At the age of just 26 years old, Fred Schebesta is a giant of digital technology in his native Australia. Schebesta is the CEO of Finder.com, a comparison website which operates in ten countries and attracts six million unique visitors per month in Australia alone. Now the charismatic entrepreneur wants to launch his own crypto bank.
According to Schebesta, crypto traders and investors will soon need additional services such as trusted custodianship, cold storage and escrow as the market continues to grow. He’s one businessman who has nothing but confidence in the future of the space. He says that whilst the “massive spike in retail investors” buying the top of the market are “really angry”, he’s convinced people will come back once prices recover and that further growth is around the corner.
Of course there are significant practical barriers to address before such a project could be launched. Any organization will need to be licensed as an authorized deposit-taking institution (ADI), meaning it will most likely need to work alongside an existing bank. Indeed, the only bank in Western Australia which has such a licence is Goldfields Money, with whom Schebesta is building a close relationship. The project, he says, is a “multi-billion dollar idea.”
Schebesta launched digital marketing agency Freestyle Media with partner Frank Restuccia at the age of just 22. After three years of phenomenal growth, the business was sold to Q Ltd for $1.36 million. He and Restuccia then launched Creditcardfinder.com.au, which enabled users to compare credit cards from different providers. After adding additional features such as loans and bank accounts, the site went on to launch globally, and was soon operating in no less than ten countries. Today, Finder.com is one of the world’s leading comparison sites and offers 27 different comparison categories, including crypto exchanges.
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