Fantom’s founder teases a “crypto-friendly bank

Andre Cronjethe co-founder of the blockchain Fantomhas alluded to the upcoming launch of a ” crypto-friendly bank “.

In response to Michael Egorov, the boss of Curve Finance, who stated recently that Revolut had closed its accounts because the source of funds was linked to cryptocurrency, Andre Cronje has announced that he is working on the opening of a ” crypto-friendly bank “.

Need a card, or just an infra payment? If the latter, I can add you to our closed beta. If the card will be available by the end of 2023, the crypto-compatible bank will be available to the public sometime this year.” tweeted layer1 Fantom co-founder.

In March, the Californian exchange Kraken also indicated that it would open its own bank “very soon”.

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This year, several so-called “crypto-friendly” U.S. financial institutions have filed for bankruptcy or been shut down by the government. These include Silvergate, Silicon Valley Bank and Signature.

Blockchain architect Fantom added that the service, which is unlikely to be available in the U.S., would be offered via a traditional banking license, without elaborating.

Andre Cronje also co-founded the decentralized finance platform Yearn Finance. He is a director of the Fantom Foundation since 6 months.

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