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Fantom (FTM) co-founder Andre Cronje is teasing the launch of a brand new cryptocurrency-friendly financial institution later this 12 months.
Cronje tells his 384,500 Twitter followers {that a} financial institution offering crypto-related monetary companies could launch later this 12 months.
“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 12 months.”
Nevertheless, Cronje says that the companies will possible 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 beneath the know-your-customer (KYC) pointers and laws, which apply to conventional monetary companies.
“No, it’s a normal 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.
“Discovered not too long ago on observe 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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