Developer of Blockchain Based Bank Acquired Bank in Vanuatu

Journalist

Sead Fadilpašić

Journalist

Sead Fadilpašić

About Author

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

Author Profile

Share

Copied

Last updated: 

June 26, 2023

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Bankera, a digital bank developer, published in their blog post that they had acquired a bank.

The co-founders, Vytautas Karalevičius, Mantas Mockevičius and Justas Dobiliauskas for undisclosed sum have acquired the Pacific Private Bank based in Vanuatu after fourth months of diligent searching.

Bankera is building a regulated bank for the blockchain era, which means that it will be a digital bank with traditional banking services (e.g., giving out loans) and will support both cryptocurrencies and fiat currencies. Both in the blog post and on their official website, they state that crypto still comes first: they are working offering on proper banking solutions, such as IBAN accounts, payment cards and payment processing for both crypto and fiat.

The announcement says, “By acquiring the bank, our team has secured a working product with a strong client base and, most importantly, a solid IT infrastructure. The bank’s know-how will be a significant resource to help Bankera ensure its success.”

As confirmed by local business news website vz.lt, the seller is Vilius Kavaliauskas, CEO of Lewben (an international group of companies providing clients with asset, wealth, and fund management services), as well as Chairman of The Board of Pacific Private Bank Limited.

Disclosure: Cryptonews.com is backed by Antanas Guoga, founder of the International Blockchain Centre Vilnius, entrepreneur and Member of the European Parliament, who is also Bankera’s adviser.