1/🧵
Custodia Bank is now accepting deposits from US citizens. This is only for business customers and in a few states. It is a big step for cryptocurrency.
1/🧵
Custodia Bank is now accepting deposits from US citizens. This is only for business customers and in a few states. It is a big step for cryptocurrency.
Will you use Custodia Bank?
Well it is only business customers at this time and in a few states.
But if they had individual accounts and had approval in my state, I would certainly consider it. As always, have to see the details of the services.
5/ This means it is also banned from FedNow. It is the basis for a lawsuit filed by Custodia.
4/ The bank is also in a fight with the Fed. It is barred for using the FedWire system which processed $1 quadrillion in transactions in 2022.
3/ The bank is looking at offering Bitcoin custody services soon. This will allow customers to interact with the bank on both.
2/ The bank is designed to offer a range of financial services to people in both fiat and digital assets. It is the first bank of its kind and a big win for Caitlin Long, the CEO.
For full article:
https://leofinance.io/@taskmaster4450le/custodia-bank-goes-live-can-start-taking-deposits