One of the major cryptocurrency exchanges Binance invested in Founders Bank, the first decentralized bank that is about to be open in Malta. The company is going to get 5% of tokens of this financial institution, says Bloomberg. All the algorithms of Founders Bank are blockchain based. Transaction data, contracts with clients and accounts information are going to be stored in distributed ledger. The bank market value used to be $155 million before Binance made an investment. Founders Bank is going to start the work after it receives the Mal-tese banking license and European Union regulator approval. As soon as it’s done the bank is going to issue its tokens with the help of fundraising platform Neufund. The tokens will have an official securities status.All the token holders are considered Founders Bank owners. Earlier, Swiss stock exchange SIX officially announced that it in-tended to launch cryptocurrency exchange SIX Digital Exchange. The platform is going to work according to traditional financial and banking scheme, token owners would be able to sell and purchase cryptocurrency and store it on the platform. All the transactions are going to be handled by blockchain to make the operation faster. |
