Alexei Volkov
Plastic Bank is a social fintech company with a global bottle deposit program that aims to end poverty and stop plastic pollution. The company was founded in 2013 by David Katz and Shaun Frankson, with the first branch opening in Haiti. As of April 2025, Plastic Bank has collected over 160,000,000 kg of plastic through over 57,000 collection members in their 6 countries of operation: the Philippines, Indonesia, Brazil, Egypt, Thailand, and Cameroon. To find the closest Plastic Bank collection branch, you can use the Plastic Bank app with your device's location feature turned on.
| Characteristics | Values |
|---|---|
| Headquarters | Canada |
| Operations | Philippines, Indonesia, Brazil, Egypt, Thailand, and Cameroon |
| Founder and CEO | David Katz |
| Co-founder | Shaun Frankson |
| Year founded | 2013 |
| First branch | Haiti |
| Collection members | Over 57,000 |
| Plastic collected | Over 160,000,000 kg |
| Equivalent to | Over 8 billion plastic water bottles |
| App | PlasticBank® |
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What You'll Learn
Plastic Bank's app
Plastic Bank is a social fintech company with a global bottle deposit program that aims to end poverty and stop plastic pollution. It was founded in 2013 by David Katz and Shaun Frankson, with the vision of turning plastic waste into a form of currency to help underserved communities escape poverty. The company's headquarters are in Canada, with operations in the Philippines, Indonesia, Brazil, Egypt, Thailand, and Cameroon.
The Plastic Bank app plays a crucial role in achieving the organization's goals. The app, developed in partnership with IBM, utilizes fintech and blockchain technology to securely facilitate plastic transactions. It offers a digital wallet, often serving as the first savings account for members. This technology enables traceable collection, secured income, and verified reporting for collection members.
To locate the nearest Plastic Bank collection branch, users can turn on the location feature on their device and open the Plastic Bank app. This will provide them with the closest branch's location.
The app also empowers members to share their impact, invite others to join, and grow their network. Through the app, collected bottles are returned as recycled feedstock to the circular economy, where they are reintegrated into products and packaging by partner organizations and brands. This process transforms plastic waste into currency, providing income and social benefits to collection members.
The Plastic Bank app is an innovative tool that not only facilitates plastic transactions but also contributes to poverty alleviation and environmental conservation. It empowers individuals to take action against plastic pollution while supporting underserved communities worldwide.
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Global bottle deposit program
Plastic Bank is a social fintech company with a global bottle deposit program that aims to end poverty and stop plastic pollution. The company was founded by David Katz, who envisioned a world where discarded plastic could drive positive change. The first Plastic Bank branch was launched in Haiti, and the company is now headquartered in Canada with operations in the Philippines, Indonesia, Brazil, Egypt, Thailand, and Cameroon.
The global bottle deposit program empowers community members to exchange plastic bottles for money, social benefits, or other incentives. This helps to reduce the environmental footprint of people and businesses, while also supporting communities through memberships. The collected bottles are returned as recycled feedstock to the circular economy, being reintegrated into products and packaging by partner organizations and brands.
The PlasticBank app uses fintech and blockchain technology to securely execute plastic transactions. The app's digital wallet is often the first savings account that members own. The app also allows members to access tools to share their impact, invite customers to join, and grow their impact.
Bottle deposit programs have been proven to be a sustainable method of capturing beverage bottles and cans for recycling. Also known as container deposit laws, these programs provide a monetary incentive, usually a small refund of 5 or 10 cents, for returning containers for recycling. An example of a successful bottle deposit program is the Statiegeld initiative in the Netherlands, which allows consumers to return plastic bottles and cans to most grocery stores for a small refund or store credit.
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Exchange plastic for money
Plastic Bank is a social fintech company with a global bottle deposit program that aims to end poverty and curb plastic pollution. It was founded by David Katz, who envisioned a world where discarded plastic could drive positive change. The company has its headquarters in Canada and operates in several countries, including the Philippines, Indonesia, Brazil, Egypt, Thailand, and Cameroon.
Through their collection communities, Plastic Bank empowers over 50,000 community members to exchange plastic for money and social benefits. The collected plastic is delivered to processing partners, who recycle it into Social Plastic feedstock. This feedstock is then reintegrated into products and packaging by partner organizations and brands, supporting a circular economy.
