An incredible amount of work has gone into convincing institutional investors that bitcoin and crypto should be on their radar. Now that many are convinced, however, they face some significant limitations in the infrastructure.
A new crypto bank out of Wyoming is designed to address those problems. Founded by Caitlin Long, Avanti is apply for a special purpose depository institution (SPDI) charter and already has 8 products in its pipeline not currently available to US investors.
In this interview, Caitlin and @nlw discuss:
- Why Avanti is needed
- Why Avanti will have 100% of assets in reserve at all times
- Why the right model for crypto custody is more akin to valeting a car than current financial market models
- Why building a crypto bank is important in the context of macro market turmoil
- How Coronavirus is exposing pre-existing problems in the global economy
