NextBank Aims To Be The First All-Bitcoin Financial Institution

Woe betide traditional banking because Dimitry Voloshinskiy and his team are on the prowl. Voloshinskiy is the founder of the NextBank Project, an attempt to create a truly bitcoin-based bank.

The team has raised $950,000 so far using personal money and angels, and they hope to attract more.

What is a BTC bank? First, they’re looking to attract the bitcoin crowd.

“We are a 100% online bank. There is emote account opening in majority cases and we are thinking about the bitcoin community. We are happy to welcome bitcoin companies, traders and forward-looking entrepreneurs. NextBank is the first bitcoin friendly bank,” Voloshinskiy said. They are building the company to work unlike any bank before it.

The company is also led by Celine Neves, a former CEO at a Vanuatu-registered bank. Vanuatu is an “Oceanian island nation located in the South Pacific Ocean” that offers a number of benefits to banking partners including “rational financial authorities,” as well as general worldwide acceptance. This places the organization outside of the traditional roadblocks put up against bitcoin businesses, a problem that strangles many crypto-fintech plays in the cradle.

“It’s not black-listed as [an] offshore centre.

Read more ... source: TheBitcoinNews