Tim DraperFounder and Managing Partne, Draper Associate · I back the ideas that look crazy first

Building a bank for the unbankable 🏦

5 Feb 2026 · 1 min

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0:51

In this brief presentation, the speaker outlines a strategy to serve the unbanked by creating full‑reserve banks located in special economic zones worldwide. He highlights the recent acquisition of a full bank charter in the jurisdiction of Prospero, noting that the process took just over a year and cost roughly $50,000—dramatically less than the typical $30 million and five‑year timeline for U.S. banks. The speaker also announces an effort to become the first bank chartered by a Native American tribe in U.S. history, targeting the Catawba Nation of South Carolina. The narrative emphasizes regulatory alignment, cost efficiency, and the pioneering nature of a tribal‑chartered full‑reserve bank.

Chapters

I hope you'll join us on revolutionizing banking and banking the unbankable. So we've built, or we're in the process of building, a series of full-reserve banks chartered in special economic zones around the world. This gives us an advantage over traditional banks where regulator alignment is what's missing and it is stifling innovation. 2 weeks ago, we got our full bank charter in Prospero. How long did that take? It actually took a little bit over a year. Oh. No fault of Prospero. And how much money? I want to say 50,000 all in, probably. Oh wow. Yeah, it's 30 million in the US. Exactly. And probably 5 years. So we're on track to be the first bank chartered by a Native American tribe in US history. Which tribe? Catawba. We talked to them. Catawba, they're in South Carolina, right? Exactly.