Bankera acquires Pacific Private Bank to provide digital bank

Bankera is more than just a traditional cryptocurrency exchange, or a wallet service. Bankera has just acquired the Pacific Private Bank (PPB) in an attempt to become a worldwide all-in-one banking solution.
Digital banking solution Bankera has proudly announced that it acquired the Pacific Private Bank (PPB). However, both will continue on carrying their business operations as individual entities. The PPB, like any other bank, will continue to provide fiat currency solutions. On the other hand, Bankera will be providing fiat as well as cryptocurrency-based financial services worldwide.

Bankera aims to build a blockchain-based digital bank for all sorts of financial assets, including both fiat and virtual currencies. It will work like a traditional bank, but will be more efficient in a way, due to the fact that it operates on a digital platform. Its main plus is that in addition to the traditional fiat currencies, the crypto-bank will be supporting cryptocurrencies as well.

Bankera is more than just a traditional cryptocurrency exchange, or a wallet service. As it is offering banking services like loans and deposits for both fiat and digital currencies, it hopes to become a worldwide all-in-one banking solution. Bankera is also an operational fork of the cryptocurrency wallet, exchange, and payment services provider SpectroCoin.

The digital bank was able to raise an impressive €25 million in its presale last year. It is the largest ICO by contributor number so far, having attracted more than 65,000 investors. Bankera is all set to reach its €177 million hard cap and has already successfully raised over €80 million.

The PPB is an ideal choice for Bankera, as it has 21 years of financial experience and boasts of a highly developed infrastructure. It is especially known for its highly experienced and qualified staff.

The PPB has been providing financial services to individual clients since 1997. It hopes to further enhance its infrastructure through this partnership, via integration of the blockchain technology. The bank has already been connected to Ripple in efforts of doing so. It will also be implementing blockchain-based identity management solutions and KYC (Know Your Client) processes to enable a more secure marketplace and to increase its clientage.

The PPB will continue its operations under the same board of directors who will be a vital part of Bankera’s advisory board as well. The bank’s managing directors are especially famous for their professional insights, knowledge, and experience in the financial industry.

Benefiting from SpectroCoin’s blockchain experience and huge clientage, Bankera will be a step closer towards widespread cryptocurrency adoption. Many leading global banks have already indicated interest in the startup. Developers have announced that Bankera will be launching ahead of its schedule, thanks to its recent partnership with the PPB.