Swiss corporate challenger bank Initium enters fintech arena

Tuesday 12 February 2019 00:46 CET | News

Switzerland-based Initium has been unveiled with plans to build a multi-jurisdictional corporate banking group.

The company is targeting the new digital economy, including fintech, blockchain and crypto. A lot of its website is spent discussing this economy or globalisation.

In terms of details, it wants to create a fully licensed bank, and has started the first of three rounds of investment.

On its website, it will offer deposit taking, local payment clearing, card issuing and acquiring, and liquidity services.

In Q2 2019, Initium will build its global infrastructure, incorporate a Liechtenstein legal entity and commence its banking licence application.

In Q3 2019 it will launch a security token offering to close its first funding round. Next year, in Q1, it will launch in the European Economic Area – subject to getting that licence in Liechtenstein.

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Keywords: corporate, challenger, bank, Initium, fintech
Countries: World