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 could 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 obtainable by finish of 2023, crypto-friendly financial institution obtainable to public inside this yr.”
Nevertheless, Cronje says that the companies will possible not be obtainable to the residents of america, citing an anti-crypto stance from US regulators.
“Legally we are able to, 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) tips and laws, which apply to conventional monetary companies.
“No, it’s a regular banking license, we are able to’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.
“Discovered just lately on apply that Revolut App will not be crypto-friendly. Have been their buyer since 2016, however they closed my private and enterprise accounts as soon as they obtained info (from me exhibiting) that supply of funds is crypto.”
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