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Binance to participate in crypto-friendly bank project

Binance to participate in crypto friendly bank project

Changpeng Zhao, Chief Executive Officer of Binance, one of the best-established cryptocurrency exchanges globally, has announced it will be one of the first clients of Founders Bank – one the first crypto-friendly bank projects globally.

According to Mr. Zhao, Founders Bank will bring a revolution to the crypto space, which is why Binance will firmly back and support this project. 

Crypto-friendly bank

While it might sound like something out of a perfect future, Founders Bank will indeed aim to be one of the first crypto-friendly banks in the world.

What is even more impressive is that a woman co-founds the Maltese project. Paula Pandolfino has been a constant presence in the world of finances for years, and since she decided to invest in Bitcoin in 2016, her mission has become to create a crypto-friendly bank.

The announced launch date for Founders Bank is somewhere in 2020, and the project has already secured a significant amount of backing from investors. 

Binance is one of the leading investors, as the company is too based out of Malta, and Mr. Zhao has expressed his unconditional support for the project. Other essential investors include Polychain Capital and Czech company Carduus Asset Management.

Founders Bank has already secured about $10 million in investments, but the company is still looking to reach the goal of $40 million before 2020.

Partnership with Binance

According to Ms. Pandolfino, the fact that Binance has become an investor for Founders Bank from the very beginning is extremely important.

For her, the support of such a big name in the crypto industry will give the project credibility and trustworthiness. 

Hopefully, Founders Bank will secure the necessary funding before 2020, so Europe can have access to one of the first crypto-friendly bank services soon.

Tina Yordanova

Tina Yordanova

Back from her stint with European Central Bank, Morgan Stanley, Barclays, Societe Generale, Hilton Hotels, and Aviva International, Tina rejoins Cryptopolitan with a deeper insight regarding the financial world, blockchain enterprises and institutions and practices involved in it. She is eager to share her rounded perspective honed from the biggest media analysis companies on the Balkans.

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