FV Bank receives regulator permission to provide digital asset custodial services

Tuesday 22 December 2020 10:26 CET | News

FV Bank, a global digital bank based in Puerto Rico, has received permission from the Puerto Rico Office of the Commissioner of Financial Institutions (OCIF) to provide custody services for digital assets such as Bitcoin and Ethereum.

FV Bank will begin offering custody services integrated into its digital banking platform in early 2021. Institutional and retail customers will be able to open an account with fiat and digital asset balances with FV Bank, providing for custodial storage of digital assets and exchange to fiat. The digital assets custodial service will also be compatible with FV Net, the bank’s internal real-time fiat settlement platform that opens powerful institutional trade settlement services.  

FV Bank account holders will be provided cryptocurrency deposit addresses for each digital asset they wish to hold in their accounts. The digital assets will be managed in an insured custodial account linked to their digital bank account. Services will be accessed through online and mobile banking applications. 

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Keywords: mobile banking applications, crypto, Ethereum, Bitcoin, digital assets custody, FV Bank, Puerto Rico, digital banking platform
Categories: DeFi & Crypto & Web3
Countries: Puerto Rico
This article is part of category

DeFi & Crypto & Web3