Binance, the biggest cryptocurrency exchanges by trade value ($1 billion) has plan startup first decentralized and community-owned Founders Bank in the world. Bank would need a license from Malta regulators and approval of European Central Bank. Founders Bank would delegate legally-binding equity tokens sale to the blockchain-based equity fundraising platform Neufund. These news comes after Malta passed three laws aimed at encouraging blockchain-based businesses in the country.
Silvio Schembri, junior minister for financial services, digital economy and innovation within the Office of the Prime Minister of Malta said:
We are honored to be chosen as the location of the first global community-owned bank