Estonia-based NBC Banq has popped up in the world of fintech with the offer of “fiat and crypto accounts... It calls this double choice a global “first”. As with many firms in the cryptocurrency space, it wants to be an “alternative” to traditional banks. It offers buying and selling options, an app, and a debit/credit card.
The firm provides IBAN accounts to make and receive payments “from any high street bank” to a personal NBC account in order to buy crypto.
This all works via a “general account made up of many accounts”. For example, a multi-currency fiat account, a crypto account, a deposit account and other investment options within its platform.
There is also an NBC Wallet, a multi-asset blockchain that supports unnamed cryptocurrencies.
The firm is operated by NBC OÜ, based in Tartu – the second largest city of Estonia. Custodial services are provided by European Digital Trust KB, which is registered in Sweden.
The personnel behind the start-up are not listed on the NBC website, but a look around reveals it is Dritan Shpuza. He is a financial consultant and sales coach, working for two firms in London and Milan.
Fintech Direct contacted Shpuza for more details about NBC Banq. (Story was updated on 8 May 2020.)
In terms of funding, there are no numbers but this is “so far mostly personal funds (to get the licences and jump-start the project) and some deals with a few professionals for the technical development”.
It is based in Estonia because it is “one of the few European countries that still releases licences for a cryptocurrency exchange and wallet”.
He is clear about ambitions for the bank: “To be the one platform that can supply all kinds of services, such as financial, blockchain, insurance, legal, enterprise, etc. To become the: Amazon of services.”Read the original article