BlocPal is a digital transaction platform that integrates blockchain and payment processing solutions to make financial services more affordable and accessible.
The launch of the OneFeather APP marks a significant milestone in financial inclusion for the Indigenous communities, as the need for Indigenous accessibility in financial services is at the forefront.
With the launch of this digital banking application, Indigenous communities will now have access to banking solutions, digital voting, and First Nations Status Card renewals all in one digital wallet.
Currently, there are approximately two million Indigenous Peoples in Canada, with 15 percent of that population being unbanked.
Furthermore, over 44 percent of Indigenous Peoples live on reserves, making it difficult for them to access traditional financial institutions and services. High transaction fees, administrative layers, and limited transparency are some of the challenges facing the community.
“Our goal at BlocPal is to continue to increase financial inclusivity in the communities who need it most,” said Nick Mellios, CEO of BlocPal. “Having the ability not only to be an investor but a strategic partner with OneFeather has helped attain this goal of affordable banking solutions and has helped increase accessibility for Canadian Indigenous communities.”
The OneFeather digital wallet integrates banking solutions like pre-paid credit/debit cards, deposits, withdrawals, and mass payments to members with OneFeather’s services like digital voting, First Nations Status card renewals, and community engagement.
The OneFeather wallet will also include a digital rewards currency called the OneFeather token. The token will provide incentives based on wallet usage and create a generous program to give back directly to Indigenous Peoples and their families.
The OneFeather token will be the genesis of a true Indigenous endowment – designed specifically for the benefit and wealth of individual Indigenous Peoples that can be used, shared, and managed directly from their OneFeather wallet. The new OneFeather APP will deliver solutions specific to Indigenous needs and help empower members of the broader community.
“The launch of the new OneFeather APP couldn’t come at a better time”, said Lawrence Lewis, CEO and founder of OneFeather. “The Indigenous communities have been at a considerable disadvantage with banking accessibility and its associated costs. Having the ability to use this digital wallet for multiple uses will provide a place for First Nations to launch and run businesses, have control over their finances, and be a part of digital banking options. BlocPal’s strong technology perfectly complements our value proposition resulting in an innovative digital wallet for members of the community”.