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Cryptocurrency companies and fintech startups are applying to open banks in the United States. Ripple, Coinbase and the UK payments company Wise have submitted applications for national trust charters this year. Trust banks cannot take deposits or make loans but charge fees for safekeeping customer assets and are not FDIC insured. The applications have reached 12 so far this year, more than any of the preceding eight years, according to data compiled by Klaros…
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Cryptocurrency companies and fintech startups are applying to open banks in the United States. Ripple, Coinbase and the UK payments company Wise have submitted applications for national trust charters this year. Trust banks cannot take deposits or make loans but charge fees for safekeeping customer assets and are not FDIC insured. The applications have reached 12 so far this year, more than any of the preceding eight years, according to data compiled by Klaros…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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