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Wyoming Deposit & Transfer Gets Charter to Provide Crypto Custodial Services

WDT said it is the third such charter to be granted.

By Tanzeel Akhtar
AccessTimeIconJun 22, 2021 at 5:00 p.m. UTC
Updated Sep 14, 2021 at 1:15 p.m. UTC
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Digital asset bank Wyoming Deposit & Transfer (WDT) has been awarded a bank charter by the Wyoming Division of Banking allowing the bank to provide commercial banking and custodial services for tokenized assets and digital currencies.

  • The Wyoming Special Purpose Depository Institution (SPDI) charter provides a regulatory framework to support digital asset banking activities.
  • WDT said it is the third charter of this type to be awarded.
  • In September, cryptocurrency exchange Kraken became the first entity to secure a bank charter from the state. The second charter was issued to Avanti Bank in October.
  • “We are pleased to have worked closely with the Wyoming Division of Banking to unite the goals of the Wyoming Legislature and regulators with the urgent need for fiduciary institution access to a qualified and regulated digital asset custodian and transfer agent,” said WDT CEO Julie Fellows.
  • Gov. Mark Gordon disclosed he owns cryptocurrencies during an appearance at CoinDesk’s Consensus 2021 in May.

Read more: Wyoming Governor Mark Gordon Owns Crypto

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