Malta is about to get a bank that will finally begin servicing crypto and blockchain companies as well as high net worth individuals, who until recently, have been shunned by traditional banks on the so-called ‘Blockchain Island’.
OK Group’s investment arm, OK Blockchain Capital Limited, announced that it is the anchor investor in RnF Finance Limited, a Maltese based company applying with the Malta Financial Services Authority for authorization to act as a credit institution.
The CEO and founder of RnF, Roderick Psaila, has been in banking for 28 years and has started a number of banks in Malta over the past 10 years. Until recently, he was also the CEO of AgriBank – a Malta licensed credit institution.
“The Bank shall engage into four main business streams: Offer banking services to corporates; Lending; Private Banking and Wealth Management. We are targeting big corporates and private clients and the mentality would be that no industries are vetoed beforehand but each application will be treated on a case by case basis”.