Revolutionizing Financial Services for Emerging Market SMBs: An Introduction to the Tribal Ecosystem
Small and mid-size enterprises (SMEs) are companies with revenues, assets, or staff counts below a predetermined level. The definition of a small and medium-sized enterprise varies from nation to nation. The company’s industry of operation may occasionally be taken into consideration, along with certain size requirements. Small and midsize businesses can be found in practically every sector, although they are more likely to be found in those that have lower labor costs and lower up-front investment requirements. Legal services providers, dentists’ offices, eateries, or pubs are examples of typical SMEs. Since they employ the majority of people in regions like Latin America and the Caribbean, small-and-medium enterprises (SMBs) are crucial to developing market economies. Even though emerging market SMBs are crucial to the economy, they frequently do not have the financial services they require to expand. The International Finance Corporation estimates that there is an annual funding gap for emerging market SMBs of $5.2 trillion.
SMBs frequently pay exorbitant interest rates when they do receive financing. For instance, SMBs in Brazil pay an average interest rate of 21.5%, which is roughly three times more than that of large companies. That paradigm is shifting with Tribal Credit. Tribal’s enterprise payments and finance platform enable SMBs in emerging markets access to the most recent financial technologies by combining the best elements of decentralized finance with traditional finance.
The Tribal Ecosystem
The Tribal financial ecosystem includes; Tribal Cards & Pay, is a toolbox for moving money using omni-rail. Boomerang Rewards, is a rewards scheme based on the blockchain. Tribal Crypto-powered lending, attempting to link borrowers in emerging markets with on-chain financing. These tools work together to produce a best-in-class financial management experience that ignites SMB growth and provides competitive, long-term returns for ecosystem participants.
In the next couple of blogs, we will take a deeper dive into the Tribal Ecosystem. So, stay tuned!
About Tribal token (TRIBL)
TRIBL is the first token created to support the expansion of businesses in underdeveloped markets. It is the currency for the tribal financial system for companies in emerging markets. Tribal is designed for start-ups and expanding SMEs looking for a better way to handle their finances and pay for business costs. You must be a registered business to apply for an account, and the applicant must be a founder or a member of the company’s executive management team. Not all markets may carry tribal products.
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