[ad_1]
It seems that Malta is going to get a bank that will finally start serving the crypt
and blockchain companies and people with a high net worth, which until recently had been avoided by traditional banks on the so-called & # 39; Blockchain Island & # 39;
OK Group's investment business, OK Blockchain Capital Limited, has announced that it is the anchor investor in RnF Finance Limited, a Malta-based company that caters to the Financial Services Authority of Malta for the authorization to act as a credit institution.
RnF's CEO and founder, Roderick Psaila, has worked in the banking sector for 28 years and has started numerous banks in Malta over the past 10 years. Until recently, he was also the CEO of AgriBank – a credit institution licensed in Malta.
Speaking exclusively of CCN, Psaila commented that, when operational, the Bank has planned to bring back adequate banking services to customers.
The Bank engages in four main business flows: providing banking services to companies; loan; Private Banking and asset management. We turn to large companies and private customers and the mentality would be that no industry is vetoed in advance, but each application will be dealt with on a case by case basis.
This mantra should provide cryptographic exchanges and companies issuing security tokens an opportunity to be assisted like other companies, assuming that their due diligence procedures are sufficient, added Psaila.
The Bank intends to invest heavily in blockchain technology and artificial intelligence, especially during its first years of activity. This would enable the Bank to integrate customers efficiently while ensuring a risk-based compliance assessment.
Ms. Tian Ying, founding partner of OK Blockchain Capital Limited, commented: "We are delighted to partner with Roderick and his team of bankers in this exciting project in Malta, and we are thrilled to be involved in this new banking business on Blockchain Island. . "
Tim Byun, Chief Risk Officer and Head of OK Group Government Relations, noted: "Malta was the first company to completely regulate the blockchain industry and we are excited to be involved in this new banking business with RnF Finance Limited: Malta's strong regulatory framework and support for new industries will produce much more opportunities on Blockchain Island. "
RnF is ready to start banking transactions by the middle of next year, subject to regulatory approval.
Shutterstock foreground image. Image of Roderick Psaila from LinkedIn.
Get an exclusive cryptographic analysis by professional traders and investors on Hacked.com. Register now and receive the first month for free. Click here.
