SPDI


Policy

US Fed Opens Pathway for Crypto Banks to Tap Central Banking System

The central bank will create a three-tiered system for evaluating whether a financial institution should have access.

Fed Vice Chair Lael Brainard (Drew Angerer/Getty Images)

Policy

Kraken Hits Key Milestone in Quest to Gain Fed Account, Equal Treatment With Traditional Banks

Kraken Bank, the Wyoming subsidiary of the Kraken crypto exchange, received a routing number from the American Bankers Association.

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Videos

Avanti Bank CEO on Why It’s Important to Become a Federal Reserve Member Bank

Caitlin Long, founder and CEO of Wyoming-based Avanti Bank, a special purpose depository institution (SPDI) that aims to provide crypto custody services for institutional investors, discusses Avanti’s journey to becoming a Federal Reserve member bank. Plus, insights into the U.S. crypto regulatory landscape, private stablecoins, and Avanti’s new digital asset Avit.

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Markets

US Federal Reserve Proposes Guidelines for ‘Novel’ Banks That Want Access to Fed Payments

The guidelines would have a direct bearing on Wyoming special purpose depository institutions that want access to Fed payments, said U.S. Sen. Cynthia Lummis.

The Federal Reserve building in Washington, D.C.

Finance

Caitlin Long's Wyoming Crypto Bank Announces C-Suite, Including Bitcoin Core Dev

On Tuesday, Avanti Financial Group announced five executive hires, including Bitcoin Core developer Bryan Bishop and Figure Technology’s Zev Shimko.

Caitlin Long speaks at Invest 2018. (CoinDesk archives)

Finance

Blockchain Pioneer Caitlin Long to Build Crypto Bank in Wyoming

A Wyoming corporation founded by Caitlin Long is preparing to apply for a special purpose depository institution (SPDI) charter with the state’s division of banking.

Avanti CEO Caitlin Long in Italy (Caitlin Long)

Finance

Kraken Job Ad Hints at Plan to Build Special-Purpose Wyoming Bank

The cryptocurrency exchange has opened up a position for someone to oversee operations for the firm’s future Wyoming SPDI bank charter.

Kraken CEO Jesse Powell

Markets

Colorado Could Be Next in the Race to Bank Crypto (and Cannabis)

State policymakers want Colorado to be the new Wyoming, creating friendly legislation to draw crypto companies.

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