Bankera Acquires Pacific Private Bank Ltd, Well on the Way to Deliver Blockchain Era Banking

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Financial services innovator Bankera, which recently made headlines as one of the biggest ICOs to launch, is well on its way to deliver blockchain era banking with a surprise acquisition of Pacific Private Bank Limited (Pacific Private Bank).

Founded over 20 years ago in 1997, Pacific Private Bank has made a name for itself as a specialist in asset and wealth management, servicing a private clientele from a strategic geographical location providing a conducive legal environment, including tax and economic features. After two decades of success, the bank owns a highly-developed IT infrastructure able to support complex banking operations, hand in hand with some of the best personnel in finance and banking.

For Bankera, this means that it edges closer to its objective of setting itself up as a blockchain-enabled provider of full financial services, attaining a significant milestone ahead of schedule. The strategic move will see Pacific Private Bank enhance its infrastructure in operations with significant blockchain-based advancements and technological improvements, while maintaining a clear separation from Bankera operations.

While Bankera will proceed with its clear focus on global services using both traditional and crypto currencies, Pacific Private Bank will continue developing fiat-based banking solutions, keeping current managing director Mantas Staliūnas and treasurer Algirdas Purkėnas on its management team. Directors Audrius Žiugžda and Martin St-Hilaire will also remain to at the helm. In addition, these directors will now sit on the Bankera advisory board, sharing know-how and industry insight gleaned from their extensive experience in the M&A sector, coupled with their unique expertise in auditing, accounting, banking, tax structures and risk management.

Bankera, Spearheading Blockchain Era Banking

Bankera is dedicated to building a fully digital bank without the costly limitations of physical branches that will one day represent a single destination for a complete range of financial services. It operates as a fork of SpectroCoin, which has a bank-like infrastructure with more than 700,000 clients and five years of maturity in the cryptocurrency market.

With this technological strength, Bankera will augment Pacific Private Bank with bank-level blockchain tech, beginning with a first step of connecting the bank to the Ripple network, simultaneously facilitating cross-border, low cost and ultra quick transactions together with sophisticated blockchain-based identity management and KYC/AML solutions for client onboarding. Ripple has already received the attentions of global banking leaders such as UBS, UniCredit, Santander and Standard Chartered.

The Most Supported Crowd-funding Campaign

Last November, Bankera’s token sale saw the participation of more than 65,000 contributors, setting the record for the highest number of unique participants for a token sale. This came on the bank of a massively successful pre-sale that raised over EUR 25 million in three weeks. All in all, Bankera has firmed up EUR 80 million towards its milestone capitalization of EUR 177 million.

The Bankera token sale takes place on the SpectroCoin platform, allowing participants to contribute in over 20 payment methods to purchase BNK tokens, including a range of cryptocurrencies such as BTC, ETH, DASH and XEM.

To learn more about Bankera, visit its website and read its whitepaper. To join the discussions with its developers, visit the community chat.

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