Avanti

From CryptoMarketsWiki
Jump to: navigation, search
Avanti Financial Group
Avanti-bank.png
Founded 2020
Headquarters Cheyenne, Wyoming
Key People Caitlin Long, founder, CEO; Bryan Bishop, co-founder, chief technology officer; Britney Reddy, co-founder, chief of banking operations and chief financial officer; Zev Shimko, co-founder, chief operating officer; Chuck Thompson, co-founder, chief compliance officer and chief legal officer
Employees 2-10
Products Cryptocurrency bank
Twitter @AvantiBT
LinkedIn Profile
Website Avanti Bank Home

Avanti is an initiative to create a cryptocurrency-centric bank in the state of Wyoming.[1] Avanti was founded by Caitlin Long, who worked on Wall Street for 22 years at Morgan Stanley, Credit Suisse, and Salomon Brothers.[2]

History

Caitlin Long announced the founding of Avanti Bank in Wyoming during a podcast with Nathaniel Whittemore on CoinDesk on February 24, 2020. The bank is to have full reserves of customer deposits.[3]

In March 2020, Avanti Financial Group announced its leadership team. Avanti also announced that it planned to open its doors in early 2021.[4]

In June 2020, Avanti Financial Group announced the close of a $5 million angel funding round led by the University of Wyoming Foundation. Other contributors included Morgan Creek Digital, Blockchain Capital, the Digital Currency Group, and others.[5]

Products and Services

Avanti is to have full reserves of customer deposits. Wyoming's cryptocurrency custody law creates a bailment for deposits rather than surrender of ownership or control.[6]

Key People

  • Caitlin Long - co-founder, CEO
  • Bryan Bishop - co-founder, chief technology officer
  • Britney Reddy - co-founder, chief of banking operations and chief financial officer
  • Zev Shimko - co-founder, chief operating officer
  • Chuck Thompson - co-founder, chief compliance officer and chief legal officer

References