Xinja, in the process of building what it says will be "the first Australian, independent entirely digital bank" - designed entirely for mobile - has been granted an Australian Credit Licence by the Australian Securities and Investments Commission.  This means Xinja will now be able to offer home loans, which it is planning to do in the next few months. The fintech, with aspirations of becoming a bank, is bringing its first product to market - a branded app and prepaid card - which it will start to distribute from the end of this month. "We are delighted to receive the ACL from ASIC as the first of three licences we have applied for. Home loans are a key part of our business plan, and this will allow us to launch those on schedule," said Xinja chief executive Eric Wilson. Wilson said Xinja's launch strategy has been spurred on by its involvement in Australia's first equity crowdfunding offer, via the Equitise platform, in January 2018. This raised A$500,000 in the first 24 hours, more than $1 million in a week and is currently at over $1.4 million. The offer is open until 31 March, and forms part of the second round raising of $10 million. Of this total, $5 million was raised in November from private investors, prior to the equity crowdfunding offer. Several of these same investors are returning after round one, which raised just under $3 million in May 2017. Xinja has also applied for an Australian Financial Services Licence from ASIC and for a limited banking licence from the Australian Prudential Regulation Authority. If granted, Xinja will become a Restricted Authorised Deposit-taking Institution.