First Decentralized Malta Bank Won Binance Support
July 13, 2018
One of the world’s largest crypto exchanges Binance became investor of the Malta’s first decentralized Founders Bank, as Bloomberg informed.
Binance was reported to acquire 5% in preliminarily assessed cost of the company which makes about $155 million. The decentralized Bank will include various blockchain systems and under the partnership with Neufund fundraising platform will issue legally binding digital tokens.
The founders of the bank plan to receive operation license from the EU. If application approved Founders Bank will become the first decentralized bank ever owned by community, i.e. investors who will receive digital tokens.
“Malta is the fusion ground for traditional and blockchain finance now. A lot can happen in 3 short months”, Binance's CEO Changpeng Zhao said.
Remember that Malta is one of the most attractive locations around the globe for crypto and blockchain companies. For instance, Binance announced its plans to open its office on the island in March.