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 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.
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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.