NRTs, NEO Swap & NEO X (12/12/22)
NEO News - December 12th, 2022
The token utility - and gas token - NEO Credit (NRTs) was created for use in the NEO ecosystem and is mainly on NEO Dash and NEO X. Holders of NRT tokens will have the possibility to pay for services (token utility) and transaction fees (Gas token) and will benefit from exclusive advantages, such as additional reductions on certain transaction fees.
As planned in our Road Map, from the first quarter of 2023 My NEO Group will start activating services for which it will be possible to use NRTs as a means of payment.
The activation will be done gradually, throughout the year 2023, in order to be able to offer our members and users products and services that are always useful and at competitive prices while always remaining sustainable.
First of all, from the first quarter of 2023, My NEO Group will activate the Crypto Card Visa service, and will allow NRT holders to be able to pay up to 50% of transaction fees* and 100% for services** in NRTs.
*Crypto exchange, crypto withdraw…
**Issuing virtual card, monthly maintenance fees…
SERVICE | PRICE | Percentage payable in NRT |
IBAN issuing | €0,50 | 50% |
SEPA incoming and outgoing per transaction | €1 | 50% |
Plastic card issuing | €10 | 50% |
Virtual card issuing | €1 | 40% |
Payment Fee per Authorization | €0,30 | N/A |
Foreign Exchange Fees per transaction amount | FREE | N/A |
Fee per ATM balance inquiry | €0,50 | N/A |
Digital Asset Custody per assets under management monthly | 0,8% | 50% |
Digital Asset Withdrawal per amount withdrawn | 0,30% | 50% |
Cryptocurrency trading | 0,30% | 50% |
Lightning Network deposit/withdrawal | 1,7% | 30% |
Monthly fee per 1 IBAN and 1 card | €3 | 50% |
PIN by SMS per request | €0,20 | N/A |
PIN code change request per request | €0,50 | N/A |
Notification by SMS per notification | €0,20 | N/A |
As indicated above, the various services and fees payable in NRTs will be gradually activated throughout 2023, such as NEO Education, NEO Trade etc.., with the objective of making all services and products 100% payable in NRTs while maintaining ultra-competitive rates.
During the first semester of 2023, My NEO Group will also activate the NEO Swap service, which will allow NEO Circle members who hold NRTs to make their NRTs available to the NEO Dash and NEO X user community. And thus be able to exchange their NRTs for NEO Fix.
Saturday December 10, 2022 the beta version of NEO X was successfully launched, in 48 hours we have already received more than 700 requests to become "beta tester" for the iOS version and more than 100 users of the Android beta version. Our goal is to have a stable version 1 of NEO X by first trimester 2023, with a NEO X user community of over 200,000 by December 2023.
NEO X has been designed to allow the creation of a "bridge" between traditional finance (FinTech) and the world of cryptos as well as access to the App's that we use every day, accessible in a single "Super App “, while offering exclusive benefits such as CashBack (FIAT and NRTs), competitive rates and significant discounts on several services. In the Beta 1 version of NEO X around fifty apps were implemented as well as some assets from My NEO Group, such as NEO Wallet, NEO Exchange, NEO Sentiment, NEO Travel, etc..
My NEO Group works actively to offer constant updates of NEO X and always add more interesting services and products for our community of users.