Binance invests in the establishment of the first decentralized Bank

The crypto currency exchange Binance Finance the creation of a decentralized Bank on the basis of blockchain technology, told Bloomberg the 12th of July.


The world’s first decentralized Bank “Founders Bank” will belong to the owners of the tokens. The Bank is established in Malta, which is known to have a friendly attitude towards cryptocurrencies regulatory measures.

The crypto currency exchange Binance has already invested a 5% stake in the Bank, along with other anchor investors, reports Bloomberg. Future decentralized Bank was previously estimated at $ 155 million.

Investors Bank will receive a “legally significant shareholders” in the company through blockchain platform for funding Neufund, which also this year joined the list working in Malta FINTECH ventures.

Before starting activities, the Bank will have to obtain a banking license from the Malta regulators in accordance with the financial laws of the European Union.

Silvio Schembri, Junior Minister for financial services, digital economy and innovation in the office of the Prime Minister of Malta, said that the government is proud of the fact that they are “honored to be chosen as the location for the first global Bank belonging to the community.”

Last month, the island government adopted three laws on cryptocurrencies and the technologies of the distributed registry, which offer investors a clear and transparent legal environment for the development of the cryptocurrency business in Malta.

Binance first announced the transfer of the head office in Malta in March, and last month the crypto currency exchange has opened on the island Bank account.

In late June, the crypto currency exchange also announced the launch of a platform for exchange between cryptocurrencies and Fiat in Uganda, which in addition to cryptocurrencies will also support the Ugandan shilling.

According to CoinMarketCap, crypto currency exchange is now the second in trading volume in the last 24 hours (923,3 million dollars). In recent weeks, the rivalry between the two largest cryptomeria, Binance and OKEx, has increased markedly.

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