Bankera ICO Review – BNK Investment Analysis

ICO Details

Symbol – BNK


When – November 27, 2017

Soft Cap – None

Hard Cap – ~500 Million EUR

Total Max Market Cap At ICO – ~500 Million EUR(~200 Million Circulating)

Exchange Rate: Variable based on total raise:


Total Tokens in Circulation At ICO – 25 Billion BNK



Bankera is essentially the next evolution of blockchain banking – Bankera attempts to bridge the gap between traditional systems and crypto-enabled infrastructure by creating a blockchain based bank, which will be the first true bank of its kind. Bankera notes several current issues with other projects, such as their focus on one or several aspects (as an example, lending, remittance, investing) but having no blanket solution for all. Bankera hopes to fill this space in with their project by creating a blockchain bank built on their three pillars of investment, payments, and loans.

On the investment side, users who are participating in the Bankera platform will have their money invested in ETF’s and index funds, to grow their money and beat inflation rates while their cash is unused. Users will be able to trade these index backed currencies directly with each other, thus lowering overall fees of the network and stimulating the crypto space as a whole (the additional value gained from such investments doesn’t hurt either.)

Payments and loans are also a relatively simple concept, but Bankera leans more towards traditional fiat implementations of this system. Compared to projects such as SALT (which are asset-backed loans), Bankera aims to create a system of credit with which to lend to users and collect at a later date. This credit, while an interesting an untested concept in crypto, does have plenty of extensive use and historical precedent in traditional fiat markets.

The potential impact of technological development in finance is one of the hottest
topics today. Many start-ups are trying to revolutionize financial services. However,
they mostly focus on a niche and cannot take advantage of economies of scale, whichis one of the main advantages enjoyed by traditional banks that may not be as
technologically advanced.

Bankera plans to achieve the scale to offer traditional and
emerging banking products in a technology driven Blockchain era environment,
eventually becoming the one-stop shop for all banking requirements.



Egle Eidimtaite

Egle has 3+ years of experience in business development from the e-gaming industry. Before entering the corporate world she worked at the European Parliament.

Lon Wong

President, Foundation, CEO, Dragonfly Fintech A serial entrepreneur with more than 30 years’ experience, Lon is a blockchain thought leader and heads the NEM blockchain project. He is particularly interested in designing blockchain solutions for the financial industry at large and helped developed NEM to be a leading financial blockchain solution today.




Bankera is a useful concept for a few reasons – firstly, is the fact that they truly want to compete with triple A banks and deliver on a professional service and quality that is expected of most present-day financial institutions. The fact that they are simply taking what already works from the current financial industry and co-opting it towards blockchain (as well as decentralizing many aspects of it) is a definite plus in my book. As far as concepts goes, this is a tried and true one that as of yet has not seen a good contender in the crypto space.

Another good aspect of the project is their MVP – Spectrocoin has impressive statistics as far as their userbase and monthly volumes are concerned, handling around the neighborhood of 400’000 clients served and half a million Euros of volume each month. An ICO investor that is particularly interested in MVP’s will find the Spectrocoin offering to be a complete package that goes above and beyond what most would expect in the blockchain space.

The aim of the ICO is not to test a speculative idea, but to provide the capital to enable Bankera as a product to expand its existing services to compete with existing banks as an equal across all areas of operation including payments, lending, currency exchange, and investments. We encourage supporters to try Bankera’s services before participating in the ICO.


Bankera had a large presale. An insanely large presale. 25 Million Euros worth of crypto and fiat went to the coffers of Bankera in a bid for just 10% of total tokens. Extrapolating the data, this would put the total valuation of Bankera at 250 Million Euros – hardly worth investing in if you’re short or long term. While I expect most of the tokens will be locked (as only 30% will go out to the public with 10% additionally from presales circulating), it’s still a massively large project from the get-go that makes me balk at the fact that they already raised the maximum cap of your average ICO and are still asking for more.

Secondly is the large pre-sale discount that investors got if they bought into it. If the fact that 25 Million Euros wasn’t enough, investors received a large 70% discount on their tokens, and with no mention of locking or vesting periods for these tokens, means that this will almost certainly be an easy flip for pre-sale investors, burning ICO investors in the process.

Bankera will create short-term finance products to bridge this cash flow gap for
businesses. As a payment processor, Bankera will have an advantage over banks
because Bankera will collect live information about expected incoming payments.

This will facilitate Bankera offering credit for businesses secured against expected future cash flows.

Finally, is the fact that Bankera is truly attempting to emulate a legacy bank. This strikes at the very concept of Bankera itself, but it will likely be a large downside in the future. Banks conceptually work because they operate in a fiat system where new money can always be printed. This way, if 10 dollars exist in a system, a bank can lend out 100 and expect to be paid 100 at some point in the future. With cryptocurrency, things like Bitcoin are simply capped and will never inflate to pay back loans. This causes a few interesting questions with the lending model that are a core part of Bankera’s business. How will they get paid interest on capped currencies? Why would they lend it in the first place? How will they enforce “expected incoming payments” as a security if those incoming payments from a client don’t come in?



Despite the interesting applications and simple “one-stop” solutions proposed by Bankera, this is ultimately one of the largest ICO sales to date and cripple this project’s short-term potential. It makes more sense than most other ICO’s as far as valuations are concerned (as most of the funds will be locked to serve bank functions), but the fact that pre-sale investors bought in 25 million Euros worth of tokens at a hefty 70% discount (at cheapest prices as well – at average 20 cents per Banker it means presale buyers got 100% off) means that there will likely be nothing but consistent selling pressure of the BNK tokens. Avoid this ICO.

Investment Grade: 60%

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