TOKENIZED DEPOSITS LAUNCHED!! @Vantage_Bank & @custodiabank Announce Launch of Tokenized Deposits for U.S. Banks. Turnkey accretive solution that integrates #tokenizeddeposits & #stablecoins directly into the traditional online banking environment. Consortium member banks and credit unions will also gain the benefit of the premier patent portfolio pertaining to protocols for tokenizing U.S. dollars on blockchains, which Custodia has been developing since 2020. The platform is open to institutions of all sizes. prnewswire.com/news-releases…

CUSTODIA STANDS FIRM IN RESPONSE TO THE FED

AVANTI IS OFFICIALLY A BANK! Our charter & business plan were approved 8-0 today, incl. #Avit (a tokenized US dollar, which we announced we'll issue initially on #Liquid (#Bitcoin sidechain) & #Ethereum. Open for commercial customers early Q1. More here: avantibank.com/bank-charter-…

STATEMENT BY @custodiabank on today's announcements by federal bank regulators:

Our CEO, @CaitlinLong_ , was just named one of three Innovators of the Year 2023 in the US banking industry by @AmerBanker, selected by American Banker as one of the top three from the 20 total named Innovators of the Year 2023. Congrats to all!

1/ BIG NEWS!! Custodia’s #Bitcoin custody platform recently went live. Custodia is a *BANK* built by Bitcoiners & we offer segregated (not omnibus) custody accounts on our custom-built Bitcoin custody platform. Our whitepaper describes how we're different: custodiabank.com/f/custody-w…

1/ @CustodiaBank is live! Last month, we began to serve external customers. For helping us reach this milestone, special thanks go to our team, our investors and all our partners--especially in the face of regulatory pressure on the #digitalasset industry.

BIG NEWS: @custodiabank & @Vantage_Bank have issued America's first bank-issued #stablecoin on a permissionless blockchain. First-ever tokenization of a U.S. bank's U.S. dollar demand deposits for a bank customer on a permissionless blockchain: custodiabank.com/press/custo…

STATEMENT FROM CUSTODIA BANK about today's Federal Reserve action on its membership application. Its master account application remains pending:

.@custodiabank CEO @CaitlinLong_ on what makes us different: "Our design is to be non-leveraged. It's the polar opposite of all the mess that I've been warning about for the last few years that is creating the train wreck in the [digital asset] industry." h/t @CNBC

BIG NEWS:@custodiabank & @Vantage_Bank have issued America’s first bank-issued #stablecoin on a permissionless #blockchain. * First-ever tokenization of a U.S. bank’s U.S. dollar demand deposits on a permissionless blockchain. * Both banks worked closely with their respective bank regulators to ensure the success of this first-of-its-kind project. * The transactions deployed @custodiabank's patent, U.S. patent 11392906 (issued July 2022), for the tokenization of U.S. dollar bank deposits on smart-contract type permissionless blockchains. * Test transactions included transfers by a bank customer of its AvitTM tokens into self-custody, transacting with its Avit tokens business-to-business outside the banking system & transferring its Avit tokens back to @custodiabank for redemption into U.S. dollar demand deposits. * The banks collaborated on the mint, transfer & redemption of Avit tokens for a bank customer on the Ethereum mainnet using the ERC-20 standard. * The banks complied with all applicable U.S. bank regulatory requirements, including BSA/AML/OFAC, which necessitated designing documentation, policies and procedures that differ from those of current stablecoin issuers.

NEWS: @custodiabank successfully completed a SOC 2 Type II compliance audit. “It is unusual for banks in the US to obtain SOC 2 certifications, which Custodia has done, & only a small number of US banks typically seek them,” said @CaitlinLong_, CEO of Custodia. “But as the ‘gold standard’ for technology companies’ security controls, SOC 2 Type II certifications are critical for serving the most tech-forward clients. Custodia is proud to have obtained both the Type I and Type II certifications.” custodiabank.com/press/soc-2…

CONGRATULATIONS and best wishes to all the @AmericanBanker_ Innovators of the Year nominees, including Custodia Bank's own @CaitlinLong_. americanbanker.com/list/inno…

Hear our CEO, @CaitlinLong_, tell @CNBC why @custodiabank's business is still going strong, why it's not giving up on a Fed master account, and how its business model is designed to remove #Herstatt risk from the traditional banking system.👇 cnbc.com/video/2024/04/03/cu…

NEWS: @AvantiBT announces completion of our Series A capital raise, bringing the total raised to date to $44m as we prepare for digital asset bank launch. Round was upsized twice due to market demand. We're hiring (bank ops, finance, engineering)-join us! avantibank.com/press/series-…

2/ Services now available in some (but not all) US states include US dollar deposits & US government money market fund services. Stay tuned: #Bitcoin custody is pending launch, offering customer protections inherent to a bank that are superior to those offered by non-banks.

