Binance Exchange Sponsors Malta’s First Decentralized BankOne …

Binance Sponsors Malta’s First Decentralized Bank

One of largest exchanges cryptocurrencies Binance entered in number investors, providing funding for decentralized bank, which the will be launched in Malta.

Binance confirmed it invested 5%, Bloomberg reports share at Founders Bank at pre-investment appraisal of € 133 million.

Founders Bank will be use technology-based systems blockchain and will unite its efforts with fundraising platform Neufund to issue its own “legally binding” equity tokens, Binance told.

Founders Bank calculates receive European license, To have possibility officially provide banking services. If he will succeed this to do, is he will become “the world’s first decentralized community-owned bank.” Bank owners will be appear everything holders him tokens.

Binance Exchange Sponsors Malta's First Decentralized BankOne ...

Commenting on this news, CEO Binance wrote on Twitter: “Malta is where traditional finance and blockchain finance meet. Much can happen in these short 3 months “.

Binance Exchange was founded in Hong Kong in July 2017, but in March of this of the year company reported, that moves to Malta, which positions his jurisdiction as a “blockchain island” and recently adopted several bills, aimed at regulating this industries.

In June, Binance announced that it is sponsoring the Malta Stock Exchange Program exchanges to support fintech startups and entrepreneurs. Fintech accelerator MSX will help develop a harmonious cryptocurrency ecosystem on the island, reported stock Exchange.