructure with self-custody and DeFi access. As users become more comfortable with digital assets and regulation continues to evolve, Web3 neobanks may become one of the primary routes people use to transfer money between countries.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.