Based on a series of posts on several social networks, including Twitter, Caitling Long, former CEO of wall street, announced with great fanfare that work is underway to ensure the opening in 2021 of a crypto friendly bank, whose activities will be guided mainly to services whose foundation would be digital assets such as cryptocurrencies.
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Ambition creators of this future financial institution, would be to ensure cohabitation and further a position between financial methods classics and those that are now digital. Its headquarters will be located Wyoming, and will be named Avanti Bank. To the question of whether why the state of Wyoming it would be due in particular a set of laws that have built in this part of the United States in support of the blockchain. And what which is certain, this bank will clearly be the first institution digital asset management. It is to be expected that a set of services related to the storage and monetization of cryptocurrencies in respecting certain safety standards.
The term used for the name of the bank seems quite dichotomous with the situation. Indeed Avanti means in Ancient Italian, for an institution that is expected to invest in methods of the future. The security protocol will be similar to some that are required in the financial sector or in any other use of conventional cryptocurrency such as KYC and AML. As an institution financial institutions complying with banking standards, it will be supervised by the laws relating to special purpose deposit institutions therefore under the tutelage of the Wyoming banking divisions.
by 2021, the first actions in favour of controlled and controlled use controlled, especially digital assets will be carried out. A dream that gradually becomes a reality. "There is a critical element of the infrastructure U.S. market – a regulated bank that can serve as a bridge for the Fed for payments – crypto-preservation for large funds institutions that need it before entering the crypto in a significant way the former Wall Street executive said.
besides we are not going to deny that this project is very bold. Indeed, the safety of digital assets has always been seen as something fairly complex. The authorities have so far avoided being interested in it because of the potential risk, which is very high whether it covers to manage or order that kind of thing.And all of this explains the fact that the United States has lagged behind in the development of the permanent use of digital assets, that's what around noon Long. "For various regulatory reasons, banks and financial companies U.S. companies cannot provide optimal services for cryptocurrencies. Avanti plans to break this blockage and thus help prevent the United States to fall behind other countries, including the U.S. already serve institutions in this market. ».
A partnership is planned with Blockstream, a company specializing in the supply of bitcoin software, everything related to the preservation of these kinds of assets: "Blockstream brings software for the bitcoin protocol. … Avanti brings a regulated delivery vehicle to deliver to U.S. markets. ».
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