Wyoming-based digital asset bank Avanti will become the second Bitcoin bank in the United States. In a press release on October 28 , the bank, of which Caitlin Long is founder, announced that it had received permission to store digital assets and tokenized US dollars.
Avanti as the second Bitcoin bank in the USA
As a reminder, Avanti was first announced in February. The Digital Asset Bank was founded by Caitlin Long. We have reported several times on Long and her leadership role in blockchain and crypto issues in US law.
Avanti Bank has now received approval from the Wyoming State Banking Board. Specifically, this means that the bank receives the sovereign permission for the safekeeping of digital assets and tokenized USD.
Therefore, the second One Bitcoin a Day Bank in the USA is now planning to offer several services related to cryptocurrencies. There should be a kind of “online banking” and various depository services for cryptocurrencies. A separate stablecoin with the name AVIT is also planned.
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Bridge between the traditional financial system and crypto
As already mentioned, Avanti will offer its own token. According to its own statements, the stablecoin AVIT should become a “disruptor” that sets new standards. The company plans to choose Ethereum as a blockchain for the introduction of the stablecoin.
Company founder Caitlin Long herself has high expectations of the services of her bank and wants to make cryptocurrencies accessible to millions of US citizens. So she said:
Avanti intends to connect the traditional and digital financial systems by offering services that are not currently available anywhere else.
As an example, she cited the direct processing of dollar transactions for digital assets. Currently, only special custody providers are allowed to offer this service in the USA.
We can thus state the following: After Kraken, Avanti is now the second Bitcoin bank in the USA. The regulatory advances clearly show that the traditional financial sector is increasingly interested in cryptocurrencies and digital assets.
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