A Crypto Bank Is The New ‘Multi Billion-Dollar Idea’ One Australian Entrepreneur Has

Meet Fred Schebesta, a 26-year old entrepreneur from Australia who is known for co-founding the comparison website called Finder.com. According to Schebesta’s new plans, a crypto bank based in Australia would trigger the growth of cryptocurrency and help people to secure their investments in an official institution.

In an interview with the local Australian news website News.com.au, he said that he didn’t care about the current price of Bitcoin. As he told the news portal, people have been calling Bitcoin a bubble all the time – when it was worth $10, $100 and even $1,000.

One of the main reasons that makes people think that the interest in Bitcoin is much smaller nowadays is the big volatility. However, Shebesta explained that people are only upset about the decline – which is far from them losing interest in the cryptocurrency.
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As he said:

“We just saw a massive spike in retail investors coming on board. That’s why everyone bought and they sold and everyone’s really angry,”

Schebesta also said that he is a “time traveler” which is why he has been successful. According to him, the future is near and he can “see it” which is why the new bank idea is, according to him, a project that is feasible within the next 18 months.

He also addressed the importance of crypto adoption:

“As crypto adoption takes off … people are going to [need] certain services [like] custodianship, cold storage, escrow, exchange and spending.”

Schebesta concluded that people will soon realize the importance of cryptocurrencies, especially after they start facing more issues with traditional financial institutions. This, according to him, will “be-all and end-all” which is why he is hedging his project Finder.