Frequently Asked Questions
What is ARYZE?
ARYZE is a Danish financial services company that is building an agile financial platform hosting Digital Cash and multiple fintech products. We are committed to establishing an efficient, transparent, and innovative payments system, while focusing on improving financial inclusion. For more information, see here.
How will businesses use ARYZE’s service?
When handling money, businesses often face significant fees, especially when making international payments. ARYZE’s business services will enable businesses of all sizes to transparently manage cash and oversee their different currency accounts. This includes managing their available funds, incoming and outgoing payments, exchange rates, and business intelligence tools that improve the experience of running a business.
How are ARYZE’s Stablecoins backed?
In our ecosystem, Digital Cash is a representative of existing sovereign currencies. Each Digital Cash currency in our system is backed one-to-one with a deposit in the central bank that initially issued it.
What does RYZEnet do?
RYZEnet is the network of trust that keeps an overview of transactions in our system. Approved and known partners can function as validators for the network. RYZEnet is a safe and transparent distributed ledger that ensures interaction between our partners, users and the outside world.
What makes ARYZE’s Digital Cash safer than others already in the market?
Our Digital Cash currencies are backed by a full-reserve banking model. This means that unlike standard banks, where your money can be lent to other customers at your risk, we will never lend out your money. Our Digital Cash currencies are fully redeemable at any time, and the money is placed safely in the central bank that issued it – the only place its value is guaranteed.
Where are the headquarters of ARYZE?
ARYZE is headquartered in the center of Copenhagen, Denmark.
Where does my money go when I add it to my account?
When you deposit money into your account, we keep the money safe by depositing it back into the central bank where it was issued. Instead of putting your money into a bank that could potentially collapse, ARYZE places it where its value is always guaranteed – even if ARYZE itself ceases to exist.
What makes transferring money with ARYZE easier than with other money transfer apps?
We are all about a transparent, safe, efficient and customizable process. It is free to send money through ARYZE, and our exchange rates are some of the fairest you can receive. Since you can hold and send multiple currencies, sending, receiving and spending money abroad is easier than ever. Further, due to the modularity of our app, you can hold and use all of your payment services within our app, from loyalty cards to instant payment add-ons to budgeting tools. This means you can transact seamlessly with people outside of our services as well as within.
Who is eligible to use ARYZE’s services?
Almost everyone in the world can access ARYZE’s services, so long as they have a smartphone. One of the main reasons that two billion people remain unbanked is because they do not have identification accepted by most existing banks. Instead of partnering with an external bank, ARYZE will become one, allowing us to set more flexible identification requirements while still meeting the KYC requirements of national authorities. Depending on the type of identification provided, ARYZE will offer customers different tiers of financial services to maintain security while offering basic access to nearly everyone worldwide. We will use locally placed governments, NGOs and businesses to identify and onboard as many people as possible into our base level financial offerings, and will provide opportunities for customers to further prove their identity to access higher-level services.
How many services does ARYZE offer?
ARYZE offers services for individuals, businesses, corporations and public entities. For individual retail users, we have our application called MAMA – or Multi-Asset Modular Application. For businesses and corporations, we have a larger suite of cloud-based services and APIs that create a trustworthy, efficient and safe money management experience.
How can I create an account?
After downloading the app and going through our simple Know-Your-Customer processes, users can sign into MAMA and get started. This allows us to provide the best possible experience.
What does MAMA do?
Our MAMA (Multi-Asset Modular Application) mobile app for iOs and Android is customisable, interoperable, cheap, fast, and accessible to everyone with a smartphone. MAMA allows users to store their currencies in different accounts – this is the multi-asset part of the application. Through our built-in modules market, the app can be tailored to your specific needs. In-app, users can activate and use a huge variety of features, from reward and loyalty cards, to trade and foreign exchange systems, to donation and aid features, to payroll software. This is the modularity of the application, giving each user a unique, tailor-made purchasing experience. MAMA mobile can connect to banking rails such as SEPA and IBAN, and to public blockchains like Ethereum, making it the most interoperable system ever.
Is there a fee to use ARYZE’s services?
There are no transaction fees on our platform, and it is free for individuals to sign up. Businesses will pay a subscription fee to use our expanded online platform for account management. There is also a mid-market FX spread when transferring across currencies.
How do I add money to my account?
You can add money to your account by bank transfer, debit card transaction, or by receiving money from another ARYZE user. In the future, users will be able to add physical cash to their account by making a deposit through a trusted partner in our user network and receiving Digital Cash directly into your account.
Is MAMA only a mobile platform?
MAMA is available both as a mobile platform and also as a web-based dashboard.
How will customers use ARYZE’s service?
MAMA users will be able to hold, send and receive their Digital Cash in our application. It is like a digital bank account, where you can safely save, spend and send money without transaction fees. You will be able to spend your money either through the application itself, or through a top-up debit card that you link to your account.