German FinTech company receives $13.7 million in funding to build a borderless bank using blockchain

     Bringing the concept of borderless banking combined with blockchain technology to ordinary mainstream consumers sounds like a fantasy, but there are already companies taking action. A German FinTech company recently launched the ambitious Project 26, hoping to use blockchain technology to bring the company's financial services to six other European countries.

     The FinTech company has launched a new plan to fight against the traditional banking ecosystem and will focus all its efforts on Plan 26. Once the plan is completed, customers will be able to use the company's latest solution to complete bank account opening, MasterCard registration and other services using their mobile phones, and the whole process will only take 8 to 10 minutes.

Currently, the FinTech company has 8,000 customers in Germany and Austria . In the future, the company's services will be expanded to Greece, France, Ireland, Spain, Slovakia and Italy, and the number of customers will increase several times.

Currently, Plan 26 has attracted the interest of many investors and venture capital institutions. The company has also raised $13.7 million in investment, and will use this huge amount of money to carry out its expansion plan in European countries and build a borderless bank.

Valentin Stalf, founder and CEO of FinTech , said:

     “Our ambition from the beginning was to build Europe’s first smartphone bank. We believe that traditional banks are not fully adapted to the needs of the digital age. Plan 26 is great and we are excited to expand into the market further. ”

     However, building a borderless bank in Europe is no simple task. Many European banks are plagued by stultifying bureaucracy and outdated technology. While people are looking forward to FinTech ’s Plan 26, it is still impossible to completely avoid the legacy problems of the existing banking system. Plan 26 has not yet received official approval, but this will not stop the startup’s ambitions.

     When Bitcoin users are told about borderless financial services, they will naturally think that blockchain technology should be the best choice. However, for ordinary consumers who do not know Bitcoin, they do not seem to be very enthusiastic about borderless financial services because they do not believe in this technology. FinTech companies are in urgent need of changing people's inherent mindset. Although change takes a lot of time, taking one step at a time will always win the final victory.