Not many crypto professionals are surprised with the recent news that the crypto exchange Binance is opening with the help of crypto investors a bank in Malta, governed by German law. The bank is intended to build a bridge between crypto banking and conventional banking.
Following in the path of cryptocurrency’s the bank will be a decentralized community owned bank. The name of the bank Founders Bank is funded by private investors and institutional investors. Binance has a 5% stake in the bank worth over $155 million. Binance is expected to have earnings at the 1 billion mark this year.
The Founders Bank is yet another example of how cryptocurrency firms are trying to join the two sectors together and figure out ways that the two sectors can collaborate instead of the head on collisions in recent times.