Finder co-founder Fred Schebesta wants to create the ‘crypto bank of Australia’

Finder co-founder Fred Schebesta wants to create the ‘crypto bank of Australia’

THE co-founder of one of Australia’s biggest tech success stories has revealed his next “multibillion-dollar” idea — to create the “first crypto bank of Australia”.

Fred Schebesta, who became one of country’s youngest self-made millionaires at the age of 26 with the sale of his first business before founding comparison website finder.com.au, describes himself as a “time traveller” who looks into the future in order to make it a reality.

His bet on the online comparison space paid off. From a simple credit card blog called Creditcardfinder.com.au, Finder today is worth in the area of $1 billion and operates in 10 countries, with 10 more planned this year.

Now Mr Schebesta has found his new passion. He’s obsessed with cryptocurrency and blockchain — he hosts a daily crypto talk show from Finder’s York Street offices in the Sydney CBD — and is undeterred by the apparent drop-off in interest since the market’s peak in December.

“Remember, people said bitcoin was a bubble at $US10, a bubble at $US100, a bubble at $US1000,” he said. “After it went to $US100 it went down to like $US12, that’s way lower than $US20,000 down to $US6000.”

Finder launched its cryptocurrency comparison offering in September last year and quickly saw massive interest, with traffic growth pacing at about 10 times that of other topics like insurance, telcos and credit cards.