According to reports, the world's second-largest exchange, Cohen, decided to support the establishment of a decentralized bank in Malta.
Bloomberg reported on Thursday that the company has purchased a 5% stake in the founder bank, Founder Bank, for 133 million euros ($155 million).
Coin said that the Founders bank's system is based on blockchain technology and will also issue its own "legal effect" cryptocurrency with the financing platform Neufund.
The bank hopes to get permission from the EU government to officially operate the business. If approved, the bank will become the world's first “decentralized, community-owned” bank. According to the report, the token investor will actually own the bank:
“Malta is a fusion of traditional finance and blockchain finance. There are many things going on in just three months.”
Coin was established in Hong Kong in July 2017 and moved to Malta in March this year and established a cryptocurrency currency exchange. Malta is a country that is friendly to blockchains and cryptocurrencies. Policy transparency and robust regulation have led many cryptocurrency-related companies to travel there. Just two weeks ago, Malta passed three distributed ledger technology (DLT) and encryption related bills. Malta has taken another step towards the goal of “blockchain island countries”.