It's called Greenwood...

Run The Jewels rapper Killer Mike has launched a digital bank for Black and Latinx people in the United States.

The rapper has been outspoken in the need to uplift minority communities across the United States, and this new banking venture is in line with his thinking.

It is called Greenwood, and the digital banking service is named in honour of the Greenwood neighborhood in Tulsa, Oklahoma - once regarded as 'Black Wall Street' due to its prosperity.

The venture is launched in collaboration with former Atlanta mayor Andrew J. Young and Bounce TV boss Ryan Glover, offering a completely new financial platform.

Killer Mike comments: "Today, a dollar circulates for 20 days in the white community but only six hours in the Black community. Moreover, a Black person is twice as likely as a white person to be denied a mortgage. This lack of fairness in the financial system is why we created Greenwood."

Bounce TV's Ryan Glover added: "It’s no secret that traditional banks have failed the Black and Latinx community. We needed to create a new financial platform that understands our history and our needs going forward, a banking platform built by us and for us, a platform that helps us build a stronger future for our communities. This is our time to take back control of our lives and our financial future."

CCN reports that within the first 24 hours of business Greenwood had more than 10,000 applicants. Greenwood bank aims to fully open in January 2021. Visit bankgreenwood.com for more information.

Join us on the ad-free creative social network Vero, as we get under the skin of global cultural happenings. Follow Clash Magazine as we skip merrily between clubs, concerts, interviews and photo shoots. Get backstage sneak peeks, exclusive content and access to Clash Live events and a true view into our world as the fun and games unfold.

 

-

Join us on VERO

Join the Clash mailing list for up to the minute music, fashion and film news.

Follow Clash: