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BENKER is now the first licensed “neobank” in Europe to operate entirely on blockchain

BENKER will be the first bank in Europe to operate entirely on blockchain, having received permission from the Bank of Lithuania.

by Kerem Gülen
26 January 2022
in Fintech, Business
Reading Time: 1 min read
BENKER is now the first licensed "neobank" to operate entirely on blockchain in Europe
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The European financial institution BENKER, created by BEM Europe that is based in Lithuania, has been granted an official license to be the continent’s first blockchain neobank, according to Fintech Baltic’s report.

BENKER becomes the first blockchain-based neobank in Europe

Despite the fact that the digital asset industry is the main subject of a lot of disputes, the technology behind cryptocurrencies, blockchain, appears to be gaining ground.

Viktor Bodnár, CEO of BENKER stated that:

“We anticipate BENKER will be the catalyst – igniting the fundamental transformation of how personal finances are managed digitally as well as establish an industry-wide standard. By obtaining our Electronic Money Institutional license, we can now radically diminish a client’s risk exposure to financial market participants. BENKER will transform electronic banking as we know it and will mark a New World Order.”

BENKER is now the first licensed "neobank" to operate entirely on blockchain in Europe
Natrix is the name of the blockchain used by neobank.

BENKER will be the first financial services company in Europe to operate entirely on blockchain, having received permission from the Bank of Lithuania to function as an Electronic Money Institution (EMI) on January 13, 2022.

See also:
Google enters the blockchain world

Natrix is the name of the blockchain used by Neobank, which was created specifically to fulfill the demands of the financial sector. Thanks to this blockchain, the service will not require clients to do anything additional and meets all GDPR, bank privacy, and regulatory standards.

Tags: bankblockchainFinancefintech

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