Hey guys,
after a long period of medial absence an interesting piece of information with respect to Polybius Bank has emerged earlier today.
Being a generally quite weakly represented and possibly underestimated project, the Estonian Polybius Foundation OÜ with the ambition of establishing the first legally licenced crypto bank declared that it has begun to set up its headquarters in Brussels - one of the epicenters of European legislation and financial supervision.
Suffering from a bad reputation of corporate communications and the archetypical scam accusations common to crypto world Polybius certainly did not exactly deliver outperformance since its ICO in early/mid 2017. But I feel that proclaiming a central European state as the jurisdiction of choice for a crypto banking endeavour could actually be more significant than one might think.
With Bankera, another major crypto banking project, just recently having announced its purchase of the Pacific Private Bank in Vanuatu, it certainly deserves some credit and confidence for a similar business to embrace and anticipate official regulation of crypto space instead of attempting to evade it by migrating to offshore jurisdictions.
Somewhat dissatisfyingly, Polybius so far maintains its rather secretive stance on the ongoing assembly of corporate C-level team members but allegedly will be able to announce more details in the upcoming weeks. Furthermore development of their DigitalPass technology is said to be progressing and will reach the minimum viable product stage by the end of February.
What are your opinions, will the ambition of crypto banking survive in the heart of European legislation?
I'm curious to hear what you think
Sources
Disclaimer: I am currently holding a material position in Polybius (PLBT) tokens
Thanks @galotta
information with respect to Polybius Bank has emerged earlier today.
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STOPMy comment comes late. I guess Polybius is a dubious project. Please have a look at this:
https://u.today/past-ico-review-why-you-cant-take-polybius-to-the-bank
Look at the price of polybius token: 1 PLBT = $ 1.52 USD (2018-11-19 10:15:59)
When the started the bank I paid 10 Euro for one token. Looks like a really bad choice.