<div data-elementor-type="wp-post" data-elementor-id="180" class="elementor elementor-180" data-elementor-settings="[]"><div class="elementor-inner"><div class="elementor-section-wrap"><section class="elementor-section elementor-top-section elementor-element elementor-element-7db8501 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="7db8501" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fe38fe4" data-id="fe38fe4" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-9b8a443 elementor-widget elementor-widget-text-editor" data-id="9b8a443" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p><span style="font-weight: 400;"><em>October 12, 2021 &#8211; </em>Below is a transcript of remarks as delivered by Avanti CEO Caitlin Long on global standards for digital currencies at the International Council 2021, an event hosted by the Bretton Woods Committee. Additional information about the event and the Committee can be found </span><span style="font-weight: 400;"><a href="https://www.brettonwoods.org/event/international-council-2021">here</a></span>.</p><hr /><h3><span style="font-weight: 400;"><strong>THE BRETTON WOODS COMMITTEE</strong></span></h3><h4><span style="font-weight: 400;">International Council 2021 Remarks</span></h4><p>Panelists:</p><ul><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">William C. Dudley, Co-Chair, Future of Finance Working Group and Former President and CEO, Federal Reserve Bank of New York (Moderator); </span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Afsaneh Beschloss, Co-Chair, Future of Finance Working Group (Moderator)</span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Eric S. Rosengren, Former President and CEO, Federal Reserve Bank of Boston; </span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Hyun Song Shin, Head of Research, Bank for International Settlements; </span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Tomicah Tillemann, Global Head of Policy, Andreessen Horowitz Crypto; </span></li><li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Caitlin Long, Chairman and CEO, Avanti Bank &amp; Trust</span></li></ul></div></div></div></div></div></div></div></div></section><section class="elementor-section elementor-top-section elementor-element elementor-element-8946099 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="8946099" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-757b73d" data-id="757b73d" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-62f0133 elementor-widget elementor-widget-text-editor" data-id="62f0133" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p>Thank you. Dr. Dudley. </p><p><span style="font-weight: 400;">As someone with substantial practical experience in both the traditional banking and digital asset worlds, and as someone who founded a now-chartered bank that has applied to the Fed for payment system access with a business model to issue a stablecoin-like instrument as a bank deposit, I’d like to focus on the three things that, in my view, really matter when it comes to the intersection of the traditional and digital asset markets: (1) settlement risk, (2) interoperability and (3) legal clarity.</span></p><p><span style="font-weight: 400;">Regarding settlement risk, the reality is that the vast majority of fiat-to-crypto exchange transactions occur with the U.S. dollar as the fiat leg of the transaction, but there are huge differences in both the timing and finality of settlement between the U.S. dollar and crypto transactions. Therein lies substantial risk, and firms that intermediate between the two&#8211;including central banks&#8211;must manage such risks VERY carefully. Specifically, while bitcoin and ether transactions settle in minutes with irreversibility, ACH transaction settlement is measured in days, and settlement finality can actually take up to 2 years in certain edge cases. It’s not difficult to see how such huge differences in settlement speed and finality can create problems. Indeed, these settlement differences gave rise to stablecoins in the first place, as traders needed a US dollar payment mechanism that allowed them to move dollars around the world in minutes, with finality. Proposed Basel III capital requirements for crypto are heavily focused on price volatility but are woefully insufficient, in my opinion, in reflecting settlement risk. Indeed Basel III generally doesn’t prescribe much capital requirement for settlement risk. Why? Because traditional financial markets have clearinghouses that smooth over temporary settlement failures. Examples of clearinghouses are central banks and other central counterparties that provide clearing and/or settlement services for everything from money to securities to commodities to derivatives. But here’s the problem: while the vast majority of traditional financial assets are centrally cleared and settled &#8212; including dollars at the Fed, securities at the DTC and even gold at bullion banks &amp; the LBMA &#8212; only about 8% of bitcoins are held by centralized intermediaries right now, according to Glassnode. But, in crypto, such centralized intermediaries control only a small minority of the assets. This means it’s not possible to replicate the centralized clearing model of traditional finance for Bitcoin, because individuals own the vast majority of bitcoins and most rarely trade. But looking at this from a historical lens, what’s old has become new again. Just as J.P. Morgan (the man himself) became the lender-of-last-resort during the Panic of 1907, the so-called “crypto whales” (the large individual owners of cryptoassets) have been filling the same role as lender-of-last-resort during crypto market panics, because there are no such central clearinghouses to fill that role.