Malta has been attracting the cryptocurrency market for a while, and now they are moving a step further by recently announcing a new cryptocurrency bank
The island of Malta or ‘Blockchain Island’ will have the newest project backed by OK Blockchain Capital Limited, who will be investing in RnF Finance Limited
CEO and founder of RnF, Roderick Psaila, has been in banking for 28 years and has opened a number of banks in Malta
Speaking exclusively to CCN, Roderick Psaila commented, ”The Bank shall engage into four main business streams: Offer banking services to corporates; Lending; Private Banking and Wealth Management. We are targeting big corporates and private clients and the mentality would be that no industries are vetoed beforehand but each application will be treated on a case by case basis”
The bank intends to use blockchain technology and artificial intelligence heavily in its first years and banking operations are set to start mid 2019.