Initium Group – a future corporate banking group that will focus on providing traditional banking services in five jurisdictions to companies operating in the new digital economy – announced today its official launch at a press conference in the Swiss financial capital.
Aimed at players in such sectors as FinTech, blockchain and gaming whose banking needs are frequently underserved by established financial institutions, Initium Group will seek banking licenses to operate in Switzerland, Liechtenstein, the United Kingdom, Israel and Singapore to kick-off operations in the first quarter of 2020. The bank will use a combination of private equity, institutional funding and a Security Token Offering (STO) to set up its infrastructure and meet local capital requirements.
“A large number of new digital economy business have a difficult time finding a banking partner that understands their true needs and is even willing to serve them,” said Initium Group CEO & Founder Daniel Spier. “The conventional risk modelling frameworks that traditional financial institutions use – coupled with their rather reactive nature – are just not responding to the growth aspirations of these new players. Initium Group sees this gap as an outstanding opportunity to help these fledgling companies get their ideas off the ground and actively participate in strengthening the foundations of the new digital economy.”
Initium Group main objective in the next few months is to raise the necessary funds to secure banking licenses in the five target jurisdictions and begin its operations as scheduled. To facilitate the launch of the bank and its planned token offering, the company is closely collaborating with Swisscom Blockchain AG, one of Switzerland’s leading Blockchain technology and crypto infrastructure providers covering integration solutions and services for digital asset class.
Initium Group brings together the right mix of banking skills, industry expertise and new technology to support the sector, mitigate the risk, and select clients on the strength of their business case, policies and procedures. Its service offering will include deposit taking, card issuing & acquiring, local payment clearing, as well as liquidity services.
“We want to be a bank for the disenfranchised players of the new digital economy,” adds Spier. “Whether you are a successful Asian blockchain start-up trying to expand into Europe with no banking partner or a large law firm unable to process multiple license applications because no bank is willing to hold the funds for your clients, Initium Group will step in to help you navigate the waters and set foot on land.”
About Initium Group
Initium Group is a future multi-jurisdictional corporate banking group committed to supporting the growth of its clients. We intend to become the bank of choice for the promising and solid businesses building the new digital economy and are open to investors to participate in our future.