First Australian Cryptocurrency Bank in the Pipeline of Finder CEO

By Sumedha Bose

Coming up with another ‘big announcement’, it has been reported that the Australian Country is going to have a Cryptocurrency Bank soon.

The CEO of the website Finder.com, Fred Schebesta, has uncovered his plans and intentions to furnish Australia with a crypto bank, soon enough. The team of Finder.com has been dedicated to make people’s decisions a whole lot easier. They provide the public with virtual comparisons of everything, be it money, insurance, shopping brands or anything else, absolutely free of cost.

The entrepreneur, has established himself extraordinarily at a very young age and aspires to achieve more. The self made man, started off with a simple credit card blog and took it to the heights where today, it stands as a business operating in more than 10 countries. He now wants to take a step further and explore the business prospects in the crypto-space.

Identifying the growing popularity of crypto tokens in the beginning itself, he was able to envision the need of crypto financial institutions in the near future.

Fred has this faith, that the cryptocurrency institutions will prosper in due course of time. He doesn’t give his approval to the concept of Bitcoin being an ‘economic bubble’ and neither does he admit that the digital coins were very widely accepted. He prefers to remain neutral in this regard until the crypto industry reaches its peak.

Quoting the young man’s stance on Bitcoin,

“Remember, people said bitcoin was a bubble at $US10, a bubble at $US 100, a bubble at $US1000. After it went to $US100 it went down to like $US12, that’s way lower than $US 20,000 down to $US 6000.”

As planned, Schebesta would set his foot in, to procure Authorised Deposit-Taking Institution (ADI) license, which will serve as the baby step and take him to the path of success in his ‘big plan’. In this regard, he has established a tie-up with a prominent Australian Bank, titled Goldfields Money.

As per Fred’s presupposition, the bank would launch its services in approximately one and half years from now.