Tribal Token – the first token designed to help emerging market businesses grow. Discover its ecosystem, its characteristics and the direct access to its website.
Tribal token is the native token of the Tribal ecosystem.
Issued by TRBL, Ltd., Tribal Token (TRIBL) is the first token designed to enhance financial services for emerging market businesses, especially small and medium businesses (SMBs).
TRIBL powers a robust financial ecosystem, including tools to help businesses earn exciting rewards, enjoy discounts, and enjoy smoother access to credit.
TRIBL enables powerful utilities for ecosystem participants, such as:
Through Tribal Credit’s Boomerang Rewards program, emerging market businesses can earn robust rewards in TRIBL on their business expenditures.
Through Boomerang Rewards, emerging market businesses can access discounts on service packages and access to additional rewards tiers.
Tribal token, introduction:
Small-and-medium businesses (SMBs) are essential to emerging market economies, employing the majority of workers in markets like Latin America and the Caribbean.
Despite their economic importance, emerging market SMBs are routinely denied the financial services they need to grow.
According to the International Finance Corporation, emerging market SMBs have an unmet need for $5.2 trillion in financing every year.
When SMBs do receive loans, they are often charged sky-high interest rates. In Brazil, for example, SMBs pay an average of 21.5% interest, nearly triple the average interest rate for large businesses.
Tribal Credit is changing that paradigm. Tribal’s enterprise payments and finance platform gives emerging market SMBs access to the latest financial technology, leveraging the best of traditional finance (TradFi) and decentralized finance (DeFi). The Tribal financial ecosystem includes:
- Tribal Cards & Pay, an omni-rail money movement toolkit
- Boomerang Rewards, a blockchain-based rewards program
- Tribal Crypto-powered lending, seeking to connect on-chain capital with emerging market borrowers
Together, these tools create a best-in-class financial management experience, jumpstarting SMB growth and delivering competitive, sustainable yields for ecosystem participants.
Tribal Cards and Pay
Many DeFi protocols are unwieldy, extending crypto loans which borrowers must themselves convert to fiat in order to spend.
The Tribal platform provides a much smoother and more user-powered experience. Via Tribal Cards and Pay, borrowers are offered a comprehensive set of payment rails to spend their credit line, all of which are trackable by Tribal’s robust spend management tools.
This allows borrowers to pay their expenses instantly, anywhere in the world, and gives lenders the confidence that loans are not being misused.
Since its founding in 2019, Tribal Credit has processed more than $400M in Gross Transaction Volume, while maintaining minimal credit losses and delinquencies.
This platform offers corporate Visa® charge cards, enabling secure SMB expenditures at 100 million merchant locations worldwide. Tribal enables both physical and virtual cards, with issuance and card controls handled via a unified spend management platform. Tribal’s AI-driven underwriting process enables fast credit decisions, with virtual cards issuable instantly upon approval. This cards are interest free, and SMBs can create as many virtual cards as they need, including single-use cards.
It is Tribal’s global money transfer tool for cardless payments to merchants, suppliers and employees. Tribal Pay helps enterprises move their money wherever it needs to go, permitting expenditures along both global and domestic fiat rails, including:
- Swift: Wire transfers to 187 countries
- SPEI®: Mexico’s real-time electronic funds transfer network
- Other local payments: Instant and same-day local payments to 37 countries including: U.S., Eurozone, India, UK, and Hong Kong
Tribal Pay also enables frictionless, low-cost cross-border transfers via blockchain rails:
– Stellar USDC: B2B payments in USDC on the Stellar blockchain
Tribal borrowers can also use their approved credit lines to make payroll payments. The Tribal platform enables bulk payments, allowing borrowers to upload their payroll list and issue payments to all of their employees along any of Tribal’s payment rails.
Tribal Credit is a pioneer in connecting on-chain capital with high-quality, off-chain borrowers with low collateral requirements. In January 2022, Tribal raised a $40mn hybrid debt round, including $20mn in USDC from the Stellar Development Foundation. Tribal is continually exploring new ways to leverage the power of DeFi to enhance access to credit.
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