Is this the first crypto bank?

Fred Schebesta co-founder of has anounched that he wants to open the world’s first crypto bank in Australia. Schebesta is one of Australia’s youngest millionaires and is not planning to stop there. 

He says he has found his new passion in blockchain and makes a remarkable announcement saying that he doesn’t care for the current price of bitcoin. He even has his own talk show in Sydney in which he makes these statements. 


Fred thinks that the price decrease of bitcoin is not because people lose interest but because people are angry. He says the interest in cryptocurrency is growing, “I was at a crypto confrere with 8000 other people, it took 30 minutes to get in the elevator”. These large numbers of groups where unthinkable a couple of years ago. 


Fred wants to open his crypto bank within 18 months and he wants to partner up with a Australian bank. He needs to do this because he needs an ADI Authorised Deposit-taking Institution permit. He has even purchased stocks of Goldfield Money a small bank in west Australia that has this permit.