</span></p><p><span style="font-weight: 400;">Second, let’s move to interoperability. Here, again, historical analogies apply. I’ll divide this topic into two subsections: one from the economists’ point of view, and the other from the technologists’ point of view. One of the most relevant papers on interoperability is actually from 1999 &#8212; it’s the famous Lacker, Walker and Weinberg paper called “The Fed’s Entry Into Check Clearing Reconsidered” (h/t to Dr. Manmohan Singh of the IMF, who pointed me to it). The paper traces the history of private check clearing networks in the U.S. before the founding of the Federal Reserve in 1913, before which private correspondent banks created and integrated regional check clearing networks. But these private networks were not national and they charged fees for their services, which meant none of them were able to clear checks at par (i.e., they cleared checks at par minus their transaction fees). It wasn’t until the Fed itself later started guaranteeing the payment of checks at par in 1916, thereby creating a structural advantage relative to private networks while also mutualizing the costs of check clearing infrastructure across its member banks, that nationwide network effects truly took hold and checks became a dominant payment method across the U.S. for decades. The analogy holds true in the crypto context today, especially with regard to stablecoins. Crypto exchanges serve the role of correspondent banks. They can either be centralized exchanges (e.g., Coinbase) or decentralized exchanges that run only on code (e.g., Uniswap). But, just as </span><span style="font-weight: 400;">with</span><span style="font-weight: 400;"> the private check clearing networks of the pre-1916 era in the U.S., someone has to pay the transaction costs. Decentralized exchanges mutualize these costs by setting transaction fees as part of their smart contract, so that all users know upfront what fees they will pay (which are then deducted from the members’ trading, staking and seigniorage revenues). The stablecoin market may evolve in the same way that private check-clearing networks did, whereby a central bank guarantees payment at par and mutualizes transaction costs. But while that may be true for stablecoins, such an evolution is unlikely for a disinflationary asset such as bitcoin.</span></p><p><span style="font-weight: 400;">Speaking of interoperability from a technologists’ perspective, I’ll leave you with a few simple facts. Anyone can join the Bitcoin network, spinning up a node and syncing it with the network within a few hours. For Ethereum, syncing requires only a few days. But for ACH and Fedwire, though, integration takes many months to deal with all the intricate details&#8211;even when working with an approved integrator. A handful of U.S. banks have dealt with this problem by spending 3-4 years building proprietary middleware, to integrate their horse-and-buggy back-end into a Ferrari front-end. I’ve posited that the most significant change in U.S. banking recently was the Fed’s approval of API-native banking core software providers over the past couple of years, but today I’ll go a step further:  while all the chatter in banking today is about the era of APIs, open blockchain protocols will quickly make even APIs obsolete. If we could peer into the future of banking a decade from now and look back at today, I suspect that the following statement will have proven true: the KISS principle, or “keep it simple, stupid” will have won. It used to be that complex, proprietary technology systems whose integration requirements were difficult, always won the day. But, to quoth the proverbial raven, nevermore &#8212; not after Bitcoin shifted the paradigm for ease of integration into a global payment network, measured in hours not months. Networks whose integration requirements are too onerous relative to the benefits of integration will lose network effects. Note to CBDC software developers: KISS, if you want other developers to use your system voluntarily.</span></p><p><span style="font-weight: 400;">Finally, a very quick word on legal clarity. If a regulated financial institution cannot prove that it has clear legal title to an asset, then owning it is an unsafe &amp; unsound practice for that financial institution. I would encourage every jurisdiction globally to clarify the legal status of digital assets, and in the U.S. would encourage swift enactment of proposed UCC Article 12 to clarify the commercial and property law status of digital assets.</span></p><p><span style="font-weight: 400;">Thank you.</span></p><hr /><p><b>About Avanti:</b><span style="font-weight: 400;">  Avanti Financial Group, Inc. is a Wyoming bank formed to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets that can meet the strictest level of institutional custody standards. Avanti is required to fully comply with all applicable laws and regulations, including the Bank Secrecy Act and federal “know your customer,” anti-money laundering and related laws and regulations. Avanti will also comply with Wyoming’s special purpose depository institution and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Avanti meet the strictest consumer protections in the digital asset industry. </span><span style="font-weight: 400;">This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.</span></p><p><span style="font-weight: 400;">© 2021 Avanti Financial Group, Inc. All rights reserved. All trademarks are the property of their respective owners.</span></p></div></div></div></div></div></div></div></div></section></div></div></div>

Avanti CEO Caitlin Long Delivers Remarks at Bretton Woods Committee

<div data-elementor-type="wp-post" data-elementor-id="177" class="elementor elementor-177" data-elementor-settings="[]"><div class="elementor-inner"><div class="elementor-section-wrap"><section class="elementor-section elementor-top-section elementor-element elementor-element-8946099 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="8946099" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-757b73d" data-id="757b73d" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-62f0133 elementor-widget elementor-widget-text-editor" data-id="62f0133" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p><i><span style="font-weight: 400;">August 28, 2021; Cheyenne, Wyo. –</span></i> <span style="font-weight: 400;">Avanti Financial Group, a bank chartered to serve regulatory-compliant businesses in the digital asset industry, today confirmed press reports that it filed an application to become a Member Bank of the Federal Reserve on August 5, 2021. This membership application is different from Avanti’s prior application to obtain payment system access from the Federal Reserve via a master account, which Avanti filed in October 2020 and which remains pending. Avanti meets the requirements for both membership and payment system access, and with this latest application, Avanti becomes the first digital asset bank to seek formal regulation by the Federal Reserve in addition to its existing regulator, the Wyoming Division of Banking.</span></p><p><span style="font-weight: 400;">By applying for Federal Reserve membership, Avanti is formally accepting what it had already informally accepted, which is the very same regulatory capital, compliance and supervisory examination standards that apply to traditional banks. By approving this application, the Federal Reserve would open a pathway to its oversight of Avanti and other compliant actors in the digital asset industry that wish to meet the same requirements.</span></p><p><span style="font-weight: 400;">Key dates in Avanti’s journey include:</span></p><ul><li style="font-weight: 400;" aria-level="1"><b>June 22, 2020</b><span style="font-weight: 400;">: Avanti delivered its proposed business plan to the Federal Reserve Bank of Kansas City, including its plan to provide U.S. dollar banking services and digital asset custody services as well as to issue a banking product analogous to a stablecoin (“Avit”).</span></li><li style="font-weight: 400;" aria-level="1"><b>October 28, 2020</b><span style="font-weight: 400;">: Avanti received approval for its bank charter pursuant to an 8-0 vote of the Wyoming State Banking Board.</span></li><li style="font-weight: 400;" aria-level="1"><b>October 29, 2020:</b><span style="font-weight: 400;"> Avanti applied to the Federal Reserve for payment system access.</span></li><li style="font-weight: 400;" aria-level="1"><b>March 19, 2021</b><span style="font-weight: 400;">: Avanti completed its Series A fundraising round, bringing its total raised to date to $44 million. That is among the largest capital raises ever completed by a </span><i><span style="font-weight: 400;">de novo</span></i><span style="font-weight: 400;"> bank applicant in the U.S.</span></li><li style="font-weight: 400;" aria-level="1"><b>May 5, 2021</b><span style="font-weight: 400;">: The Federal Reserve Board in Washington, D.C. released proposed new guidelines for applicants for payment system access. </span></li><li style="font-weight: 400;" aria-level="1"><b>July 12, 2021</b><span style="font-weight: 400;">: The public comment period on the above new guidelines closed.</span></li><li><b>August 5, 2021</b><span style="font-weight: 400;">: Avanti applied to become a Member Bank.</span></li></ul></div></div></div></div></div></div></div></div></section><section class="elementor-section elementor-top-section elementor-element elementor-element-8683489 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="8683489" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0fabb4f" data-id="0fabb4f" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-226b6f5 elementor-widget elementor-widget-text-editor" data-id="226b6f5" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p>Interested parties and potential customers can contact Avanti at <a href="mailto:info@avantibank.com"><span style="color: #0000ff;">info@avantibank.com</span></a>.</p></div></div></div></div></div></div></div></div></section><section class="elementor-section elementor-top-section elementor-element elementor-element-107f052 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="107f052" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bf3ec68" data-id="bf3ec68" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-b7e17e3 elementor-widget elementor-widget-text-editor" data-id="b7e17e3" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p><b>About Avanti:</b><span style="font-weight: 400;">  Avanti Financial Group, Inc. is a Wyoming bank formed to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets that can meet the strictest level of institutional custody standards. Avanti is required to fully comply with all applicable laws and regulations, including the Bank Secrecy Act and federal “know your customer,” anti-money laundering and related laws and regulations. Avanti will also comply with Wyoming’s special purpose depository institution and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Avanti meet the strictest consumer protections in the digital asset industry. </span><span style="font-weight: 400;">This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.</span></p><p><span style="font-weight: 400;">© 2021 Avanti Financial Group, Inc. All rights reserved. All trademarks are the property of their respective owners.</span><span style="font-weight: 400;"><br /></span></p></div></div></div></div></div></div></div></div></section></div></div></div>

Avanti Statement on its Application to Become a Federal Reserve Member Bank

