BKN301
Stiven Muccioli , Chief Executive Officer at BKN301 , reveals how blockchain technology is driving FinTech in the emerging market of San Marino
Banking-as-a-Service startup BKN301 will reach a value of € 1 billion within three years , is the bold prediction from the Founder and CEO of the Republic of San Marino ’ s first neo bank which was launched in March 2021 .
Chief Executive Officer of BKN301 , Stiven Muccioli , named his FinTech start-up to reflect its European location ; 301 marks the year San Marino was founded and BKN draws on the word blockchain - which is a critical component of the digital platform .
San Marino-born Muccioli has returned to his home country after 10 years following a successful career as an investor and tech entrepreneur to launch the neo bank which provides embedded financial services and token issuing services with a B2B model . He sees this as the first of many as his aim is to open FinTech banks outside the constraints of the European Union and in emerging markets from central Asia to North Africa .
Despite the challenges faced by the COVID-19 pandemic , Muccioli aims to reach a fast growth for BKN301 . “ We want to double our revenue during this year and in the next
“ BLOCKCHAIN IS A HUGE NEW OPPORTUNITY AND A NEW SCHEME OF IT ARCHITECTURE ”
STIVEN MUCCIOLI CHIEF EXECUTIVE OFFICER , BKN301
couple of years we can improve a lot on transactions and customers and we dream to reach a value of € 1 billion in the next three years .
“ I sold my company Ventis at the end of 2020 for a very good deal and decided to come back to my country where I can now bring my experience and skills to drive this new startup FinTech business ,” said Muccioli who launched the bank with Federico Zambelli Hosmer and Luca Bertozzi . Hosmer was former CEO of PayPal in Italy and Bertozzi was former CFO of Ventis ( Iccrea Banca Group ).
Muccioli was also inspired to return to the emerging market of San Marino - which is landlocked on all sides by Italy - due to the fact that although it is not a European member state it is permitted to use the euro by arrangement with the Council of the European Union . Another bonus is that it ’ s granted the right to use its own designs on the national side of the euro coins .
Muccioli is using blockchain technology to drive the FinTech bank but faces challenges converting the traditional population of San Marino , one of the world ’ s smallest countries with a population of 33,860 , to convert them from brick-and-mortar style of banking to a neo bank .