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The first to move has the advantage! Malta on the edge of obtaining a Blockchain Bank
There is no denying that "Blockchain island"He had all the compliments in the recent past for his commitment to supporting and building the crypto ecosystem that is really well deserved. Malta is going to get a blockchain bank, which means it will claim the first mover advantage in that category.
This is excellent news as the bank will finally begin to serve the crypt as well as blockchain companies and people with a high net worth which for a long time have been avoided by traditional Malta banks until recently.
The odds are promising
It is a partnership of OK Blockchain Capital Limited and RnF Finance Limited to offer an exciting project in Malta. Furthermore, the investment arm of the OK Group is the investor of more, and it is as if the future had begun.
According to Roderick Psaila, CEO and founder of RnF finance limited (a Maltese company that addresses the financial services authority of Malta for each authorization as a credit institution), the bank intends to provide almost perfect banking services to all customers.
The fact that Psaila has been cooking for over 28 years and continues to count makes it almost certain that Malta is on the edge of a blockchain bank. In addition, it has started many banks in Blockchain Island for over a decade. Therefore, it is not surprising that a blockchain bank is behind the corner.
Expectations of the Bank
The bank will engage in four business flows that include the provision of banking services to companies, private banking, loans and asset management. Psaila added that the main objective will be private customers and large companies with a mindset of not giving priority to any industry and that all applications will be treated in the same way.
He also added that it is an opportunity for cryptographic exchanges and companies issuing security tokens to be served like other companies provided they have sufficient due diligence procedures.
Undoubtedly, the project is good news with the founding partner of OK Blockchain Capital Limited, Ms. Tian Ying, who also has similar beliefs and expressed her joy for the partnership. In addition, Tim Byun, Chief Risk Officer and Head of Government Relations believes it is massive for Malta, which has been at the forefront of blockchain adoption.
He said that there are more opportunities on Blockchain Island – thanks to the solid regulatory framework and support for new initiatives. RnF is now subject to regulatory approval and will start banking at some point in the middle of next year. Undoubtedly, expectations must be high and only time will tell.
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