Novogratz will launch the first cryptocurrency commercial bank

nRunaway Comment: Legend Stakeholder Michael Novogratz will be listed on Galaxy Digital Holdings, the first cryptocurrency commercial bank, with the Vancouver pharmaceutical company Bradmer Pharmaceuticals Inc. To this end, he invested about 400 million US dollars in the ether, bitcoin, ICO products and Xapo, Bitstamp, Ripple Labs and other start-ups.n
nTranslation: Annie_Xun
Encrypted currency brings business concept innovation and Bitcoin-based financial instruments. Now Michael Novogratz will start a commercial bank called Galaxy Digital, and only serve the cryptocurrency and blockchain industries.n
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Commercial banks dedicated to cryptocurrencies will reshape the financial sectorn
Michael Novogratz, chairman and chief executive officer of Galaxy Investment Partners, plans to set up and launch the first commercial bank focused on cryptocurrencies and blockchain-related businesses.n
Novogratz has proposed the establishment of a fully serviced digital assets commercial bank that will focus on the following areas: asset management, consulting, principal investment, and more.n
Unnamed sources at Bloomberg said Novogratz “conceived Galaxy Digital as Goldman Sachs in the cryptocurrency space.” In order to achieve this goal:n
Novogratz essentially invests all its cryptocurrencies in the Galaxy, roughly $ 400 million in ether, bitcoin, ICO products, and startups such as Xapo, Bitstamp and Ripple Labs.n
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Digital assets Commercial banks will be set up by a pharmaceutical companyn
According to Bloomberg News, Novogratz is trying to raise $ 200 million to set up a digital assets commercial bank. If successful, Galaxy Digital LP may be listed on the Canadian exchange TSX Venture Exchange by the holding company.n
In fact, the digital asset commercial bank will be set up through the collaboration of Galaxy Digital and First Coin of Vancouver and Bradmer Pharmaceuticals Inc. of Vancouver.n
January 9, 2018 Bradmer Pharmaceuticals Inc. has signed a letter of intent that Galaxy Digital LP and First Coin Capital Corp. will form a new company in the area of ​​blockchain and cryptocurrency. Bradmer Pharmaceuticals Press Release says:n
nProposed Transaction Consider a series of deals designed to allow Galaxy Digital and First Coin to jointly operate Galaxy Digital, managed by top management of Galaxy Digital, under which Bradmer will acquire and hold a small investment in Galaxy Digital, under the Proposed Transaction For Galaxy Digital Holdings and listed on TSX Venture Exchange. “n
nThe rise in bitcoin and other cryptocurrencies will likely continue to encourage investors to create cryptocurrency-based financial solutions. Commercial banks have traded commercial loans, international financing and investment. Now the disruptiveness of Bitcoin will spawn the first commercial bank dedicated to cryptocurrency.n

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