<div data-elementor-type="wp-post" data-elementor-id="169" class="elementor elementor-169" data-elementor-settings="[]"><div class="elementor-inner"><div class="elementor-section-wrap"><section class="elementor-section elementor-top-section elementor-element elementor-element-8946099 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="8946099" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-757b73d" data-id="757b73d" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-62f0133 elementor-widget elementor-widget-text-editor" data-id="62f0133" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p>July 12, 2021 – Cheyenne, Wyo. – Today, in response to the Federal Reserve&#8217;s request for comments on its Proposed Guidelines for Evaluating Account and Services Requests, Avanti submitted <a href="https://www.federalreserve.gov/SECRS/2021/July/20210721/OP-1747/OP-1747_071221_138730_420086027347_1.pdf">this</a> comment letter to the Federal Reserve. Additional comment letters on the Federal Reserve&#8217;s proposal can be viewed on the Federal Reserve&#8217;s website, linked <a href="https://www.federalreserve.gov/apps/foia/ViewAllComments.aspx?doc_id=OP-1747&amp;doc_ver=1" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.federalreserve.gov/apps/foia/ViewAllComments.aspx?doc_id=OP-1747&amp;doc_ver=1" data-sk="tooltip_parent">here</a>.</p></div></div></div></div></div></div></div></div></section><section class="elementor-section elementor-top-section elementor-element elementor-element-107f052 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="107f052" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bf3ec68" data-id="bf3ec68" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-b7e17e3 elementor-widget elementor-widget-text-editor" data-id="b7e17e3" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p><b>About Avanti:</b>  Avanti Financial Group, Inc. is a Wyoming bank formed to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets that can meet the strictest level of institutional custody standards. Avanti is required to fully comply with all applicable laws and regulations, including the Bank Secrecy Act, federal “know your customer” standards, and anti-money laundering and related laws and regulations. Avanti will also comply with Wyoming’s special purpose depository institution and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Avanti meet the strictest consumer protections in the digital asset industry.</p><p>This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.</p><p>© 2021 Avanti Financial Group, Inc. All rights reserved. All trademarks are the property of their respective owners.</p></div></div></div></div></div></div></div></div></section></div></div></div>

Avanti Submits Comments to Federal Reserve

<div data-elementor-type="wp-post" data-elementor-id="150" class="elementor elementor-150" data-elementor-settings="[]"><div class="elementor-inner"><div class="elementor-section-wrap"><section class="elementor-section elementor-top-section elementor-element elementor-element-b1857b4 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="b1857b4" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cc07d23" data-id="cc07d23" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-3a09f68 elementor-widget elementor-widget-text-editor" data-id="3a09f68" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><h3><i><span style="font-weight: 400;">The growing team will continue to build a safe and sound bridge between the traditional and digital asset financial systems.</span></i></h3></div></div></div></div></div></div></div></div></section><section class="elementor-section elementor-top-section elementor-element elementor-element-7d6e195 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="7d6e195" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-78c92b9" data-id="78c92b9" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-f0e7b3e elementor-widget elementor-widget-text-editor" data-id="f0e7b3e" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p><span style="font-weight: 400;">June 11, 2021 – Cheyenne, Wyo. –</span> <span style="color: #0000ff;"><a style="color: #0000ff;" href="https://avantibank.com/"><span style="font-weight: 400;">Avanti Financial Group</span></a></span><span style="font-weight: 400;"> today announced new hires in key finance and bank operations roles who will support Avanti’s experienced </span><a href="https://avantibank.com/about"><span style="font-weight: 400;"><span style="color: #0000ff;">team</span></span></a><span style="font-weight: 400;"> of traditional financial services and digital asset professionals ahead of its launch later this year. The team is bridging traditional banking and cryptocurrencies to build a next-generation digital bank. Avanti’s lineup now includes, in alphabetical order: </span></p><p><span style="font-weight: 400;"><span style="text-decoration: underline;">Gary Blumenthal: Senior Advisor, Operations</span>:</span><span style="font-weight: 400;"> Gary joins as a senior advisor working with the leadership team on a daily basis. He comes to Avanti from Grasshopper, a digital bank in New York, where he was Chief Operating Officer. Before joining Grasshopper, Gary was Managing Director in technology at UBS Wealth Management Americas. He previously worked in several large banks, including JPMorgan Chase, Morgan Stanley, and Salomon Brothers, and in 2011 he chaired the Technology Management Committee of the Securities Industry and Financial Markets Association.</span></p><p><span style="text-decoration: underline;"><span style="font-weight: 400;">Mike Borges, CPA: Chief Financial Officer</span></span><span style="font-weight: 400;">: Mike joins from Beneficial State Bank in Oakland, California, where he served as Controller for five years, built its internal controls program and gained expertise in core banking integrations. As a CPA, Mike previously held accounting roles at Bay Area technology companies Mosaic and Hotwire, and served at Moss Adams LLP as an outside auditor of community banks, financial institutions and other mid-size public and private companies. He is working in Cheyenne. </span></p><p><span style="font-weight: 400;"><span style="text-decoration: underline;">Mike Coleman, Head of Bank Operations</span>:</span><span style="font-weight: 400;"> