Avanti, the new crypto bank that will operate in the United States

The Banking Board of the state of Wyoming (United States) pointed out that said state voted unanimously in favor of granting the banking letter (authorization to function as a banking entity) to the financial institution Avanti Financial Group, in order to operate as a crypto bank using a "tokenized US dollar" called Avit, as mentioned in the portal Cointelegraph.

According to the web portal of NEXT, said bank will be called “Avanti Bank & Trust " and will aim to serve as a “compatible bridge” between digital assets and the US dollar payment system, as well as the custodian of digital assets. On the other hand, Avanti plans to start operating with commercial accounts in early 2021, and will start gradually incorporating accounts with considerably high balances, with which retailers will have to wait.

Also, according to Cointelegraph, the cryptocurrency exchange, Creak, was the first entity to receive a bank letter from the Wyoming state, which allowed them to be the first cryptocurrency exchange company authorized to operate as a bank in the United States.

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Carlo Palomino
Bachelor from the National University of San Marcos (UNMSM). With interest in Digital Law and New Technologies. I endorse the phrase: "Knowledge is useful as it is shared." Contact: carlo.palomino19@gmail.com


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