Forty Seven

2017-12-16 - 2018-05-17
Industry: Banking & Payments


Softcap: 765,957
Hardcap: 11,063,829

Forty Seven

Forty Seven Bank will be a fully digital innovative branchless financial institution which complies with all EU directives, Basel III, Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England requirements.

The bank is going to be specialising in digital finance services by fully supporting cryptocurrencies and traditional fiat currencies. Basic cryptocurrency procedures include sale and purchase features, investment and exchange options and crypto-saving and current accounts. Multi-Asset Account will be one of the featured innovative products oered by Forty Seven Bank – it will allow customers to have access to all their accounts in dierent banks and crypto wallets as well as to their investments and savings in cryptocurrency and fiat equivalents via single application. It will be possible to operate with each asset type accordingly by having only one Multi-Asset Account at Forty Seven Bank.

We will oer unique crypto products like bonds, futures and options. Our goal is to invent such market- place and take the leading position in both short and long-term perspectives. Companies will be able to attract finances via product invented by Forty Seven Bank – Cryptobonds. Cryptobonds will be traded on various exchange platforms (mainly at the one developed by Forty Seven Bank).


Aleksandrs Malins - Chief Executive Officer, Member of the Board
Igors Astapčiks - Chief Operational Officer, Member of the Board
Vladimirs Tomko - Chief Marketing Officer, Member of the Board
Mihails Skoblovs - Chief Financial Officer, Member of the Board
Aristoteles Vargas - Head of Financial Market Development Department, Member of the Board
Anton Azamatov - Chief Technical Officer
Jevgenijs Plams - Blockchain Developer
Edgars Abols - Chief Legal Officer
Lilija Kovaļčuka - Art Director
Jevgenijs Lesevs - Head of Internal Audit
Vitalijs Grundsteins - Project Manager
Kristiāna Štauere - Lead Analyst
Nana Zhang - Community Manager (Asia)
Evgeny Bezgodov - Chief Operational Officer, Deiteriy
Alexander Chernyakevich - Chief Technical Officer, Scand
Morten Hansen - Head of Economics Department, Stockholm School of Economics in Riga
Dmitry Dudin - Head of Products and Services Development Department, XB Software
Artem Kushik - Business Analyst, Crédit Agricole CIB
Igors Danilovs - CFA, Senior Portfolio Manager, Swedbank
Inna Krievane - Financial Analyst, Argus Vickers
Eva Iova - Creative Director, IOVA


October 2016: Elaboration of concept of a modern bank that will work with cryptocurrencies and fiat money.
February 2017: Formation of a team, research, market analysis.
March 2017: Detailed project plan elaboration.
April 2017: Bank’s financial model construction, preliminary calculations.
May 2017: Idea of administering project’s crowdfunding.
June 2017: Preparation of documentation for crowdfunding administering.
October 2017: Start of crowdfunding via Token Launch.
December 2017: Successful completion of Token Launch, summing up.
January 2018: Procedures elaboration and creation of document base for the company.
February 2018: Software infrastructure deployment.
April 2018: Applying for EMI, PI authorisation at FCA.
May 2018: Integration with SWIFT system.
June 2018: Certification according to QSA PCI DSS Level 1 standard.
July 2018: Obtaining EMI, PI licenses, and authorisation for activity from FCA.
August 2018: Launch of services for FSBT tokens holders.
September 2018: Launch of services for private clients.
November 2018: Submission of documents to obtain banking license.
May 2019: Obtaining banking license, launch of services for business clients.
June 2019: Start of providing full-scale banking services.


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