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25m $ to set up a bank sounds a little too less doesn't it?

 

6 minutes ago, mercylad said:

25m $ to set up a bank sounds a little too less doesn't it?

 

Generally banks need about $12 to 20 million in capital to get started.

source: http://www.huffingtonpost.com/2010/03/19/how-to-start-your-own-ban_n_497261.html

Also while doing research I read somewhere that a new EU regulation makes it possible to get a bank license at 6m. (not sure if this is true was no serious source just reddit) 

Edited June 19, 20178 yr by Oliver

I think bitcoin.de has done the same. The bank is called fidor bank. 

It's founded in Estonia. I'm happy for them. GL

16 minutes ago, Oliver said:

Generally banks need about $12 to 20 million in capital to get started.

source: http://www.huffingtonpost.com/2010/03/19/how-to-start-your-own-ban_n_497261.html

Also while doing research I read somewhere that a new EU regulation makes it possible to get a bank license at 6m. (not sure if this is true was no serious source just reddit) 

Dang lel, if I didn't despice interest I'd be off starting a bank. Just gotta find that 12-20m somewhere.

Jesus another fucking ICO...

47 minutes ago, m4tis said:

It's founded in Estonia. I'm happy for them. GL

i'm out

what's with all the russians on the board? As for those who discredit Estonia as a business place, let me just mention some - Skype, Transferwise. I envy them because my nation is only capable of potatoes.

Edited June 19, 20178 yr by Magerange

rich get richer smh

I mean the current banking system blow chunks. They charge thousands in fees to send money internationally and it takes 3-5 business days and up to 7 days if your business days overlap the weekend. Bank transfers are terribly slow, difficult to get started as they require so much information, and cost tons of money. I personally don't see a downside to a bank that solves that but they have a lot of hoops to go through. It can very easily flop.