Blockchain Startup Polybius Bank to Setup in Switzerland


The team of Polybius Bank, a project aimed to create a regulated bank for the digital generation announced a recent visit Zurich and Zug, Switzerland, and the team is now reporting of prospective collaboration with Ernst & Young, one of the “Big Four” accounting firms, who agreed to be the bank’s advisers.

In addition, it was announced the Polybius Bank is more than likely going to seek Switzerland banking licenses and base operations in the country. The more things might change they also stay the same as the bank capital of the world, Switzerland, is eager to see that continue into the fintech generation, and the Polybius team recognized this.

Polybius informed regarding meetings with Crypto Valley Association and Ministry of Economic Development of Zug.

The financial regulator in Switzerland (FINMA) is enthusiastic to help new projects and collaborate in order to create regulations for all parties to benefit. Switzerland, as a financial hub takes great interest in innovative fintech projects and blockchain solutions and is eager to support them; several fintech blockchain-based projects have already acquired their licenses through FINMA.

More benefits of a Switzerland base for the Polybius include low tax and decision-makers are easy to get in touch with. Thus, relocation of Polybius to Switzerland will allow the startup company to save a considerable amount of capital while acquiring necessary licenses.

The promising project has yet to announce a date for its planned ICO, but the company roadmap can be viewed below:

To read the Polybius Bank Prospectus filled with all the information on the project click here.

Source: Cyrpto Ninjas


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