Search ForexCrunch

A new bank designed with generation Z and millennials in mind has just secured USD 20 million worth of funding from the likes of Galaxy Digital.

The bank will be based in New York and be aimed at young professionals and teenagers. The company called Current began as a debit card issuer for teens before launching personal checking accounts in early 2019 with features like faster direct deposits.

The firm has so far has  raised a total of USD 45 million and attracted over half a million customers, according to a company statement. It is looking to boost that number to 1 million by mid-2020.

“In a competitive neobank market, Current stands out for its focus on delivering better outcomes for the modern family, by empowering them with the financial tools to meet their underserved needs,” said Galaxy Digital co-founder Sam Englebardt.  

Galaxy Digital are a digital currency based fund with well known  Michael Novogratz heading up the firm as CEO. Mr  Novogratz made the news earlier today suggesting that Bitcoin could hit USD 6,500 if there is not any new fresh impetus for a move higher.