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Malta is ready to implement its first Blockchain-based banking system with the assistance of OK Blockchain Capital, the subsidiary of the investment giant OK Capital Group.
Recently the Maltese company RnF Finance Limited has applied for authorization as a credit institution. If the application goes through Malta Financial Authority Services, the result could mean that Malta gets its first Blockchain-based banking system.
RnF Finance Limited is a fintech company based on Maltese blockchain. The first year of the blockchain-based bank, if approved, would focus on artificial intelligence and blockchain technology.
With the provisions to serve and exchange several criptos, the bank would have carried out transactions, disbursements and credit for the encrypted high number of individuals and companies Blockchain. In the past, encrypted enthusiasts have been left speechless as the absence of such a service in Malta.
Roderick Psaila, CEO and founder of RnF, has 28 years of experience in the banking sector and has initiated numerous banks in Malta, including the role of CEO of AgriBank, a credit institution licensed in Malta. Mr. Psaila believes that the bank:
"To offer banking services to companies, loans, private banking and asset management, we cater to large companies and private customers and the mindset would be that no industry has a veto in advance, but each application will be dealt with on a case by case basis".
By adopting a more traditional banking ethics for cryptocurrency, companies operating in the encrypted market would be able to ensure due diligence and compliance for the exchange of security tokens.
Living up to the Blockchain island of the moniker:
Malta, notoriously dubbed Blockchain Island, is considered a leader in the adoption and implementation of blockchain technology. In a historic move in 2018, Malta launched the world's first decentralized Global Stock Exchange, which enabled the sale of tokenised securities on crypto-collateral assets
