Crypto Startup Avanti Receives US Bank Charter Status
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29 October
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Cryptocurrency firm Avanti Financial Group has just received a license from the Wyoming State Banking Board, which granted the same license to Kraken in September.

Like Kraken, Avanti must first follow some required steps, including obtaining additional capital, before it can use the license.

According to the official statement from Avanti, the company has the same powers as national banks in the approved business lines. Avanti's CEO Caitlin Long said:

"Kraken definitely captured attention, but now that there’s a second one chartered it’s no longer a one-off situation and a trend is in motion."

In addition, Wyoming state authorities have approved Avanti's request for the issuance of Avit, a tokenized electronic currency pegged to the dollar. It will be issued in the side-chain Bitcoin Liquid, and subsequently in the Ethereum.

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