Binance Will Help Create New Type of Bank in Malta

Malta to Welcome A Revolutionary “Founders Bank” Courtesy of Binance

Malta to Welcome A Revolutionary “Founders Bank” Courtesy of Binance

The bank will operate from the island of Malta, where Binance recently moved to. Founders Bank will conduct an offering through the blockchain-based equity fundraising platform Neufund and issue its own legally-binding equity tokens with Binance as the world's largest crypto exchange as the first and major investors in the company.

In essence, the new bank represents an effort to bridge the crypto industry with conventional banking.

Binance will open a decentralised bank in Malta after receiving a banking license from the Maltese authorities, and it should launch in early 2019 through an Equity Token Offering that will be made through Neufund's platform later in 2018.

Binance CEO, Changpeng Zhao said last week that the company is expecting profit between $500 million to $1 billion.

England v Belgium - Preview and possible lineups
England's encouraging World Cup performance ended with successive defeats as Belgium claimed third spot in Russian Federation . But, the Red Devils' run came to a grinding halt against France, who beat them 1-0 in the semi-finals earlier this week.

The team appointed to look after this bank is fairly strong and experienced.

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. We welcome Founders Bank with the utmost excitement and hope that their fintech solutions will attract even more world-class companies to our #BlockchainIsland. 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! " said Mr Michael Bianchi, Chairman and Co-founder at Founders Bank. "We continue to be delighted by the vibrant blockchain opportunities in Malta and look forward to launching more partnerships in the region", he said. The way the offering is designed, all participants in the initial offering will become co-owners of the bank, making it the first real community-owned bank. Among other things, the acts make ICOs safer for investors, established the Malta Digital Innovation Authority, and provided certification guidelines for tech providers. However, the bank ownership comes with a slight twist in that it will be fully owned by the investors in the cryptocurrency industry. In a statement, Binance praised the laws, saying that they foster a welcoming environment and remove regulatory grey areas in the Maltese digital assets space.

Binance, Crypto Traders to Launch a Lender in MaltaThe little island nation, person in europe, is competing with locations want Gibraltar and Switzerland for the interest of crypto businesses from all over the world. The DLT / blockchain bills approved by the Malta's Parliament on the 4th of July cleared numerous uncertainties surrounding the market for decentralized assets, while also establishing direct communications with blockchain leaders. Let us know in the comments section below. The author or the publication does not hold any responsibility for your personal financial loss.

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