Killer Mike has launched a digital banking platform for Black and Latinx people.
The digital bank is called Greenwood. It is creating the rapper with the former mayor of Atlanta, Andrew J. Young, and Bounce TV network boss Ryan Glover. In a press release for the bank, Killer Mike said, “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.”
Greenwood has pledged to donate five free meals to families in need for every customer to sign up for their service. There will also be donations to the NAACP after every use of a Greenwood debit card. They will also be giving out $10,000 in grants for Black and Latinx small business owners every month. Since announced, the bank has already received “tens of thousands of requests,” according to Glover.