Blockchain Banks Rating 🏆 — 15 Top Fintech Startupsby@KirBezverhi
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1,043 reads

Blockchain Banks Rating 🏆 — 15 Top Fintech Startups

by Kirill BezverhiJuly 31st, 2018
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20 billion dollars can save the world banking industry by 2022 due to the integration of <a href="" target="_blank">blockchain</a> <a href="" target="_blank">technology</a> into operational activities. This information is provided by the consulting company Accenture. Despite the fact that six months ago the big bankers had a negative attitude to the blockchain, in recent months, there have been a lot of news that the largest banks are sending millions and tens of millions of dollars to integrate the blockchain into their businesses.
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20 billion dollars can save the world banking industry by 2022 due to the integration of blockchain technology into operational activities. This information is provided by the consulting company Accenture. Despite the fact that six months ago the big bankers had a negative attitude to the blockchain, in recent months, there have been a lot of news that the largest banks are sending millions and tens of millions of dollars to integrate the blockchain into their businesses.

At the same time, there are many startups that are striving to make a blockchain bank, something that, on the one hand, will take benefit of the advantages of both classic banks and the transparency of blockchain technologies.

We analyzed all startups making blockchain banks or a payment system with a product line similar to that of banks, and made a rating. It includes both those projects that attract or have already attracted money through the ICO, as well as startups that have raised capital from venture investors.

We did not include in the sample Utility Settlement Coin and Fintech consortia of large international banks and such large startups related to transfers and banking, like Ripple and BitPay. The sample includes relatively new and promising startups starting from scratch on the money of private or institutional investors.

We assigned a rating to each project based on parameters such as:

  • Project development
  • Team experience
  • Product Competitiveness
  • Growth potential
  • News background

Blockchain Bank Startups Rating

  1. 🥇OmiseGO — HQ: Singapore | Raised: $25 mln.
  2. 🥈Revolut — U.K. | $250 mln.
  3. 🥉Zamzam — Turkey | No data
  4. Hold — Lithuania | $14 mln.
  5. MenaPay — Turkey | No data
  6. Crypterium — Estonia | $51.6 mln.
  7. UTRUST — Switzerland | $20 mln.
  8. Bankera — Lithuania | $150.9 mln.
  9. CoinsBank — U.K. | No data
  10. Humaniq — U.K. | $5.2 mln.
  11. TenX — Singapore | $80 mln.
  12. Paygine — U.S. | No data
  13. Wirex — U.K. | $3.2 mln.
  14. Hada DBank — Malaysia | $3 mln.
  15. Bitwala — Germany | No data


Rating: 4.8 / 5

The technology, which the project develops, allows users to combine currency exchange and payment services in real time. The buyer pays the account in a convenient currency, and the recipient is credited with funds in a convenient format for both the currency and decentralized cryptocurrency.

The idea of ​​the product is to create a platform for developing applications that will allow any user of the project to send funds through the network without having a bank account and paying a commission. The project has many strong strategic partners, including Vitalik Buterin. While OmiseGO created only an SDK wallet, where users can exchange cryptocurrency for fiat money.

Country: Singapore | Raised: $25 mln. | Web:


Rating: 4.6 / 5

The emphasis is on the lack of commissions for transfers and exchanges. The project is positioned as a mobile application in which users can store cryptocurrency and fiat money, as well as quickly convert Fiat to crypto and vice versa. Plus, it will be possible to pay using the Revolut card in any region of the world.

The downside of the project is that there is only the possibility of converting Fiat to cryptocurrency within the wallet, and it is impossible to withdraw the cryptocurrency. However, the project is backed by large institutional investors, who invested in the project without an ICO.

Country: U.K. | Raised: $250 mln. | Web:


Rating: 4.5 / 5

Zamzam presents a progressive ecosystem of financial relationshipsbetween people, organizations, and government. The project is developing blockchain bank with digital banking license with mobile bank app with revolutionary feature. Zamzam states that all you need is to type in the phone number of the receiver, the payment amount and that’s it. The money will be transferred even if the receiver doesn’t have a Zamzam wallet yet.

The project’s advantages are a strong team and lobbyist power in different countries. The latter is very rare issue among blockchain projects and very useful in terms of project integration in the regulated banking system.

Country: Turkey | Raised: No data | Web:


Rating: 4.5 / 5

The service provides an account and a card. The account holder can receive an instant transfer of its cryptocurrency assets to Fiat by providing a short-term loan at a fixed rate. Conversion of the cryptocurrency at the loan and its return occurs at the current rate. The project is a kind of bank merger and P2P lending.

But this is the main disadvantage of the project, since the process of this merger is not detailed and is not worked out in detail. The platform was not released. In addition, by the rules, the borrower of the system must immediately pay interest on the loan, which makes the product uncompetitive.

Country: Lithuania | Raised: $14 mln. | Web:


Rating: 4.4 / 5

The first fully backed blockchain based payment gateway in the Middle East. MenaCash is developing the most holistic and disruptive solution yet seen to tackling the major ‘financial system dilemmas’ facing consumers wanting to buy online, transfer money or to simply acquire cryptocurrencies.

Country: Turkey | Raised: No data | Web:


Rating: 4.1 / 5

A crypto bank, which offers to open an account and create a virtual card for adding to payment applications for NFC — a system for wireless payment for goods and services, when users need to use a mobile with a special device. Using the account of Crypterium it is possible to transfer cryptocurrencies, which will be converted into fiat upon payment. This virtual card can be used for payments in any store that supports NFC.

The downside is a high commission of 0.5% on any transaction, and also that the main part of the declared development plan remains unrealized.

Country: Estonia | Raised: $51.6 mln. | Web:


Rating: 4.0 / 5

The Utrust platform is a payment processor solution that enables merchants to accept multiple cryptocurrencies from buyers as payment methods while receiving in fiat currency. For buyer project will minimizes the risk of scams and fraud by providing a full payment protection and acting as a 3rd party mediator.

Asfor the seller, Utrust gives an opportunity to accept multiple cryptocurrencies at once in such way that all received payments will be converted to fiat currency to protect seller from market price fluctuations.

Country: Switzerland | Raised: $20 mln. | Web:


Rating: 3.7 / 5

One of the most successful banking ICOs, which has raised more than $150 million. They have developed several products: a wallet, a debit card, a processing system for accepting payments for business and an exchange. It is embarrassing that the ICO was completed in early 2018 and in the last six months there is no progress on the development of the project. As a result, the price of the tokens has fallen by more than 80%.

Country: Lithuania | Raised: $150.9 mln. | Web:


Rating: 3.6 / 5

The project works simultaneously on several differently directed services — from a multi-currency wallet with a mobile application to internet acquiring of a crypt for business and a crypto exchange.

The initiator of the project is Wirex, which is also in this rating. The downside of the project is a lot of complaints from users that are associated with high commissions and long terms of transactions.

Country: U.K. | Raised: No data | Web:


Rating: 3.4 / 5

Humaniq is a financial ecosystem built on blockchain focused on simply and quickly connecting unbanked people to the global economy. It combines a blockchain bank as a core platform for financial services and technology start-ups, biometrics that replaces passports and signatures, ICO and distributed ownership instead of shareholders, and an investment fund for third-party startup acquisition and acceleration.

The project has raised through the ICO in April, 2017 more than $5 mln., but since then MVP still wasn’t released and the future of Humaniq is uncertain.

Country: U.K. | Raised: $5.2 mln. | Web:


Rating: 3.3 / 5

TenX is a very ambitious Singapore-based startup that aimed to bring blockchain to the real world, get a banking license and issue customers debit cards. The project also developed cryptocurrency wallets, as well as applications for Webapp, iOS, Android.

The market cap of the project once was near $500 mln., but right now its near $100 mln. The reason for the drop in the price of the token is that WaveCrest, its bank parner, suddenly lost Visa’s license as a debit card issuer. Since then, TenX has not solved the problem.

Country: Singapore | Raised: $80 mln. | Web:


Rating: 3.1 / 5

The team is creating a blockchain based platform based on the Fast2Pay project for developing corporate solutions for operations with cryptocurrencies. Paygine is not a payment service, but rather a platform for creating payment applications. By the disadvantages of the pro-plan, user can include not an elaborate development plan, but also a nearly 100% Russian-speaking team, which usually raises concern on the market except for IT specialists.

Country: U.S. | Raised: No data | Web:


Rating: 3.0 / 5

A blockchain bank with a goal of creating a platform for storing both fiat money and cryptocurrencies at the same time. The project did not conduct an ICO, but collected $3 mln from several venture funds.

The team is working on the project since 2015. Wirex is criticized for the large number of system failures. Periodically, the data of user accounts is changed. In addition, delays in issuing physical bank cards are not uncommon.

Country: U.K. | Raised: $3.2 mln. | Web:

Hada DBank

Rating: 2.4 / 5

The project’s slogan is that Hada DBank is the first digital bank to fuse the Islamic banking module with blockchain technology. The platform is aimed at providing Islamic banking methodology based on financial laws that guards enterprises. The platform offers maximum liability to assets at a ratio of 1:3.

The downside of the project is that the process of this merger is not detailed and is not worked out in detail. The platform was not released.

Country: Malaysia | Raised: $3 mln. | Web:


Rating: 2.3 / 5

The Bitwala team is creating a banking service that would allow accounts to be created simultaneously for a large amount of fiat money and cryptocurrencies and issue debit cards for payment of goods and services.

In early 2018, Visa froze the partner bank Bitwala cards through which card issuance was planned. Since then, the team has not yet found an alternative partner.

Country: Germany | Raised: No data | Web: