Oslo-based Reltime AS has been honoured with the esteemed Nordic Innovation Award in the category of “Best AI and Web3.0 Fintech.” The winners were announced on May 24, 2023, at the Iceland Innovation Week in Reykjavik, where top contenders from 12 award categories across the Nordic countries gathered. The Nordic Innovation Award has been recognizing and celebrating outstanding achievements and their impacts since 2012.
In the fiercely competitive “Web3.0 and AI” category, the jury sought a fintech that had developed a global Web3 platform incorporating decentralization, blockchain, and AI based technology to drive token-based economics. The winner was expected to also offer credible solutions for data security, scalability, privacy using innovative technologies such as Smart contracts, Web3, Blockchain, Non-Custodian wallets, Tokenization, NFTs, and AI/Machine Learning.
Upon receiving this prestigious accolade, Frode van der Laak, Co-Founder & CEO of Reltime, expressed his pride and gratitude, stating, “This is an incredibly proud moment for all Reltimers. I extend my sincere thanks to our Co-Founder, team, investors, partners, and customers for their unwavering trust in our mission to democratize, globalize, simplify, and modernize digitization and financial services. Just last week, we confirmed the ground-breaking launch of our Wrapped FIAT and Central Bank Digital Currency (CBDC) services, empowering customers to create and mint digital ‘wrapped’ FIAT currencies in all major denominations, while enabling governments to establish their own CBDCs.”
Reltime has successfully integrated a unique Identity solution that allows users to execute payments using mobile phone numbers, email addresses, wallet addresses, or QR codes, ensuring settlements within three seconds. For merchants, Reltime offers a dedicated application enabling them to accept digital payments both online and in physical stores, supporting various currency formats, including digital fiat, cryptocurrencies, stablecoins, and CBDCs.
Reltime’s Proof of Deposit introduces a novel capability compared to traditional and costly On- and Off-Ramp methods.
Recognizing the growing importance of non-custodian wallets in the face of increasing regulatory challenges associated with centralized blockchains, Reltime remains committed to providing users with security, control, and robust compliance measures such as KYC, AML, and traceability.