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Cryptocurrency-focused Avanti Financial plans to file for bank charter

Written by Jasir Jawaid

Cheyenne, Wyo.-based Avanti Financial Group Inc. is planning to file an application with the Wyoming Division of Banking to obtain a bank charter and hopes to be open for business by early 2021, according to a news release on the company's website.

Avanti will focus on providing regulated services for digital assets and has partnered with Blockstream, a software company focused on the bitcoin protocol.

Avanti's charter would allow it to engage in a range of payment, custody, securities and commodities activities for institutional customers that use digital assets.

This article was published by S&P Global Market Intelligence on the S&P Capital IQ Pro platform.


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