NextBank, the bitcoin bank due to launch in 2016, has declared that it is putting a halt to its public crowdfunding campaign after reaching a total investment capital of $2.35 million.
Until recently, the next-generation bank had raised $0.95 million, made up from contributions of private angel investors (one of which invested $330,000) and $600,000 from NextBank founder Dim Voloshinsky; however, it recently announced that it received $1.4 million in funding for 4% of the company from 2 European venture capitalists. Individuals and companies that have invested small amounts are being given the option of remaining as minority shareholders or receiving a full refund of their investment. The company has decided to continue its funding by focusing on venture capitalist options to ‘ease the concerns of the public’ – perhaps due to raising only $20,000 from the majority of investors.
When launched, the bank aims to provide the fastest account opening process and instant bank transfers, with all its services in over 25 languages. NextBank will aim to provide advanced banking services for bitcoin and cryptocurrency users globally with options to support more than 75 currencies and precious metals. Also available will be international debit cards, escrow service, currency exchanges with minimal conversion rates and other options to assist in quick and easy banking on a global scale for digital currencies and traditional currencies alike. Pre-ordered accounts are still on offer on the NextBank website.