To locate the nearest Plastic Bank collection branch, you can use the Plastic Bank app by turning on the location feature on your device.
In addition to Plastic Bank's initiatives, there are other ways to exchange plastic for money. Some states in the United States have bottle deposit laws, allowing individuals to earn money by recycling plastic bottles and containers. These states include California, Hawaii, Iowa, Maine, Massachusetts, Michigan, New York, and Oregon, each offering varying rates for recycled containers. Redemption centers and grocery stores with specialized machines in these states facilitate the exchange of plastic bottles for cash.
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Blockchain-secured platform
Plastic Bank is a social fintech company with a global bottle deposit program that aims to end poverty and stop plastic pollution. The company was founded by David Katz, who envisioned a world where discarded plastic could drive positive change. The first Plastic Bank branch was launched in Haiti, and the company now operates in Indonesia, the Philippines, Brazil, Egypt, Thailand, and Cameroon.
Plastic Bank's blockchain-secured platform plays a crucial role in achieving its social and environmental goals. The platform, designed by Shaun, a digital strategist, offers several advantages and features that contribute to its overall impact.
Firstly, the platform provides end-to-end supply chain traceability. Each kilogram of plastic waste collected is assigned a unique digital ID when it is exchanged at a collection branch. This ID is then tracked on the blockchain platform, allowing Plastic Bank and its partners to monitor the movement of each piece of plastic through the recycling ecosystem. This traceability enhances transparency and strengthens accountability, ensuring that collected plastic is indeed recycled and transformed into new products.
Secondly, the blockchain-secured platform enables universal income and financial inclusion. Collection members can exchange their collected plastic for money, social benefits, or other incentives. The platform's digital wallet often serves as the first savings account for members, empowering them to improve their financial situation and work towards poverty alleviation.
Additionally, the platform facilitates life-enhancing advantages for the world's poor. By providing increased income and social benefits in exchange for plastic waste, collection members are empowered to pave their own path out of poverty. This model not only improves the livelihoods of individuals but also contributes to the development of local economies.
Moreover, the blockchain-secured platform enhances trust and collaboration between Plastic Bank, its partners, and the communities it serves. The transparency and efficiency brought about by blockchain technology ensure that all parties can verify the impact of their efforts. This fosters a sense of confidence and encourages further commitment to environmental and social initiatives.
Overall, Plastic Bank's blockchain-secured platform is a powerful tool that enables the company to achieve its social and environmental goals. By providing traceability, secured income, and verified reporting, the platform empowers individuals, businesses, and communities to work together towards a more sustainable and equitable future.
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Headquarters and operations
Plastic Bank is headquartered in Canada, with operations in six countries: Indonesia, the Philippines, Brazil, Egypt, Thailand, and Cameroon.
The company was founded in 2013 by David Katz, who is the current CEO, along with Shaun Frankson. Katz is recognized as one of the world's most compassionate entrepreneurs, receiving awards such as the United Nations Lighthouse Award and the Ernst & Young Lifetime Achievement Award. Shaun Frankson, who designed the company's blockchain-secured fintech platform, has also received recognition for his work, including being honored as an Ashoka Emerging Innovator and an IBM Champion.
Plastic Bank's story began when Katz envisioned a world where discarded plastic could drive positive change. He understood that most plastic waste comes from areas of poverty, and so he aimed to end poverty and stop plastic pollution by turning plastic waste into currency, providing income and social benefits. The first Plastic Bank branch was launched in Haiti, and the company now has over 57,000 collection members worldwide.
The company's global bottle deposit program allows collection members to exchange plastic for money, social benefits, and other advantages. The collected bottles are then returned as recycled feedstock to the circular economy. Plastic Bank's blockchain-secured platform ensures traceable collection, secured income, and verified reporting. The company also offers tools for members to share their impact and invites their customers to join and grow the movement.
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Frequently asked questions
You can find the nearest Plastic Bank collection branch by turning on the location feature on your device and opening the Plastic Bank app.
Plastic Bank is headquartered in Canada with operations in the Philippines, Indonesia, Brazil, Egypt, Thailand, and Cameroon.
The first Plastic Bank branch was opened in Haiti.
As of April 2025, Plastic Bank claims to have over 57,000 collection members in their 6 countries.
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