3/ As a non-lending bank, we offer integrated Bitcoin custody & US dollar services (Not FDIC Insured) under one roof, which simplifies user operations and reduces risk. We recently earned approval from the Wyoming Division of Banking to go live with our #Bitcoin custody service.

1/ Unlike other #Bitcoin custodians, @custodiabank uses a segregated custody model that allows you to validate your address balances **on-chain.** Did you also know that Custodia's #Bitcoin custody setup allows you to manage your individual #UTXOs?🧐👇

Statement of @custodiabank:

INTRODUCING AVANTI BANK! avantibank.com

Avanti announces it will shortly apply for FDIC insurance, acting quickly to test the viability of the path laid out by the President’s Working Group for digital asset companies that are outside the universe of legacy banks that are already FDIC-insured. avantibank.com/press/avanti-…

STATEMENT ON @BIS_org PROPOSED BANK CAPITAL REQUIREMENTS FOR DIGITAL ASSETS, co-authored by our CEO, @CaitlinLong_ & our CTO, Rich Radnay. Full comment letter available here: custodiabank.com/press/custo…

8/ We extend special thanks to all of our supporters and encourage you to stay in touch via info@custodiabank.com. Please watch custodiabank.com for updates as we roll out new services and new states. Let’s do this!

2/ Our #Bitcoin custody service is purpose-built for businesses: fiduciaries, investment advisers, fund managers & corporate treasurers. We’re currently offering some of our services in various US states. The best way to learn more is to reach out to us: custodiabank.com/get-started…

4/ Since we built our #Bitcoin custody platform in-house, we’re especially grateful to those willing to help us by providing user feedback. We look forward to learning about how we can work and grow together! Get in touch!

Yes, the above is true, but @CustodiaBank survived the hit & figured out how to get operating while waiting for the Court's decision on the legality of the Fed's denial. We are open. Check us out! custodiabank.com

3/ As a reminder, @CustodiaBank is initially serving US business customers only (not individuals)--and we are not authorized to operate in all US states yet. Please check our website for important information and disclosures. We are opening slowly & carefully.

WELCOME @lisa_hough_! Lisa brings her decade+ career in energy trading to @custodiabank, where she will help the US #Bitcoin & energy industries meet their banking & bitcoin custody needs, including integrations w/ their banking & capital markets providers custodiabank.com/press/custo…

MILESTONE ACHIEVED: Mexico-based trucking company DX Xpress used #Avits to move US dollars cross-border within seconds & for pennies, achieving something not possible with incumbent USD payment systems. @Vantage_Bank & @custodiabank teamed up again. More👇 custodiabank.com/press/token…

Thankfully the BIS today backed off its proposal to penalize banks' use of permissionless #blockchains. Our CEO & CTO submitted a comment letter on this in October, explaining why blocking banks from using this tech cld obsolete banks. Thank you @BIS_org bis.org/bcbs/publ/d545.pdf

AVANTI WELCOMES TO OUR ADVISORY BOARD: @ChristopherA: internet pioneer, co-creator TLS security standard @BobMcElrath: former lead Fidelity Digital #blockchain architect Katie Cox: 30-yr Federal Reserve bank regulator, former Manager of M&A section in DC avantibank.com/advisers-anno…

7/ “We're grateful to our partners, who appreciate our approach of complying with banking laws & regs; to Wyoming for its enabling laws; to our team & investors; & to the law-abiding #digitalasset industry,” said CEO @CaitlinLong_, named by @AmerBanker a top 3 Innovator of 2023.

6/ A new breed of bank has arrived for the US #digitalasset industry-one that’s tech-forward, treats customers w/ the respect you deserve & has a regional bank-style risk mgmt program. We took the hard path of becoming a regulated bank bc it's the right thing to do for customers!

4/ Many friends have asked us how they can help @CustodiaBank succeed. One way is to do business with us once we’re authorized in your state & if you’re approved to open an account. Please contact info@custodiabank.com if you’re interested in talking.

5/ It's been quite a journey for Custodia. In Dec we told the Fed we'd complete a task list and--even tho no longer required--we still did it. Since then we passed myriad independent reviews, built new partnerships & built a new service to meet a market need. And now we’re live!

