The world's first decentralized bank, Arise Bank, announced a positive outcome of negotiations on acquiring an American bank insured by the Federal Deposit Insurance Corporation (FDIC). The acquiring should take place before the end of the year.
FDIC is an independent structure established by the United States Congress to ensure stability of the country's financial system and citizens' trust in it. Thanks to this deal, Arise Bank will have full rights to carry out all financial operations of traditional banking and combine them with cryptocurrency platform functions in real time. In reality, this means unifying the global network of terminals, ATMs and bankcards with the AI trading platform, states the Huffington Post report.
In addition, the company plans to raise $1 billion on the ICO to launch its services as the world's first cryptocurrency bank. Arise Bank CEO & Co-Founder, Jared Rice Sr., said that the process of decentralized and traditional banking consolidation would have happened sooner or later anyways, and Arise Bank is happy to be the pioneer.
The company also sees the acquisition of the 25-year-old bank as a contribution to launching crypto investment services.
"The world's first cryptocurrency bank of federal importance will attract long-term strategic clients from many countries," commented Arise Bank advisor, Eddy Taylor, "we will ensure the increase of investor trust outside the crypto platform, which will engage various external services, including quantum secure operating systems, multi-crypto-debit cards and other technologies."
Quantum technologies are of great importance to the development of cryptocurrency platforms and the entire banking system, because of their increased security. You can learn about the innovation possibilities and quantum computers cybersecurity principles at the Quantum Technology Conference 2018.
The event is dedicated to startups in the field of quantum technology, their monetization and practical application.
The speakers will touch on:
► development of the Russian and international quantum technology markets;
► quantum modeling;
► business challenges solved by innovation;
► data encryption algorithms in quantum telecommunications.