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Avanti Financial Becomes Second Charter-Approved Crypto Bank In Wyoming

Emily Mason

Summary: Avanti Financial's banking charter was approved by the Wyoming State Banking Board on Wednesday becoming the second newly chartered crypto bank in the state after Kraken Financial was approved in September. Avanti and Kraken both need to take several more steps, including raising additional capital, before being granted a certificate to operate. The Banking Board ...

Avanti Financial's banking charter was approved by the Wyoming State Banking Board on Wednesday becoming the second newly chartered crypto bank in the state after Kraken Financial was approved in September.

Avanti and Kraken both need to take several more steps, including raising additional capital, before being granted a certificate to operate.

The Banking Board also approved Avanti to issue Avit, a programmable electronic currency. Avit will be issued on the Bitcoin sidechain Liquid and then on Ethereum, as reported by CoinDesk.

By Emily Mason    

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