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The Malta-based RnF Finance Limited has joined hands with OK Blockchain Capital, in launching the first blockchain bank in the country.
RnF has applied for authorization as a credit institution to the Malta Financial Authority Services, which if approved would result in Malta getting its first blockchain bank with provision for operating in different cryptos.
In an interview with CCN, The CEO and founder of RnF, Roderick Psaila, commented that when operative, the Bank is planning to bring back proper banking services to clients.
" The Bank shall engage into four main business streams: Offer banking services to corporates; Lending; Private Banking and Wealth Management. We are targeting big corporates and private clients and the mentality would be that no industries are vetoed beforehand but each application will be treated on a case by case basis."
As well, the Chief Risk Officer of OK Group, Mr.Tim Byun, commented, “Malta has been a first mover to comprehensively regulate the blockchain industry, and we are excited to be involved in this new banking venture with RnF Finance Limited.”
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