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You are at:Home » Michael Gastauer Reboots Banking with digital banking platform Black Banx
Industry Viewpoint

Michael Gastauer Reboots Banking with digital banking platform Black Banx

Black Banx offers real-time money transfers in 28 different FIAT and 2 cryptocurrencies.
Rakhi ShahBy Rakhi ShahNovember 8, 2022Updated:November 8, 2022No Comments5 Mins Read
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Michael Gastauer Reboots Banking with digital banking platform Black Banx
Michael Gastauer, Founder of Black Banx Group.
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Michael Gastauer is shaking up the banking industry with Black Banx, his digital platform is set to reboot the world of online finance. The 2015 launched Black Banx appears to be faster, more user-friendly, and more secure than anything that has been developed before. With Black Banx, Gastauer is looking to take on the big banks and change the way we bank for good.

Black Banx is an online banking platform that offers users a host of features and benefits that traditional banks simply cannot match. For starters, Black Banx has no monthly fees or hidden charges. What’s more, Black Banx offers instant international payments, meaning you won’t have to wait around for days to get the money you need. Black Banx also comes with a built-in budgeting tool that can help you keep track of your spending and ensure that you always have enough money in the bank.

Black Banx is Gastauer’s answer to the big banks who he believes have been taking advantage of customers for too long. With Black Banx, Gastauer and his 2,500 employees are looking to level the playing field and give people access to the same financial opportunities that have been reserved for the wealthy for far too long. Black Banx is sure to change the way we bank forever.

The Journey of Black Banx

With more than US$1 billion in revenue per year and over 18 million customers, Black Banx is the industry-leading FinTech platform on the market with real-time money transfers being able to be traded in 28 different FIAT and 2 cryptocurrencies. Black Banx has been created with the customer experience in mind, which is something that Michael Gastauer strongly believes is missing from many other banking systems. The user interface has been designed to be as simple and straightforward as possible, with all of the features and benefits that users need being easily accessible.

Gastauer is the founder of Black Banx Group, a financial institution headquartered in London with offices in Europe, Asia, North America and Latin America. In 06/2018 it was ranked amongst the fastest growing companies, less than four years after its inception, at US$ 9.8 billion valuation. Current speculation values it at $50 billion when sold or taken public which would make Gastauer one of the 25 wealthiest people on earth according to the Forbes Billionaire list (10/2022).

Who is Michael Gastauer?

Michael Gastauer, originally from Germany, created his first company- a Swiss Asset Management firm at only 24 years old. In less than three short years, the business had acquired over US$ 1 billion customer assets under management and was sold for  US$16m to a  prestigious Swiss Investment firm. Gastauer then went on to create an online payment system in early 2000, one of the first in Europe that offered global card acceptance and payment processing solutions for eCommerce sites as well as other fast-growing businesses at the time. He led the charge in growth and profitability until 2008 when it eventually hit a US$480m valuation before being sold off.

After selling his second business, Michael Gastauer founded Gastauer Family Office (GFO), a single-family office with US$10 billion in assets under management. The Gastauer Family Office’s venture capital arm invests in FinTech companies. Michael Gastauer is the Founder and Chairman of the Gastauer Foundation. This non-profit organisation provides financial inclusion to reduce the problem of 2.2 Billion people having no access to financial services.

What’s Next for Michael Gastauer’s Black Banx?

Two years ago, in response to the climate crisis, we at Black Banx devised a new approach. Our goal is to become net zero by 2030 meaning that across all of our direct and indirect emissions, we will produce no carbon footprint. We have also committed ourselves to align all of our business activities with the goals and timelines set out by the Paris Agreement. With this initiative, we hope to be thoughtful and transparent about addressing the climate challenge while progress can be measured along the way.

Our climate strategy, target achievements, and progress reports are outlined in this document. Furthermore, it establishes the areas in which our group has continued to develop its approach. To help our employees easily understand and integrate the necessary changes into their daily routine at work, we have formulated three simple principles. The outbreak of COVID-19 introduced a widespread change in working practices overnight which acted as a catalyst for us to define these three principles:

Stay at home – we are motivating employees to work from home which ultimately results in a reduction of fuel combustion and energy consumption. As a positive side effect employees can often eliminate lengthy commutes to work and back, and spend more time with friends or family.

Go digital – we are working hard to eliminate business travel by replacing meetings with video calls, which saves valuable working hours and massively reduces fuel usage.

Work from anywhere – reducing office space to a regulatory and operational minimum is a key component in minimising energy consumption and waste produced. In combination with our “Stay at home” strategy where less office space is needed, we are aiming to reduce our office space by 95% by the end of 2025.

Read Also: Bottlepay, a Bitcoin Payments FinTech Startup, Raises $15 Million in Seed Funding

Banking & Payment Crypto Banking FinTech
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Rakhi Shah
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R Shah is a journalist and writer based out of Delhi, India. She is an Economics graduate from Delhi University. She can be reached at R.Shah@alexablockchain.com.

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