Founders Bank raises $10 Million from leading investors

Binance, Polychain Capital and Czech-based Carduus Asset Management have invested in the bank.
Founders will soon obtain a European banking license as well.

As per Coindesk, the crypto-focused Founders Bank has raised $10 million during its initial investment and is aiming to secure $30 million more. The Malta-based bank has received investments from Binance, Polychain Capital and Czech-based Carduus Asset Management. It was co-founded by Paula Pandolfino, a financial industry veteran and a Malta national and is scheduled to be launched in 2020.  

Pandolfino, who is also the chief investment officer at Founders bank, told Coindesk:

 “Crypto will take over the world, and we need full banking services. 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.”

 Previously, the bank had considered operating a token sale event for the same but didn’t as they were reluctant about the complications in the licensing process. It will soon obtain a European banking license.  

Pandolfino added:

“Our secret sauce is centered around building a know-your-customer, anti-money-laundering platform which is fintech-focused.”