ATTENTION BANKS that want to enter #bitcoin & #crypto custody in the U.S., now that the SEC is granting "exceptions" to #SAB121 for "several large banks" (per Bloomberg). Here are thoughts on the buy vs build vs rent decision for banks looking to enter: custodiabank.com/press/the-b…

IS IT TRUE?? Yes, it’s true: @CustodiaBank really did **propose** to the Fed to hold $1.08 in a Fed master account for every $1.00 of customer USD deposits during our first 3 years of operating with a Fed master account. Learn more here: custodiabank.com/roughstock

ANNOUNCING AVANTI'S LEADERSHIP TEAM! It's a group of all-star co-founders, each w/ significant prior experience in regulated financial institutions. The need for Avanti has never been clearer & we're full-speed ahead!🤠 @Blockstream @kanzure @zshimko prnewswire.com/news-releases…

AVANTI IS HIRING! Interested in joining the first digital asset custody bank in the US built on the backbone of a modern core banking platform? Several open roles--compliance associate + engineering & product roles too. Join us!🤠 jobs.lever.co/avantifinancia… jobs.lever.co/avantifinancia…

📈@custodiabank engineering stats: Google's general test coverage guidelines: 🎯Acceptable: 60% 👏Commendable: 75% 🌟Exemplary: 90% Custodia's 2023 stats: 📈New code this year: +101% 📊Early '23 coverage: 87% 🚀Coverage now: 90.5% 💪Test coverage vs Google guidelines: EXEMPLARY

NEWS! ex-Treasurer of @Ford, Neil Schloss, joins @AvantiBT as advisor, along w/ Ford's ex-head of treasury IT, Bob Cullinan & ex-@blackrock Managing Director Tim Keefe. "I see Avanti’s solutions as potential game changers for corporate treasurers."-Schloss avantibank.com/press/avanti-…

AVANTI IS NOW CUSTODIA! Check out our new look at custodiabank.com + learn more about the vision behind the rebranding & our plans as we move closer to launch in Q2! custodiabank.com/press

While most #bitcoin custodians provide customers w/ a pro rata share of an omnibus Bitcoin custody account, @CustodiaBank provides customers w/ full segregation of Bitcoin. Custodia custodies customer #UTXOs! Whitepaper on our segregated Bitcoin custody: custodiabank.com/f/custody-w…

1/ Last week, we caught up with @PrestonPysh to discuss @CustodiaBank's segregated #Bitcoin custody service. Check it out on your preferred podcast app to learn more about the latest developments for Custodia. Here’s a 🧵about what we covered👇 piped.video/watch?v=u8UpiYJq…

Statement of @custodiabank:

Join the @AvantiBT team and help build a future where all banks support #bitcoin & #crypto + offer *meaningful* API capabilities to tech-savvy customers. Job postings below:

Happy 2024! Last year, did you read our whitepaper about our Custody product and the segregated vs. the omnibus model? custodiabank.com/f/custody-w… if you're curious but haven't read it yet, here's a short thread. 🧵

INTRODUCING #Avit, a new US dollar payment solution for use by traders, investors and corporate treasurers when they desire real-time settlement--and @AvantiBT's accelerated timetable for opening. Learn more here: avantibank.com/bank-charter-…

Companies have been adding #bitcoin to balance sheets. If you're among them, trust our robust legal protections & custody your #bitcoin with @CustodiaBank. Your Bitcoin will be stored in a segregated wallet with the protections of #Wyoming’s bailment laws: custodiabank.com/get-started…

NEW TOOLING for bank-issued #stablecoins rolled out by @custodiabank & @Vantage_Bank: “Customers asked us for geolocation-triggered payment functionality that leverages programmable money to enforce payment conditions automatically. So, we built it for them.” custodiabank.com/press/geolo…

Institutional investors are among customers that trust @custodiabank to provide safe & secure #bitcoin custody. In addition to bank-level security, they value #Wyoming’s bitcoin-friendly laws, our bank regulatory regime & address-level asset segregation. custodiabank.com/get-started…

GET A GLIMPSE OF THE FUTURE OF PAYMENTS👇using @custodiabank's geolocation tool, which allows customers to program payments for geolocation-triggered release using #stablecoin tech *inside* the US banking system. Customers asked for it & we built it for @Vantage_Bank. More soon!

