Blockchain technology has become more and more popular during the last couple of years, with numerous companies, financial institutions and banks considering its adoption in the future. While some are still researching, Fiinu, which aims to be a UK-based, blockchain-friendly bank has recently launched its token pre-sale, ahead of its full Initial Coin Offering (ICO) in November.
Once it launches, Fiinu will represent the UK’s very first blockchain-based bank, which will offer numerous retail banking services, yet conduct most of them via the blockchain network.
Lower costs, higher quality services, cryptocurrency withdrawals
Once it launches, Fiinu will use blockchain technology to the benefit of the users. Therefore, customers will be able to hold both sterling and digital currencies into a single account, and exchange between both at a fraction of the market’s current cost. Additionally, following the move to blockchain technology, clients will be able to take advantage of more lenient credit policies, but also services that have been designed to reduce commissions, and provide a better experience for all of its clients.
At this time, Fiinu is carrying out positive discussions with regulators in the UK, and is in the process of applying for a full banking license. Once it is granted, the company will try and fix all service failures currently present in the banking sector, thus becoming one of the most innovative and competitive firms in the space.
After receiving its banking license, somewhere towards the end of 2018 and managing to become profitable, investors who have purchased tokens in either the pre-sale or the public sale, will be given competitive yields on their initial investments. Some of the other benefits for investors include having 33% of yearly profit distributed to FNU holders, borrowing services for FNU holders, great smart credit services and budgeting tools.
In a recent press statement, the founder and CEO of Fiinu, Marko Sjoblom mentioned that: “This is an exciting opportunity, not just for Fiinu and its investors, but for the wider banking industry. Upon receiving our banking licence, Fiinu will become the first UK blockchain-friendly bank approved by the Bank of England. Upon launch, Fiinu has a number of exciting products and services which will help those who have been ignored by their banks for too long. This includes lending against an individual’s crypto-based assets, as well as the world’s first Bank Independent Overdraft. We have one simple aim, making your money work for you. Investors in our ICO will become part of Fiinu’s story that sees the power of technology used to tackle failures in the market and provide better banking services to all customers.”
By being an officially registered and licensed UK-based company, Fiinu will strive to place transparency and corporate governance in the centre of their operations, and achieve their final purpose: becoming a leader in the blockchain banking sector. Those who wish to learn more about Fiinu and/or participate in the ICO can do so right here.
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