Binance, the world's second-largest cryptocurrency exchange by daily volume, announced an investment in Founders Bank, a decentralized banking platform based in Malta.
Binance's Founders Bank investment announced in a June 12, 2018 press release, will see the world's first decentralized, community-owned bank open in Malta.
An offering conducted via blockchain-based equity fundraising platform Neufund will allow Founders bank to issue legally-binding equity tokens under German regulation.
The core goal of the Founders Bank platform, outlined in a Medium post, focuses on serving blockchain tech and crypto businesses, providing users with services such as mobile and desktop banking.
The Founders Bank equity token fundraising model will be managed by Neufund, a Berlin-based investment protocol that adopts a hybridized stance on securities tokenization and issuance.
Interestingly, Founders Bank also plans to directly issue credit cards with Malta-based banking licensing currently pending approval.
"Founders Bank is the missing piece of Blockchain Island on Malta. We are proud to announce our progressive banking solutions tailored for the needs of decentralised companies, with already existing support from the leaders of the blockchain industry, including Binance and Neufund. I am excited about the upcoming equity token offering when everyone will be able to become the co-owner of the company and shape the future of banking with us".
In addition to Bianchi, the Founders Bank supervisory board will include D.r Abdalla Kablan, Martin Bruncko, André Eggert, Pavel Bodark, Sonal Kadchha, Paula Pandolfino, bringing together collective experience drawn from finance industry juggernauts such as JP Morgan, Deutsche Bank, the European Commission, the World Bank, Deloitte, and the OECD.I am delighted to see #BlockchainIsland companies collaborate.
Binance's announcement of support for the Founders Bank follows the passing of several pro-blockchain bills into Maltese law, firmly establishing the island as a fintech and blockchain development hub.
The Founders Bank platform is anticipated to launch in the first half of 2019, with the Neufund-managed equity token offering later in 2018.
Binance Backs World's First Decentralized Bank in Malta
에 게시 됨 Jul 13, 2018
by Cryptoslate | 에 게시 됨 Coinage
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