The world’s second largest crypto exchange BINANCE, is planning to create a blockchain-based bank with tokenized ownership.
Binance has already invested in a 5 percent stake, along with other anchor investors, at a $155 million pre-money valuation.
The project seems to become the world’s first decentralized, community-owned bank. The owners of the future bank will be issued with “legally-binding equity
tokens” in return for their investment, via the blockchain-based equity fundraising platform Neufund.
Most probably it will be on Malta and before launching operations, the bank will need to seek a license from Maltese regulators, in accordance with EU financial laws.
Last month it was revealed that the exchange had already set up a bank account on the island.