“In obtaining our EMI licence we have been allowed to radically diminish client exposure to the actors of financial markets, and I see this as a move towards the ‘New World Order’.”
Benker has launched in Europe following approval by the Bank of Lithuania beneath the Electronic Money Institution (EMI) class in a milestone transfer for the “first officially licensed blockchain neobank”.
The neobank operates entirely on blockchain, being the primary monetary companies supplier in the European Union to take action. The financial institution will supply companies for each people and SMEs, and a platform on which to purchase and promote gold.
Now open for pre-registration, the neobank will run on Natrix, a purpose-built hybrid blockchain created for the monetary sector to satisfy all GDPR, financial institution secrecy and regulatory necessities.
Benker ensures customers have full management, autonomy, and freedom, with customers and monetary market individuals being on the identical stage. This is a part of its aim of Compliant Client Autonomy.
Viktor Bodnár, Chief Executive Officer of BENKER, mentioned: “We’re introducing a new brand in financial services that can challenge the established order by extending existing legal and regulatory safeguards with the advanced technology-based guarantees achieved through blockchain. In obtaining our EMI licence we have been allowed to radically diminish client exposure to the actors of financial markets, and I see this as a move towards the ‘New World Order’.
“By adding blockchain to the way in which customer accounts are managed securely, we are offering constant transparency, traceability and complete control over financial matters for our clients, creating the highest level of freedom. This is what we’re calling Compliant Client Autonomy and it’s an idea that is at the heart of BENKER”, he continued.
“We’ve worked hard to create a fully compliant and secure blockchain neobank, and I’m delighted that it is now going live in 2022. The result is a system in which clients and service providers are finally on the same level, and within all legal and regulatory requirements. This will make managing personal finances in the future more efficient than ever.”
With places of work in Vilnius, Lithuania and Boston, Massachusetts, Benker was developed by BEM Europe UAB and acquired approval from the Bank of Lithuania on January 13, 2022 to function as an Electronic Money Institution.
Benker states that by including blockchain expertise to the prevailing line of ensures, monetary service suppliers can ship full transparency on all transactions whereas complying with legal guidelines and rules.
While blockchain has been promised as an answer for transparency in transactions, the crypto trade has not solely seen immense fraud however even lots of its leaders, equivalent to Binance, have systematically did not adjust to the KYC and AML necessities in many international locations.