In a world where financial access is still a challenge for many, German billionaire Michael Gastauer has emerged as a prominent figure, driving change and paving the way for a borderless financial system.
Through his visionary leadership and the establishment of Black Banx, Gastauer has transformed the way people and businesses connect, transact, and participate in the global economy.
From venture capital to Swiss Asset Management
Michael Gastauer’s ascent in the finance industry began when he joined a Munich-based venture capital fund.
His time there, however, did not last very long as, at the young age of 24, driven by his entrepreneurial spirit, he founded his own Swiss Asset Management firm. Remarkably, within just three years, the firm acquired over CHF 1 billion in Assets Under Management (AUM).
The success continued, culminating in a successful sale of the company for CHF 16 million to a Swiss Investment firm.
Pioneering online payment systems
Not one to ever rest on his laurels, Gastauer set his sights on pioneering online payment systems.
He founded one of the first Europe-based online payment systems that offered global card acceptance and payment processing solutions for the eCommerce industry.
The company experienced consistent growth and profitability, propelling its valuation to an impressive €480 million before being successfully sold in 2008.
Redefining global online banking with Black Banx
Driven by a vision to simplify online banking, reduce transaction times, and promote financial inclusion, Gastauer launched Black Banx in 2015.
Black Banx’s mission is to unlock a borderless financial system for everyone, where money can flow freely.
It is a financial service platform that connects people and businesses around the world seamlessly via smartphones and online channels.
Bridging financial gaps
Black Banx serves not only well-established economies but also addresses the needs of the underbanked in countries where access to the financial system is limited or where government regulations impede participation in the global economy.
By extending its reach to these marginalized communities, Black Banx empowers individuals and businesses with financial tools and opportunities that were once beyond their grasp.
Embracing the crypto revolution
Recognizing the growing importance of cryptocurrencies, Black Banx became an early adopter.
In 2016, it introduced cryptocurrency as a deposit method, laying the foundation for further innovations. In 2018, the company launched its fully-fledged, 24/7 cryptocurrency trading services, offering popular cryptocurrencies such as BTC and ETH.
This forward-thinking approach has allowed Black Banx to stay ahead of the curve and provide its customers with cutting-edge solutions.
Simplifying cross-border transactions
One of Black Banx’s key strengths lies in its ability to simplify cross-border transactions.
The company offers private and business accounts in 28 FIAT currencies and 2 cryptocurrencies, making international transactions as simple and seamless as local ones.
With this inclusive approach, Black Banx enables individuals and businesses to engage in global trade and capital flows without the traditional barriers.
A global network of opportunity
Black Banx’s impact is truly global. Operating in 180 countries, it has established an international network that covers markets accounting for approximately 90% of global GDP, trade, and capital flows. This extensive reach positions Black Banx as a catalyst for economic growth and financial empowerment on a worldwide scale.
As of 2022, Black Banx boasts an impressive customer base. With 20 million retail customers and 1.5 million business customers, it has successfully transformed the financial landscape for countless individuals and enterprises. Through its comprehensive suite of services,
Black Banx empowers its clients by offering autonomy and the ability to use crypto balances to directly pay third parties, effectively combining the features of a banking platform and a crypto exchange.
Michael Gastauer’s journey from venture capital to the establishment of Black Banx exemplifies his unwavering commitment to closing the global financial access gap.
Through his innovative vision and dedication, Gastauer has revolutionized the way individuals and businesses connect, transact, and participate in the global economy.
Black Banx’s inclusive financial services, coupled with its embrace of cryptocurrencies, have created a platform that empowers millions worldwide. As Gastauer and Black Banx continue to break barriers, they pave the way for a more accessible and inclusive financial future.