GEORGE TOWN, Grand Cayman, October 11, 2018 /PRNewswire/ --
Today marks the launch of EQIBank , the world's first licenced and regulated bank for national currencies, crypto and digital assets. For the first time, customers can manage traditional and crypto assets within a single banking relationship, while accessing a comprehensive suite of services including trading, custody, lending, clearing and settlement.
Founded by former HSBC, Credit Suisse, Bank of New York and UBS bankers, EQIBank holds a full, unrestricted offshore banking license in CARICOM and is regulated by the Financial Services Unit and Eastern Caribbean Central Bank. Open to private individuals, institutional investors and corporates, EQIBank is taking customer applications ahead of launching accounts and its EQIBank Exchange in December 2018.
" There is a lot of market speculation about the delivery of a new generation of bank - one that can bridge the worlds of crypto and national currencies. However EQIBank is the only licenced, regulated bank that is operational and ready to receive applications for accounts," said Jason Blick, CEO, EQIBank. "Securing a banking licence is a rare occurrence; regulators receive hundreds of applications every year but between 2010 and 2015 only 3 new banks opened in the US. This is why we are so proud to have been granted a full banking license and look forward to bringing progressive banking services across the globe."
Banking is Broken
Cryptocurrency and emerging digital assets are redefining the way banks need to operate. In today's financial ecosystem, investors are hindered by the complexity of multiple separate relationships with banks, cryptocurrency exchanges, lenders, custodians, wallet and vault providers. This typically involves up to 13 different touchpoints, creating an inherently risky and expensive process. EQIBank was designed with the aim of simplifying and future-proofing banking infrastructure by replacing these fragmented relationships with one secure, stable and cost-efficient bank.
"Banking is broken. We hear this consistently throughout the market - whether we're talking to high net worth individuals or financial institutions. People want to invest in new, emerging asset classes, but they can't because the industry simply hasn't evolved to make it possible. The process is too complex, too expensive and too insecure. We launched EQIBank to solve these problems, redefining the boundaries of banking," said Blick.
EQIBank is the first licenced bank to deliver on the potential of blockchain. It incorporates distributed ledger technology, providing clients with an advanced digital platform for all of their traditional, digital and crypto assets. It provides the most comprehensive financial services ecosystem in the world for anyone looking for a smart, seamless banking experience.
- Banking - In addition to current and savings accounts for private clients and corporates, EQIBank offers card services and lending accounts
- Exchange - EQIBank is the first licensed bank in the world with an in-house cryptocurrency exchange. Moving forward, EQIBank will also offer banking services to partner exchanges
- Lending - In addition to traditional loans from its own balance sheet, EQIBank will also offer P2P loans secured on cryptocurrency and digital assets
- Custody - EQIBank is one of the first banks in the world to offer custody and vaulting service for crypto and digital assets. These are secured to full banking standards
- Insured Wallets - EQIBank's wallets will be insured and integrated with EQI's online banking infrastructure, offering transaction alerts, risk-screening and fraud protection
- Settlement - EQIBank offers seamless internal settlement between fiat and cryptocurrency
EQIBank is an offshore bank and offers banking with no direct taxation. It will be joined by EQIBank Europe and EQIBank Asia, both of which launch in 2019.
To apply for a bank account today please visit EQIBank.com.
 http://fsu.gov.dm/registered-entities/offshore-banks The Financial Services Unit, CommonWealth of Dominica.
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