Over the last eight years, digital banking platform, Black Banx has sustained itself as a prominent figure in the fintech industry. Led by German billionaire Michael Gastauer, the digital bank offers services to customers in 180 countries, operating with 28 different currencies, with the added bonus of two cryptocurrencies.
Understanding his passion for wanting to make the world a better place at only a young age, Gastauer has used his years of financial experience and education to put this into effect. By creating a borderless financial service, Black Banx allows customers to access their funds from anywhere, create interest bearing savings accounts in four major currencies and perform almost instant international transfers. Furthermore, due to their easy sign up and lack of physical branches, Black Banx enables those who previously haven’t had a bank account, but have a smartphone or access to the internet, a chance to be financially included for the first time.
What Features Does Black Bank Offer?
- Debit card that can be used worldwide
- Individual and business accounts in a wide range of government-issued currencies
- International payments using local instant payment settlement systems where possible
- 24/7 currency exchange services
- Interest savings accounts in EUR, JPY, GBP and USD
- Access to real time crypto trading services
- Batch upload or API to execute a large number of payments for business customers
In addition, crypto customers can access services not usually available at traditional banks. Black Banx offers crypto users complete control over their assets, allowing them to use their crypto balance to pay third parties directly from the banking platform. Interestingly, customers don’t have to keep their crypto assets in their Black Banx accounts, they are able to remove their assets into a separate cold wallet if desired.
The Black Banx Mission
Gastauer created Black Banx as an answer to financial exclusion and the lack of crypto basics working alongside everyday banking. In a statement, he said: “Having access to financial services is a necessity for populations in this day and age, especially with the increase in globalisation. I made Black Banx as a way to commit to the flow of money around the world at a fair price. Customers are at the heat of everything I do and the Black Banx Group continues to build a global, borderless platform which feels personal to everyone and will serve as a trusted tool to manage and grow customer funds.”
Key Regions
Black Banx has a substantial presence in nations across Asia, Latin America, North America, the Middle East and Europe. Headquartered in London, its international network covers markets accounting for approximately 90% of the global GDP, trade and capital flows. Gastauer added, “Throughout our history, we have been where the growth is, connecting customers to opportunities. We enable businesses to thrive and economies to prosper. Demand for cross-border services is being driven by globalisation with larger numbers of people living and working abroad or remotely. As a result, people are having greater monetary needs. Customers require global transactions, in real-time with low fees and traditional banks simply can’t provide what they need.”
The Key Regions Black Banx Operates in are:
Asia Pacific (33%), Latin America and Caribbean (28%), North America (21%), Middle East Africa (12%) and Europe (6%). This is where the company generates the largest portion of their revenue.
Black Banx is having a profound impact on the nature of banking and Gastauer continues to establish the company as a well-respected figure in the digital banking industry. With the competitive nature of fintech, and having to go against giants such as Revolut and Monzo, Black Banx establishes its prominence with its cutting edge approach to crypto. Since its launch by Gastauer in 2015, Black Banx has amassed over 20 million customers with offices in the majority of major cities around the world.
You can sign up to Black Banx here.
