BANKEX Announces Partnership With The Entrust Group
BANKEX to assist The Entrust Group with building a platform for their clients to invest their IRAs into Bitcoin and other cryptocurrencies.
We are announcing today a new partnership with The Entrust Group ‘Entrust’. Entrust is a leading self-directed Individual Retirement Account (IRA) administrator. The partnership will develop a digital investment process from start to finish using blockchain and smart contracts for investing in cryptocurrencies.
“BANKEX’s aims to new assets and connect them to the capital markets in a decentralized and frictionless manner. By using the BANKEX platform, Entrust will be able to offer their clients access to cryptocurrencies and other complex asset classes, along with an additional layer of security, which is good news for customers. Allowing customers to have a fully immersive digital experience from beginning to end shows The Entrust Group’s dedication to innovation,” said Igor Khmel, BANKEX CEO and Founder.
BANKEX CEO Igor Khmel is a fintech entrepreneur with experience in product development, operations, and digital strategy implementation. With an MBA from Stanford School of Business, Khmel’s professional track-record includes professional tenures at prestigious organizations McKinsey, Deloitte, and Citadel. Khmel also founded Sberbank Lab, a fintech laboratory, and innovation practice, at the largest bank in Eastern Europe.
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For over 36 years, Entrust has provided account administration services for self-directed retirement accounts and tax-advantaged plans. Entrust assists in purchasing alternative investments with retirement funds that are typically unavailable through banks and brokerage firms. These assets include residential and commercial real estate, secured and unsecured notes, limited liability corporations, precious metals, mortgages and more.
“Partnering with BANKEX will allow our business to evolve to the next stage by offering our clients access to cryptocurrencies as a valuable addition to traditional asset portfolio, which has been in high demand. Utilizing the power of blockchain and smart contracts, our service offering will be scalable in a way that simply would not have been possible otherwise” said Hubert Bromma, Entrust’s Founder and CEO.
The partnership with Entrust will complement BANKEX’s existing stellar board of advisors, consisting of industry experts such as Sergey Sergienko, Founder of Chronobank, Makoto Takemiya, founder of Soramitsu, Nehemia Kramer, an early stage investor in Ethereum, Chris Skinner, a leading financial markets strategist, and Gabriele Colombo, Executive Director of Symphony Foundation, as well as academic advisor Peter Cramton, Professor of Economics at the University of Maryland.
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The crypto-fiat interface will dramatically improve the scalability and security of Entrust’s offering, while allowing their clients to invest in Bitcoin and other cryptocurrencies. Importantly, the same structure and concept can be scaled and customized to handle other asset classes in the future if that is desired. The platform will also allow Entrust or others to build index products, which will then be available for investment to Entrusts clients.
“Working together with Entrust is another step on the journey to bridging the gap between traditional finance and the rapidly developing blockchain sector. We are excited to introduce the pension fund market to blockchain investments, and we are happy to serve the market as whole and Entrust in particular as our first IRA custodian. This first partnership offers tremendous potential, and we look forward to working with Entrust going forward,” concluded Khmel.
After committing $10 million USD in its private contribution period, the BANKEX public presale opened in October, with participants being able to use both Ethereum and Bitcoin. Early contributors receive a 25 percent bonus with the minimum contribution during the current presale stage set at 100 ETH. The public token sale will begin on 28 November. For more information visit http://www.bankex.com/ or contact presale@bankex.com.
