A Blockchain Bank On Malta!

Maja Mazur
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Malta, or, how some like call it, ‘The Blockchain Island’, will finally get its first blockchain bank. It was officially announced that RnF Finance Limited, which is a Maltese company, applied with the Malta Financial Services Authority for authorization to become a full credit institution.

The crypto background

Malta is well known for its crypto-friendly laws and attitude. Many big European companies from the blockchain industry stay in close cooperation with this country. Some even are based there. Like the Binance exchange, for example. Malta is the perfect environment to develop cryptocurrency and blockchain solutions without unnecessary law restrictions. Thus, since many companies have their headquarters there, some big crypto events also are organised on this beautiful Mediterranean island. Malta has officially become home for the European cryptocurrency community.

Crypto bank

After inviting so many big firms, Malta had to meet their expectations and become even more engaged in the crypto world. Therefore, a new bank will be opened there. And not just any bank – a blockchain-based one. OK Blockchain Capital Limited will be working on this project in cooperation with the Maltese RnF Finance Limited. The brand new institution will offer various cryptocurrency services to many entities based on the island and also in the whole Europe.

The mission

RnF Finance claims that the bank will be useful for both big corporate and private clients. The CEO and founder of the company, Roderick Psaila, highlighted in an interview that every single case will be taken care of separately by the new bank and that’s what will be so special about it. What’s also very important is the fact of treating cryptocurrency exchanges and other crypto-related businesses in the same way as other entities, without any limitation. The priority of the bank will be to provide people and companies of the cryptocurrency industry with proper banking support. What also might be meaningful is obviously the further exploration of the blockchain technology on Malta.

 

The bank is set to be officially running in Malta by the middle of 2019.

 

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