Avanti Statement on its Application to Become a Federal Reserve Member Bank: Avanti today confirmed press reports that it filed an application to become a Member Bank of the Federal Reserve on August 5, 2021. avantibank.com/press/avanti-…

New team members! * Gary Blumenthal, ex-managing director at @UBS & COO of Grasshopper Bank, as Ops Senior Advisor; * Mike Borges CPA, ex-Controller of Beneficial, as CFO; * Mike Coleman, ex-CFO & head of ops & compliance at FirsTier, as Head of Bank Ops avantibank.com/press/avanti-…

New Fed Policies And Procedural Abnormalities: There are leadership lessons in the Fed's 86-page Custodia order, released Friday, that may help the law-abiding #digitalasset industry forge a path forward. @custodiabank is continuing its work to break thru. custodiabank.com/press/custo…

THANK YOU to the investors who are helping @AvantiBT get through the #Wyoming #SPDI charter application process! avantibank.com/angel-round/

#Bitcoin2024 is next week & the @CustodiaBank team is excited to join Bitcoiners there! Make sure to see @CaitlinLong_'s talks & catch up with our onsite team. Please see custodiabank.com/get-started… or contact us at info@custodiabank.com. (Material is for informational purposes only)

2/ Currently, you can select which UTXOs you want to protect. We’re working on a full set of #Bitcoin #UTXO management features, making UTXO hygiene even easier. This is especially useful in high fee environments & for smaller UTXOs (eg, mining rewards as part of a pool payout).

3/ Between the #halving and #Runes launch, #Bitcoin network fees are back to all time highs and it’s critical to have a strategy to manage your #UTXOs and reduce fee expenditure.

4/ The material contained herein is for informational purposes only. Please see custodiabank.com/get-started… for more information!

7/ 56:45 How to identify when ETFs might be having problems 59:10 Looking forward to a potential world where #ETF holders might someday redeem shares for real #Bitcoin held in custody by @custodiabank Check out custodiabank.com! END

Our custody model is like a single tree. It's easy to know which leaves and branches belong to whom because it's still there, standing strong. There's no need to process that tree into lumber because you can simply count the leaves.

If you're interested in learning more about Bitcoin custody, banking services, or money market funds, please fill out this form and we'll get back to you. custodiabank.com/get-started… We'd love to chat!

6/ 45:00 Consequences of “bad money” crowding out “good money” 47:11 Tokenization of equities & digitalization of corporate stock; Caitlin’s background working w/ the State of Delaware in 2016-17 52:38 Inefficiency in the mkt & potential issues with trading #Bitcoin #ETFs

Very smart observations there, @contractslegal. But why wait until next day??😉🤔🤠

Custodia offers segregated custody and is a bank, not a trust company. This means that in the event of bankruptcy, your assets remain legally yours.

Thanks @DCGco! We're thrilled to be part of each other's teams on this journey!

To make this easier to understand, let's use a metaphor: think of a forest, then imagine a single tree. In bankruptcy, the court treats that forest as harvested lumber. Even if you owned one tree or several, it's difficult to know which boards came from your tree vs. others.

Most of the industry offers omnibus custody. Most also use the legal framework of a trust. In 2023 we saw what can happen when a trust company fails--customers can face haircuts due to preferences, delays & general uncertainties of bankruptcy.

Thanks! What an honor to join forces on this journey!🤠

🙏

3/ 12:56 6102 Attack & Fed vs. State Regulatory Framework for Custodia 17:13 Custodia’s lawsuit - @PrestonPysh's thoughts 25:20 Technology & our custody product 27:50 Plans for expansion 28:30 Trading: why @custodiabank believes in segregation of custody from exchanges

5/ 34:30 Stablecoins - risk (“speed of light” vs. legacy “Oregon Trail” speed) 37:00 Wes’s perspective on #stablecoins - fractional reserve vs. full reserve 38:00 TGA draw down - Caitlin’s take on #BTFP ending in March 42:30 Consolidation of the banking industry

4/ 31:00 Potential for #BTC lending through an outside lender (@custodiabank isn't the lender) 32:00 What we are excited about in the next few years (Layer 2s, Lightning) 33:00 Approved at charter for ability to do #stablecoin 33:20 Cantor as custodian of Tether’s T-bills

2/ 2:40 #Bitcoin #ETF #Custody 3:30 #Bailment discussion, what makes @custodiabank (as a bank) different 7:45 A theory about why ETFs concentrate custody at Coinbase (for now) 9:20 Why Custodia uses segregated custody & custodies #UTXOs 11:00 Why ETFs aren’t using Custodia

Thank you @patricksouth! 🙏

Thanks Josh! What an honor to be part of the Blockchain Capital team!! 🙏

Yep, interesting perspective Russ. Fiat on/off ramps that give customers the freedom to choose where to store value are proving valuable to the growth of the ecosystem, indeed. Thanks

😉🙏

Please check out our whitepaper. It might answer your questions!