The man behind Black Banx’s revolutionary journey, German billionaire Michael Gastauer, is not your usual CEO in the financial industry. He has a clear vision of a digitally-integrated financial world that he’s trying to materialize one step at a time.
To establish Black Banx as an innovative financial business with an international presence, Gastauer was key. Under his leadership, the business quickly became known for its innovative approaches and customer-first outlook.
The Black Banx Group gained 33 million additional retail customers and generated USD 1.5 billion in revenue in the initial nine months of 2023—the biggest profit and revenue since the company’s establishment in 2015.
Gastauer was at the forefront of the development and launch of cutting-edge financial services and solutions that have elevated customer expectations. Following trends such as cryptocurrencies, he aimed to create a digitally connected financial environment.
Because of this vision, the USDT option is now available to users on Black Banx in addition to Bitcoin and Ethereum. There are three options available to Black Banx users who want to transact BTC quickly and settle USDT: Tron/TRC20, Lightning Network, and Solana.
Black Banx’s foreign market penetration was made possible by Gastauer’s strategic perspective, which strengthened the company’s worldwide presence.
Asia Pacific, the Middle East and Africa, North America, South America, and the Caribbean are the main geographical areas from which Black Banx operates. These areas are where Gastauer intends to make his vision for a digitally-integrated financial world possible.
Black Banx has opened a subsidiary in Monrovia, Liberia, to concentrate on offering digital banking services to the West African market, considering that 45% of adult Africans lack access to financial services.
Moreover, offices for Black Banx were successfully established in Singapore, South Africa, Japan, China, Brazil, India, and the United Arab Emirates (UAE). Black Banx intends to expand into the North American market with the acquisition of a federal bank by Gastauer in California.
In focus: Gastauer’s vision
Gastauer envisions an extensive restructuring of the financial sector that goes much beyond the boundaries of conventional banking.
Promoting financial inclusion: Regardless of geography or socioeconomic standing, Gastauer sees a financial world in which no one is left behind. His goal is to provide inclusive and easily accessible financial solutions that will empower people and companies everywhere.
Smooth cross-border transactions: Gastauer sees a global financial ecosystem in which sending and receiving money is as easy as sending an email. He acknowledges the drawbacks of traditional cross-border transactions. His dedication to removing the expenses and obstacles related to overseas remittances serves as the foundation for his goal.
Digital banking transformation: According to Gastauer, traditional banking will be fully digitalized, doing away with physical branches and paperwork. His goal is to establish an ecosystem in which people may use their laptops or smartphones to access financial services.
Sustainability and social responsibility: Gastauer envisions traditional banking being fully digitally transformed, doing away with physical branches and paperwork. His goal is to establish an ecosystem in which people may use their laptops or smartphones to access financial services.
Gastauer’s concept of a financial world that is digitally integrated signifies a major shift in how we deal with and handle our financial assets. It’s a vision that is propelled by ease, security, inclusion, and a commitment to creating a more just and sustainable future for people and businesses everywhere.