The Spiraling Effect. The banking sector is already changing. We are now living through and witnessing—in real-time—completely new ways of handling and managing money; providing significant new opportunities for online banks and crypto- based solutions. To get there, you have to start with a bank.
As cryptocurrencies stabilize they will eventually become online banks. And Kraken, a leading crypto platform, has already done it and there are several others not far behind them.
Beware, however, that being a first mover is not a guarantee of success—as a crypto only firm they still lack the necessary vision to realize the shear size of this opportunity. To them and others like them I provide notice that "You either have a seat at the table or you are on the menu."
This new breed of banking will provide more ways to transact and better financial products for corporate customers through blockchain and other products.
Again, to get there, you have to start with a bank.
Credibility and trust are paramount. Branding, credibility and trust must exist in any market situation where trades occur regardless of asset.
Acquiring a bank charter requires extensive planning and a significant investment in time and money.