Binance is helping to launch a new decentralized bank which will be owned by digital coin investors. The jurisdiction is crypto friendly Malta, which just this week attracted criticism from the European Banking regulator.
Founders Bank will have token based equity to be released on the fundraising platform Neufund. They are yet to announce details about the token issue. However, it will come under German regulation with a European stock exchange later this year. André Eggert from German commercial lawyers Lacore is the legal architect for Neufund.
The bank plans to serve tech and crypto businesses. The latter have a hard time getting good banking relationships. Founders will provide conventional services like mobile and desktop banking, a Founders Bank credit card, and presumably linked to crypto. They are awaiting a Maltese banking license and aim to launch in the first half of 2019.
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