Fantom (FTM) co-founder Andre Cronje is teasing the launch of a brand new cryptocurrency-friendly financial institution later this yr.
Cronje tells his 384,500 Twitter followers {that a} financial institution offering crypto-related monetary companies might launch later this yr.
“Want a card, or simply funds infrastructure? If the latter, I can add you to our closed beta. If card, that might be out there by finish of 2023, crypto-friendly financial institution out there to public inside this yr.”
Nonetheless, Cronje says that the companies will doubtless not be out there to the residents of the USA, citing an anti-crypto stance from US regulators.
“Legally we will, however given the USA’s stance, we most likely received’t settle for US residents.”
Cronje additionally says that the monetary companies would fall underneath the know-your-customer (KYC) pointers and laws, which apply to conventional monetary companies.
“No, it’s an ordinary banking license, we will’t keep away from KYC.”
Cronje broke the information of the banking plans when responding to a tweet from Curve Finance CEO and founder Michael Egorov alleging that the monetary know-how firm Revolut had blocked his account after disclosing to them that crypto was the supply of his funds.
“Realized lately on apply that Revolut App is just not crypto-friendly. Have been their buyer since 2016, however they closed my private and enterprise accounts as soon as they received info (from me exhibiting) that supply of funds is crypto.”
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