Bankera is building a digital bank for the blockchain era, with the aim of integrating traditional and cryptocurrency related banking and becoming the one-stop-shop for all financial services. Bankera will offer three core lines of service:
Payments: Payment accounts with personal IBAN, debit cards, interbank foreign exchange rates, and payment processing. All services will support both fiat and crypto currencies. In the long term, Bankera will implement innovative solutions such as GDP-linked currencies or use equity traded funds as a substitute for money.
Loans and deposits: Not only savings, but also current deposits will receive interest. All Bankera clients will be able to benefit from higher interest rates due to proprietary information about borrowers’ cash flows, as most loans will be given to business clients who use the payment processing solution.
Investments: Low-cost investment products such as equity traded funds (ETFs), crypto-funds (a portfolio of various cryptocurrencies and crypto-tokens), and robo-advisory solutions for wealth management. Later on, Bankera will offer investment banking services including financing corporate strategies of business clients.
Bankera is an operational fork of SpectroCoin, a web-based bitcoin wallet and exchange provider, which serves as Bankera’s MVP (with features such as Bitcoin debit cards and payment processing), and will also be hosting its pre-ICO. SpectroCoin will continue to provide a solution for cryptocurrencies, while Bankera will provide the banking services listed above.
Bankera plans to have significant infrastructure in place prior to the initial coin offering (ICO). The company claims to already have the necessary regulatory and IT arrangements to offer individual international bank account numbers (IBAN) which can handle payments in the Single Euro Payments Area (SEPA), and says it will apply for additional banking licenses in key jurisdictions so as to be able to handle a wide variety of fiat currencies and facilitate cross-border transactions. Although Bankera will not have physical branches, it will issue payment cards that can be used at ATM’s and also plans on partnering with retail providers of cash deposit and withdrawal services, and on developing such a network of retail agents in developing areas. Bankera’s wallets will initially cover 22 fiat currencies, including major currencies such as USD, EUR and GBP, and in addition will also support cryptocurrencies such as Bitcoin, Ethereum, DASH, NEM and others.
Furthermore, in order to facilitate the acceptance of cash payments via Bankera’s gateway, Bankera will also provide businesses with extensions of its proprietary know-your-client (KYC) and fraud screening technologies, and offer incoming payments financing (as an alternative to invoice financing) or short-term finance products to bridge businesses’ cash flow gaps.
To obtain the capital necessary for implementing its vision, Bankera is launching an ICO and issuing ERC20 tokens called Bankers (BNK). Bankers token holders will be entitled to receive pro-rata shares of 20% of Bankera’s net transaction revenues in ETH on a weekly basis.
Most of the capital raised in the ICO will go towards satisfying capital adequacy requirement ratios and obtaining banking licenses in new jurisdictions. Currently, Bankera has a payment institution’s (PI) license and is authorised to operate in European Economic Area (EEA) regions. Bankera expects to obtain an electronic money institution (EMI) license before the ICO, which will enable all services except deposits and investments. After the ICO, the company’s key objective will be to obtain a banking license in the EU. Bankera will also work on obtaining membership in key financial networks such as card schemes and remittance channels, as well as additional banking licenses in key jurisdictions.
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