According to Bloomberg, Binance supports plans to set up the first decentralized bank, which will be owners of crypto money.
Binance The Founders Bank, one of the world's largest crypto money exchanges, had a 5 percent share of the million dollar value. The bank will be operated from the island of Malta, where Binance has recently relocated. According to Bloomberg, the bank needs to obtain licenses from the regulators in Malta, a member of the European Union.
the first central bank "The Founders Bank" is established in Malta
Malta is very pleased with the plans to open a bank belonging to crypto-currency investors. Junior Silvio Schembri, financial services, digital economy and innovation minister, said in his statement:
We are honored to be chosen as the site of the first global community bank.
The Founders Bank aims to be the world's first decentralized, community- Binance's investment is the first step for an offer that The Founders Bank will make with Blockchain-based funding platform Neufund, according to an e-mail sent to Bloomberg by the world's second largest stock exchange. The Founders Bank also aims to export its legally binding shares
Crypto investors will be in the decentralized bank decision mechanism
According to reports, all market participants will be equal to the founders of The Founders Bank. The bank will allow investors and customers to decide which direction the bank will go and what the strategy will be. The intelligent contracts to be created will be used for management.
Binance has also rolled out its business in doing fiat-crypto trading.
Meanwhile, Binance is making a very intensive effort to trade fiat-crypto this year. To illustrate one of these efforts, the crypto money market has launched a stock exchange platform in Uganda where it can trade against the price crypto paralara. The crypto money market aims to trade euro crypto shortly after we open a bank account in Malta.
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