Cheyenne-based Commercium Financial has been granted a special purpose depository institution (SPDI) bank charter in Wyoming to handle digital assets.
- When the Wyoming-chartered crypto banks open, they’ll offer a variety of digital asset services that are novel for the institutions in the banking industry. SPDIs, however, are not allowed to lend, and each bank has to hold 100% of its customer deposits in reserve.
- “This Charter allows us to deploy a unique set of technology solutions that connect traditional banking systems to tokenized assets and securities,” Jonathan Dever, Chief Executive Officer of Commercium Financial, said in a press release. “Commercium’s mission is to create a fully digital and automated financial institution that offers a blend of traditional banking and new to the market digitization and asset tokenization products. Regulatory compliance is at the heart of what we do.”
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