Cyclos is an alternative payment system that enables peer-to-peer transactions without the need for a central bank or other financial institution. It is unique because it runs on its own currency, not tied to any other currency or commodity. This makes it ideal for use in areas where traditional banking systems are not accessible or reliable. Cyclos is also designed to be user-friendly, emphasizing simplicity and security.
The system was developed in 2002 by the Social Trade Organization (STRO), a Dutch non-profit organization. It supports various transactions, including lending, borrowing, bartering, and donations. Businesses, organizations, and individuals can all use Cyclos.
Cyclos is a payment platform that helps companies save money on transaction fees and provides tools for businesses to manage their finances. Cyclos is used by various banks in Africa, Indonesia and Bangladesh, where more than 4.5 million people have an account. Brazil’s biggest barter Tradaq and the famous C3 Sardex (listed FT 1000) both use Cyclos too.
Moreover, Cyclos is a social enterprise, meaning it reinvests profits into social programs that benefit the community. This makes them an attractive partner for companies that want to impact the world positively. In addition, Cyclos is committed to transparency and works with partners to ensure transactions are fair and transparent.
Marviq shares the same values and has partnered with Cyclos to use the software on meaningful projects that help local communities thrive.
Do you have a payment or banking-related app idea? Then contact us here at Marviq. One of our specialties as a software development house is finance (such as this project we developed for Wealth Management Partners recently). Together with Cyclos, we can create a bespoke solution for your needs, be it alternative payments, banking, or other financial software. Our developers have extensive experience in the Cyclos environment, so you can be sure that we will deliver your project quickly and error-free.
We’re looking forward to hearing your ideas!
Cyclos is an open-source banking software application that enables users to make transactions and manage their finances without needing a traditional bank. Created in 2002 by a Dutch non-profit, it reinvests profits into social programs that benefit the community.