Crypterium is in the Top 50 Digital Only Banks Ranking 2017

This day began with wonderful news — Crypterium entered the list of Top 50 Digital Only Banks Ranking 2017 compiled by Financial IT. Our project was evaluated high enough to be included in this top at an early stage. And we are in good company!

Editors of the rating don’t hide that this list is quite subjective — but their experience is enough to be trusted. The rating itself is made on the basis of three main criteria: media coverage of the digital bank in question; apparent numbers of employees; and an assessment of the total impact of the digital bank.

What ‘key features’ distinguish digital bank from the usual bank, with branches and queues? All you need to use digital bank — is an app or a website. They may offer same products and services, but they are much faster and easier to use.

If you take a look at the list participants, you will notice that the earliest date of foundation is 2011. This means that the trend on digital banking is still very young — and now is the time to work deeper in this direction. Some banks on the list have achieved significant capitalization in just a couple of years — enough to mention WeBank, who took the top line.

It is really important that most of this banks are taking a different approach, or use different technologies. As well as those digital banks selling themselves to actual and potential customers in different ways.

We didn’t try to find an artificial way to differ. It is a merit of the idea and our desire to create the bridge between traditional and crypto world.

Why is Crypterium worthy of being included in this list?

The modern development of the fintech industry requires solutions not of today, but of tomorrow. We look to the future and create it ourselves, do what somebody just dreams about or does not think at all. We believe in our product and it always great to see that experts do it as well.

Vladimir Gorbunov, co-founder and CCO of Crypterium, comments:

Right now, cryptocurrencies are not the financial instrument of choice for paying for the most routine purchases. To use a Bitcoin wallet to pay for a coffee, for example, you would have to send BTC to the exchange for conversion, wait while three confirmations are processed, sell the Bitcoins, and after a while, and at a substantial loss, you would be able to transfer the fiat funds to your card. In some cases, there would be an actual person acting as a courier, who would be responsible for the movement of your money from point A to point B. This falls short of our idea of the current possibilities of blockchain technology and the cryptoeconomy. We are offering something that is much more than a multicurrency cryptowallet — a system for performing operations in which hours of waiting are transformed into five seconds, with no daily limits and no need to wait several weeks for a plastic card to be issued.