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Can Bankera Succeed as the First Purely Digital Blockchain Bank?

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Bankera, a forthcoming digital banking platform conceived by London-based cryptocurrency solutions provider SpectroCoin, has collected some €45 million in total from over 38,000 backers since opening its pre-initial coin offering (ICO) late in August of 2017. SpectroCoin was founded by Lithuanian entrepreneurs: Vytautas Karalevičius, Mantas Mockevičius and Justas Dobiliauskas. Bankera is the brand name of the British Virgin Islands holding company Finalify Ltd.

Bankera hopes to raise €177 million in total by the time it sells off 2 billion of its banker tokens, or BNK, through its ongoing ICO launched on November 27, 2017. At January 2, 2018, Bankera claims to have sold over 1 billion tokens. SpectroCoin plans on using that capital to build out its vision of a “bank for the blockchain era,” one that can provide all the financial services of traditional brick and mortar institutions without the encumbrance of legacy systems that typically hamper the adoption of emergent financial technologies.

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Saudi Aramco and PIF See Opportunities in Russia

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Saudi Arabia’s Public Investment Fund (PIF) is currently exploring opportunities within Russia. PIF is working with the Russian Direct Investment Fund (RDIF) on a number of fronts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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HNA Group Aims to Shrink and Sell

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Chinese conglomerate HNA Group is on a selling spree due to an order from the government in Beijing to scale back on debt. HNA Group joins Anbang Insurance Group and Dalian Wanda Group in deleveraging from global assets, particularly in hotels and real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Central Bank of Hungary Buys Mounds of Gold

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In October, the Central Bank of Hungary (MNB) boosted its gold reserves by 10 times, from 3.1 tons to 31.5 tons. This was revealed on October 16, 2018. The gold acquired by the central bank in October has a holding value of US$ 1.24 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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