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 providers 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 can be obtainable by finish of 2023, crypto-friendly financial institution obtainable to public inside this yr.”
Nonetheless, Cronje says that the providers will seemingly not be obtainable to the residents of the USA, citing an anti-crypto stance from US regulators.
“Legally we are able to, however given the USA’s stance, we most likely gained’t settle for US residents.”
Cronje additionally says that the monetary providers would fall beneath the know-your-customer (KYC) pointers and laws, which apply to conventional monetary providers.
“No, it’s a normal 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 follow 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 obtained data (from me exhibiting) that supply of funds is crypto.”
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