Bread is a venture-backed company and is building the world's largest global decentralized bank.

Bread is currently a fully decentralized wallet app, available on both iOS and Android. Today, it has over 700,000 customers in 140+ countries around the globe and Bread has been generating revenues since early 2017.

Bread, now, aims evolve from a a cryptocurrency wallet into a decentralized bank. So how does it aim to achieve this?

At the core, Bread offers standard wallet capabilities, which have always been, and will always be, free. This allows users to receive, store, and send cryptocurrencies to anyone, anywhere in the world, at any time.

Outside of simply managing cryptocurrencies, Bread aims to offer financial services as a full features banking platform. Currently in the US, the users are able to buy bitcoin through their Bread app and this will soon be extended to other countries. In addition, Bread will enable various features as outline in the below diagram. On the app, users will be able to receive their salary in cryptocurrecy, pay for utility bills, access peer to peer lending among other functions.

These are all provided through partnerships with third-party financial services and allowing users to access them directly on Bread's platform. By seeking out quality services that already exist and operate legally in each jurisdiction, Bread is able to offer additional services efficiently, rather than spending time and money to set up its own financial services.

To create more value for our users, increase user growth, and support the development of Bread’s global financial platform, Bread is launching the first-ever loyalty rewards program offered by a cryptocurrency wallet built around the Bread token.

Users can utilize the tokens to unlock special perks and discounts in the Bread app as it continues to to use a freemium model; while the core wallet capabilities are free to use, while others are accessible for a fee.

For example, if a user is purchasing an amount of bitcoin through Bread which incurs a $5 USD service fee, the user can elect to pay the regular fee using USD. Or they can use BRD tokens to pay for the fee and, only have to pay $3 worth of BRD tokens.

Early access to token crowd sales, early access to new features, special in-app content, or other perks will be accessible only those who hold a certain amount of BRD.

Moreover, as part of the loyalty rewards program, the users will be able to earn Bread tokens through various promotions which are designed to increase user adoption or otherwise offer value to Bread.