Developer of Blockchain Based Bank Acquired Bank in Vanuatu

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.