Scallop

Scallop is a next-generation fintech ecosystem that bridges the gap between traditional banking and decentralized finance (DeFi). With regulatory licensing across the EU and Canada, Scallop offers users a unified platform to manage fiat and cryptocurrency assets through integrated wallets, IBAN accounts, debit cards, and a growing suite of DeFi tools. At the core of its expansion lies the development of Scallop Chain, an EVM-compatible, Cosmos-based blockchain infrastructure designed to support compliant, scalable financial operations on-chain.

Platform Features

Regulated Hybrid Accounts

Scallop provides users with regulated fiat accounts, including Euro IBANs, alongside custodial and non-custodial crypto wallets. This hybrid model enables seamless conversion between fiat and crypto, with integrated support for SWIFT, SEPA, and real-time asset management.

Scallop Debit Card

Users can spend both fiat and crypto through Scallop's Visa-powered debit card. Linked directly to Scallop’s multi-currency wallets, the card enables real-world payments with dynamic asset selection and competitive exchange rates.

DeFi Integration and Yield Products

The platform offers access to lending, borrowing, and staking opportunities across multiple chains. Scallop Lend, in particular, integrates with protocols on Sui, Ethereum, and BSC, enabling decentralized earning while maintaining user custody.

NFT and Marketplace Support

Scallop includes a native NFT marketplace with cross-chain minting and trading capabilities. Verified creators can onboard collections while benefiting from Scallop’s compliance and user authentication standards.

Blockchain Infrastructure

Scallop Chain

Scallop is developing its own Layer 1 blockchain built on Cosmos SDK, with full EVM compatibility and sub-three-second block finality. The chain incorporates on-chain KYC/AML, biometric IBAN issuance, and a compliant bridge framework. It is designed to enable enterprise adoption, cross-chain token settlement, and regulatory-grade auditing on-chain.

Governance and Token Utility

SCLP Token

The native utility token, SCLP, powers Scallop’s on-chain services and incentivizes network activity.

• Fee Payments: Used to pay transaction and service fees

• Staking and Rewards: Access to yield generation and reduced fees

• Governance Participation: Token holders can propose and vote on key protocol upgrades and chain-level decisions

Token Distribution

• Max Supply: 100,000,000 SCLP

• Circulating Supply: ~41,000,000 (as of 2025)

• Utility Scope: On-chain services, lending incentives, staking, compliance fees

Compliance and Regulation

Scallop operates under virtual asset service licenses (VASPs) and has established partnerships with regulatory banking providers across Europe and North America. The platform is committed to global financial compliance, including:

• AML/CTF standards

• FATF and MiCA alignment

• Real-time monitoring and reporting integrations

• Custodial insurance partnerships for select fiat deposits