Binance invested in the creation of the world’s first decentralized Bank in Malta
Binance will help to open Malta Bank Founders Bank, the owners of which will be a cryptocurrency investors. The exchange will hold a 5% stake in the new Bank, previously estimated at 133 million euros ($155 million). The representatives of the Binance told Bloomberg.
Last week the head of the exchange Chanpen Zhao said that in 2018 the platform relies on income from $500 million to $1 billion According to Zhao, the new Bank will serve as a bridge linking industry digital money with the traditional banking sector.
Representatives of the Binance and other investors in Maltese see the startup as the world's first decentralized Bank, owned by the community of users. However, the partners still have to get a license from the government of Malta from outside the EU and approval by the European Central Bank.
The ICO Founders Bank to be held using the platform Neufund: she will release licenzirovanie securities.
11 Jul Binance has published a review of the parliamentary Vice-Minister for financial services, digital economy and technological development in the office of the Prime Minister of Malta Silvio Schembri, who said:
For us, it is an honor to our jurisdiction the world's first Bank, owned by community investors.
Representatives of the exchange also announced, without indicating the exact time that the sale licenzirovanie securities will be held later this year in accordance with German law and in cooperation with one of the largest European stock exchanges.
A week ago the Maltese authorities published the three laws, designed to bring blockchain projects. Representatives Binance commented on the appearance of laws, noting that the documents "provide a fertile ground for the blockchain-companies and remove uncertainty in the market of decentralized assets".