Launched in 2017, Bankera is an operational fork of Spectrocoin – the cryptocurrency exchange e-wallet, debit card, and payment processor.

Bankera is seeking to be a bank for the blockchain community. It will offer services similar to a traditional bank such as loans, deposits, payment services, and investments. But these services are solely for the blockchain community.

The company expects to receive a banking license by 2009. Thus the complete product range is still some way off. But debit cards and IBAN numbered accounts are available. After depositing €1,000, a customer will receive a free debit card. Spectrocoin has developed a core infrastructure comparable to traditional banks – which Bankera plans to build on.

Who is Behind Bankera?

Vytautas Karalevivius who is also the CEO of Spectrocoin heads Bankera. Other key members include Mantas Mockevicius and Justas Dobiliauskas. Several companies plan to offer advanced banking services to the blockchain community. Regardless, Bankera seems to have an edge over them as they have one of the most qualified teams in matters knowledge of compliance and regulatory activities.

Products and Services

Bankera’s services will focus on three main areas. Once it gets its banking license, Bankera will offer clients payment accounts with personal IBANs, interbank foreign exchange rates, debit cards, and payment processing solutions. Services will support fiat and digital currencies such as Bitcoin, Ethereum, Dash and many others. This will ultimately make Bankera a pioneer in crypto regulated banking.

For businesses, Bankera will offer instant payment settlements. Using know-your-client (KYC) and fraud detection solutions, it will gather info on incoming payments, and settle transactions automatically. This will simplify a process that could otherwise take weeks. Advanced technologies will enable Bankera estimate customers’ economic ability and thus provide them a better loan and deposit rates.

In accordance with the proposal by Nobel Prize-winning economist Robert J. Shiller, Bankera will provide low-cost investment products such as equity traded funds (ETFs) and crypto-funds denominated in “baskets”. This will help tame inflation and enable customers to keep their investment employed to maximize potential returns.

The Bankera ICO

The Bankera pre-ICO sale took place between August 28 and September 28, where the company released 10% of its total supply of tokens. The target for the pre-ICO was 2.5 billion tokens for an estimated €25 million. By 3rd September, 2 billion tokens had already been sold. Bankera’s plan is to raise €150 million from both pre-ICO and the actual ICO. The proceeds will help the company improve its current infrastructure as it pursues a banking license.

A Banker (BNK) tokens holder will be entitled to a referral commission disbursed weekly. The commission will be part of the 20% of Bankera and Spectrocoin net transaction income. In case the net revenue from Bankera’s platform is €10 million for the week, then the smart contract will be paid €2 million as referral commission. Bankers (BNK) are ERC20 compliant tokens built on the Ethereum blockchain. NEM mosaics will also receive tokens for the blockchain.

With the help of smart contracts in the form of Ether and XEM, this amount will be credited directly to investors on a weekly basis. You can enjoy such benefits for a lifetime as no time limits have been set yet. The referral commission will begin crediting once pre-ICO closes. The number of tokens sold during the ICO will determine the price of BNK tokens.