Binance invests to build world's first decentralized bank in Malta

posted 4 months ago
Binance seeks to lay groundwork for a new bank whose owners will be crypto investors.

The company said the crypto-friendly island of Malta will be home of the future Founders Bank and that it has invested in a 5 percent stake alongside other anchor investors at a $155M pre-money valuation.

The bank would need a license from regulators in Malta, a member of the European Union and subject to its financial rules.

The project, based on blockchain systems, will seek to turn Founders Bank into the first decentralized and community-owned bank in the world, provided it gets the necessary permits.
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