Malta has so far established itself has a force to reckon with when it comes to Blockchain adoption. According to a recent report, the ‘Blockchain Island’ is about to have a blockchain bank. The new bank is expected to carter not only for the needs of blockchain focused individuals and companies, but that of high net-worth individuals who are previously having problems moving their money around quickly and easily.
RnF Finance Limited to Launch Blockchain Bank
This blockchain bank initiative is a brainchild of RnF Finance Limited, a Maltese based blockchain focused Fintech company. According to the founder and CEO of RnF, Roderick Psaila, the company has already filed for licensing in order to function as a credit institution with the Malta Financial Services Authority.
Psaila, the former CEO of a Malta-licensed credit institution—AgriBank, has been in the banking industry for about 28 years and he plans on bringing his wealth of experience in the industry into the development of Malta’s first blockchain bank.
According to a recent statement he made, Psaila made it known that:
“when operative, the Bank planned to bring back proper banking services to clients. The Bank shall also engage in four main business streams: Offer banking services to corporates; Lending; Private Banking and Wealth Management.”
He further stated that: “We are targeting big corporates and private clients and the mentality would be that no industries are vetoed beforehand but each application will be treated on a case by case basis.”
Investing in Blockchain Technology And Artificial
With the launching of the new bank, crypto focused companies now have the opportunity of accessing banking features just like any other business in the centralised space.
According to Psaila, initially, the new bank will have its investments focused on blockchain technology and artificial. Through this, the bank will be rest assured that it can truly serve all its customers needs perfectly.