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  • Binance CEO Changpeng Zhao promises to be among the first clients at Founders bank.
  • Founders Bank is expected to open in 2020 to offer tailor-made services to cryptocurrency firms.

Founders Bank will soon launch in crypto-friendly Malta. A native of the small country Paula Pandolfino has been pushing for the bank expected to open its doors in 2020. Pandolfino has Bitcoin a Bitcoin support since 2016 when she started investing in the digital currency. She now believes that a crypto bank will ensure that the field is accorded full banking services.

“Crypto will take over the world, and we need full banking services,” she told CoinDesk. “We want to be that pillar of banking for the ecosystem to support how it gets done. If anything, [we’re learning] how to wean off traditional banking and getting crypto to be that platform.”

Binance, also based in Malta is among the backers of the Founders bank which has already raised $10 million in capital. Other partners include the hedge fund Polychain Capital and the Czech firm Carduus Asset Management. However, Binance is the leading investor among the three investors.

Binance has already pledged to be among the Bank’s first clients through the CEO Changpeng Zhao. The team at Founders bank are waiting for a license and approvals but they are taking this time to learn what services their investors would prefer.