“People want to invest in new, emerging asset classes, but they can’t because the industry simply hasn’t evolved to make it possible. The process is too complex, too expensive and too insecure. We launched EQIBank to solve these problems, redefining the boundaries of banking,” explained Jason Blick, Director and CEO, EQIBank
EQIBank was founded by former HSBC, Credit Suisse, Bank of New York and UBS bankers with over 240 years of combined experience in banking, financial services, exchanges, asset management and blockchain technology. It will open its first accounts in December 2018 and is currently taking customer applications.
EQIBank acquired its banking licence in September 2018 to become the world’s first licenced and regulated bank to provide customers with a single banking relationship for their entire national currency, crypto and digital asset ecosystems. Instead of having to form multiple relationships with separate financial institutions, customers can access a comprehensive suite of services including clearing and settlement, trading, custody, lending, and banking.
The EQIBank ecosystem utilizes EQI Tokens across all levels, and token holders are eligible to become EQIBank members. A minimum of 5,000 EQI Tokens must be deposited into EQIBank’s escrow account after passing EQICheck – their bespoke KYC/AML platform – to become a member.
Multiple levels of membership offer varying benefits and services, and a customer can upgrade their membership by increasing the number of EQITokens they have in the escrow account.
EQIBank is the world’s first licenced bank with an integrated exchange. This facility allows clients to access crypto assets without having to leave the EQIBank ecosystem. EQI Tokens act as a medium of exchange and are used for fee settlement. Depending on a customer’s level of membership, these fees can be reduced by up to 90%.
EQIBank offers its customers the opportunity to become lenders in its ecosystem. The EQI Token is used to pay the fees incurred from lending and to buy and sell loans made on the platform. Customers must be qualified account holders with a minimum of 10,000 EQI Tokens in the escrow account.
A service reserved for Gold members and higher, custody accounts provide protection against loss and theft. Custody account fees can be settled with EQI Tokens. A minimum of 25,000 EQI Tokens in escrow is required for this level of membership, and customers can increase their custody limits by upgrading their membership tier.
EQIBank is the first licenced bank to deliver on blockchain’s potential. By leveraging the power of distributed ledger technology, it provides clients with an advanced digital platform for all of their national currency, crypto and digital asset needs. Quite simply, EQIBank offers the most comprehensive financial services ecosystem in the world.
According to an official press release, EQIBank will be joined by EQIBank Asia and EQIBank Europe onshore services in 2019.
To open an account, visit https://eqibank.com