Malta-based fintech startup, Founders Bank, announced today that leading online cryptocurrency exchange, Binance, will be one of the first major investors in the company’s revolutionary new banking project. Founders Bank will be launching the world’s first ‘decentralized, community-owned, and blockchain friendly’ bank in Malta during the first half 2019. The new bank will be part of the full-value blockchain ecosystem in the rapidly growing #BlockchainIsland.
“Founders Bank will become the first stable and high tech banking solution not only focused on founders, but also owned by them, bridging the gap between traditional financial world and innovative crypto companies,” reads the announcement.
Founders Bank will reportedly be offering an initial coin offering (ICO) on Neufund under German regulation in collaboration with one of Europe’s major stock exchanges later this year. Founders Bank is attempting become the first bank owned and ran by the people and considers their ICO to be an opportunity for market participants to become co-owners of the new project.
Upon becoming licensed, Founders Bank will be the first decentralized, community-owned bank in the world. This innovative solution to banking, if successful, might pave the wave the way for a much needed revolution in the traditional banking industry.
Binance Founder and CEO Changpeng Zhao, commented on the company’s new partnership with Founders Bank,
“We are not only excited to be one of the first investors of this inclusive community for this pioneering initiative, but also look forward to explore the full range of its banking services. We continue to be delighted by the vibrant blockchain opportunities in Malta, and look forward to launching more partnerships in the region.”
Founders Bank brands itself as offering top-tier banking solutions for tech and crypto businesses. While the company awaits approval for a banking license, the team behind Founder’s bank is designing a platform that will allow users to access their accounts from mobile and desktop applications. Founder’s Bank will also be issuing debit and credit cards to its clients.
Chairman and Co-Founder at Founders Bank, Michael Bianchi, had this to say about his new company,
“Founders Bank is the missing piece of #BlockchainIsland 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! ”
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