Founders Bank is a bank in which Binance has invested, and it has hired a former executive of Deutsche Bank, Kenan Altunis as the CEO, according to the latest reports coming from Bloomberg and cited by Investinblockchain. He will begin his role in June.
Founders Bank plans to expand in Europe
The bank is headquartered in crypto-friendly Malta and it will focus on serving tech startups and will also assist them in securing financial services which may be difficult with the traditional banks.
The bank is reportedly applying for a license from the Malta Financial Services Authority, and it plans to expand in Europe.
Founders Bank, in a blog post in July 2018, had said they expect to launch in the first half of 2019.
The bank is such that market participants can become co-owners of Founders Bank, and implements “blockchain-style governance models based on smart contracts.”
Back then the Binance CEO Changpeng Zhao said the following:
“We are not only excited to be one of the first investors of this inclusive community for this pioneering initiative, but also look forward to exploring the full range of its banking services. We continue to be delighted by the vibrant blockchain opportunities in Malta, and look forward to launching more partnerships in the region.”
We recently reported that Binance had been hacked and Changpeng Zhao made sure to address what happened just to make things as clear as possible for users.