26-year-old entrepreneur Fred Schebesta – co-founder of the site Finder.com, designed to compare various goods and services – wants to open its own crypto bank in Australia. Shebesta believes that interest in cryptocurrencies is growing and people will soon need institutions that can meet their needs related to crypto assets.
In an interview with the Australian edition of News.com.au, Schebesta said he was not too worried about the current bitcoin course. According to him, people called bitcoin a bubble when it cost 10, 100 and even 1,000 dollars.
Because of the volatility of the bitcoin and other currencies, many began to believe that interest in crypto-assets decreased. Schebesta believes that people have not lost interest, but are only frustrated by the sudden drop in the market. He, like other defenders of the cryptocurrency, believes that bitcoin is similar to gold.
“A lot of retail investors have recently joined the process. All began to buy and sell, which caused general anger,”- said Schebesta.
Therefore, we only need to wait for the further development of events. Schebesta added that if people still think that bitcoin is a dummy, they can just send it to him.
The entrepreneur wants to open a crypto bank in Australia and believes that he can accomplish this task in 18 months. Since he needs a license from a registered depository institution, he will unite with an already existing Australian bank. He considers his idea “an idea for billions of dollars” and has already bought shares of Goldfields Money, tk. It is the only bank in Western Australia that has a depository institution license.
According to Schebesta, “when the spread of the cryptocurrency will pick up the pace… people will need certain services like depository storage, cold storage, escrow-storage, exchange and expenditure.” He added that in the near future there will also be a great demand for crypto-crediting.
However, according to Schebesta, Australian banks are afraid of crypto-currency. He considers it dishonest that they stop serving clients who use cryptocurrencies.
People are aware of the importance of cryptocurrency when faced with the problems of traditional financial institutions. Even if the cryptocurrencies do not succeed in becoming a panacea for everything, they will still become a significant part of the financial system. “That’s why I’ve hedged the Finder,” concluded Schebesta.