Australian proposes to create a cryptocurrency bank

The entrepreneur Fred Schebesta announced this week that he plans to build a financial entity specialized in handling electronic currencies

The multi-millionaire entrepreneur and co-founder of, Fred Schebesta, highlighted on Tuesday that he plans to build a bank specialized in handling cryptocurrencies.

This financial entity will be located in Australia and will also offer the service of making bank loans in electronic currencies. The next step of the billionaire is to settle commercial agreements with banks in FIAT currency.

“As the adoption of cryptocurrencies takes off and gets bigger and bigger, people will need certain services such as custody, cold storage, exchange and disposition of funds, then loans which make the fiduciary economy work and, once the loans improve in the world of crypts, that will take this to another level,” explained Schebesta.

The co-founder of Finder also said that the bank could be ready in about 18 months, since it is already underway.

This project is not the first of its kind to find its way into Australia. In 2014, computer scientist Craig Wright sought to establish the world’s first bank of bitcoins. However, local authorities interposed various obstacles that ultimately led the project to failure. At that time Wright was the executive director of the company Hotwire PE.

K. Tovar

Source: NEWS

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