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Frequently Asked Questions

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What is Bynet, and how does it bridge traditional and decentralized finance?

Bynet is a B2B fintech platform that connects traditional financial institutions with the innovative world of decentralized finance (DeFi). We provide blockchain-based solutions such as stablecoins and instant remittances to enable businesses to operate more efficiently, cost-effectively, and with enhanced security.


How do Bynet's stablecoins work, and how are they pegged to fiat currencies?

Our stablecoins are digital currencies designed for businesses, pegged 1:1 to fiat currencies. They offer stability in transactions by being backed by verifiable reserves. Bynet ensures each stablecoin issued is fully backed, maintaining transparency and trust for our B2B clients.


What makes Bynet's remittance services different from traditional remittance methods?

Unlike traditional methods, Bynet’s remittance services for businesses leverage blockchain for real-time, cost-effective international payments. Our platform bypasses the complexities and fees associated with conventional banking systems, providing a streamlined solution for global transactions.


Is Bynet regulated, and how does it comply with financial laws?

Yes, Bynet operates with strict adherence to financial regulations relevant to our B2B clients. We ensure compliance with international standards, including KYC and AML regulations, to provide a secure and legal environment for business transactions.


How can I start using Bynet?

To begin using Bynet’s services, we invite interested businesses to contact our sales team. Our experts will work with you to understand your needs, discuss integration options, and tailor our solutions to fit your business requirements.


What fees does Bynet charge for transactions?

Bynet offers competitive, transparent pricing tailored to the needs of our business clients. Transaction fees are structured to provide cost savings compared to traditional financial services, with specific rates discussed during the sales consultation.


What security measures does Bynet implement to protect users' funds and data?

We employ industry-leading security protocols, including encryption, secure storage, and regular audits, to protect the digital assets and sensitive data of our business clients. Bynet commits to the highest security standards for all transactions and information.


Can I use Bynet for business or commercial purposes?

Bynet is specifically designed for businesses and commercial use, offering solutions that integrate with your existing financial operations. From payment processing to accessing DeFi markets, our platform is built to support the diverse financial needs of businesses.


What countries and currencies does Bynet support?

Bynet supports a variety of countries and major fiat currencies, focusing on providing businesses with the tools needed for global commerce. Detailed information on our geographic and currency coverage is available through our sales team.


How fast are transactions processed on Bynet?

Bynet processes transactions nearly instantaneously, leveraging blockchain technology to facilitate quick and efficient payments and currency conversions for businesses, enhancing operational efficiency.


What is DeFi, and how can my business engage with DeFi products through Bynet?

DeFi offers financial services on the blockchain, removing intermediaries. Bynet enables businesses to safely explore and integrate DeFi products such as lending, borrowing, and yield farming, enhancing their financial operations with blockchain innovation.


How does Bynet ensure the accuracy of its proof of reserves?

Bynet utilizes our proprietary tool, Proof of Reserves, which leverages Account Information Service Provider (AISP) capabilities under PSD2 regulations. This innovative approach allows us to provide real-time, transparent verification of our stablecoins being fully backed by fiat reserves. By integrating AISP functionalities, we offer an enhanced level of transparency and trust, ensuring that our business clients can confidently rely on the stability and integrity of our digital currency solutions. Our commitment to accuracy and transparency in reserves is fundamental to our operations, and detailed reports are readily available to our clients upon request.


What customer support options does Bynet offer?

Bynet offers dedicated B2B customer support, including account management, technical assistance, and operational guidance to ensure seamless integration and use of our platform.


Can my business withdraw funds to a traditional bank account?

Yes, Bynet facilitates the conversion of digital assets to fiat currency, enabling businesses to withdraw funds to their bank accounts efficiently, supporting seamless financial management.


How does Bynet contribute to the broader blockchain and financial technology community?

Bynet is committed to driving forward the fintech and blockchain sectors, engaging in partnerships, innovation, and community initiatives to support the growth and development of financial technologies for businesses.

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