SyFu Launches Global Payment Data Integration with Salt Edge

On August 19, SyFu announced a partnership with Salt Edge, a world-leading open banking platform headquartered in Ontario, Canada.

SyFu, a DePIN (Decentralized Physical Infrastructure Network) project that utilizes payment data, has formed a strategic partnership with Salt Edge Inc. (Headquarters: Ottawa, Ontario, Canada), a global leader in open banking platforms. This collaboration will enable the seamless integration of credit and debit card payment data from over 5,000 banks in 50 countries worldwide into the SyFu application. This will offer users a new experience where their consumption habits are transformed into digital assets in real time.

Connecting Payment Data from Across the Globe to GameFi

Salt Edge is a global leader in the European open banking sector. It is fully compliant with European financial regulations (PSD2) and provides API connections with the highest level of security, including ISO 27001 and PCI DSS.

Through this partnership, SyFu will leverage Salt Edge’s technology to automatically and seamlessly retrieve users’ credit and debit card payment data. Bank account information will not be accessed, and users will be able to directly convert their daily consumption data into GameFi without any special settings or changes to their payment methods. This partnership provides SyFu with the technical capability to support over 5,000 bank cards in more than 50 countries, primarily in Europe. A list of countries and banks that will be supported in future application integrations can be found on the following page:

▶ For a list of supported countries and banks, please visit: https://ginkan.notion.site/coverage

Note: The list of supported countries and banks will continue to be expanded. Please be aware that some countries and banks may not be supported due to technical or regulatory reasons, and the list will be updated from time to time.

Advantages of the Partnership

Automatic Import of Payment Data: Breaking Down Barriers to SyFu GameFi

The biggest hurdle in using SyFu GameFi was the automatic integration of payment data, but this issue will be resolved through the partnership with Salt Edge. Users can continue to make purchases with their cards as they have in the past, earning NFTs and tokens, which will significantly improve the user experience and lower entry barriers for new users.

Accelerating Global Expansion and Developing New Possibilities for Web3 Marketing

The global collaboration on payment data will enable the implementation of NFT-based loyalty programs, proof of purchase, and brand collaborations across borders. Furthermore, partnerships with businesses will allow for participant-based marketing rooted in “real consumption,” and SyFu will accelerate its global strategies in the Web3 era where the real and digital worlds merge.

Visible Growth in DePIN Infrastructure

SyFu aims to create a DePIN that “visualizes daily consumption data on the blockchain.” Through this partnership, payment data will be networked on a global scale, greatly increasing the reliability and value of SyFu’s DePIN and further strengthening its position as a Web3 infrastructure.

PSD2 Compliance and Security

Salt Edge is officially authorized by the UK Financial Conduct Authority (FCA), which allows SyFu to expand globally quickly and securely without the obligation to comply with new regulations in each country.

Future Plans

Following its collaboration with Forward ME, SyFu will gradually expand the inclusion of payment data into its system worldwide, starting from the EU. This will herald a new era where daily payment behaviors are recognized as a universal economic contribution for users.

This partnership is a pioneering example of applying Open Banking APIs to the Web3 entertainment and gaming sectors. By linking consumption data with NFTs, SyFu introduces innovation to the convergence of FinTech and Web3, offering a new model for leveraging real-world behavior.

SyFu aims to add new value to previously unused payment data and create a society where consumption history is recognized as an individual’s “contribution.” Through its collaboration with Salt Edge, SyFu will continue to increase the number of supported countries and card brands, creating an environment where more users can participate in the Web3 ecosystem through their “daily payments.”

Virgiliu Bodrug, Open Banking Solutions Expert at Salt Edge:

“Open banking opens up a wide range of possibilities beyond traditional asset management. We are extremely excited to see creative and innovative use cases like SyFu, where payment data becomes a gateway to an immersive Web3 experience. This partnership is a prime example of how fintech infrastructure can support a brand new digital economy.”

Tomochika Kamiya, Founder of SyFu:

“Our partnership with Salt Edge is a significant step towards SyFu’s vision of ‘turning consumption into assets.’ Now, users can enjoy a new experience where their daily spending is visualized as an economic contribution and transformed into digital assets, all without changing their usual payment methods. Through this collaboration, we will create a new value cycle on a global scale that merges Web3 with the real economy.”

About Salt Edge

Salt Edge is a financial API platform that provides PSD2 and open banking-compliant solutions for businesses of all sizes. The company’s main activities are twofold: first, providing an integrated gateway for third parties to access bank channels, and second, developing the technology required for banks to comply with the PSD2 directive. The company holds ISO 27001 certification and an AISP (Account Information Service Provider) license under PSD2, applying the most stringent international security standards. This ensures stable and reliable connections between financial institutions and their customers.

About SyFu

SyFu is a DePIN (Decentralized Physical Infrastructure Network) project that uses payment data and a Web3 lifestyle application that digitizes payment data. Users can earn NFTs and tokens by treating their daily payment and consumption activities like a game. The payment data accumulated through this mechanism functions as a universal credential that verifies an individual’s consumption history, forming a DePIN. The project is currently operating on a testnet in a beta version and plans to release an open beta on the mainnet in the near future. In particular, the MANEKINEKO NFT acts as a “gateway” that turns consumption history into a digital asset. The service’s main attraction is a mechanism where the NFT grows and earns more tokens and NFTs as the user’s real-world spending increases.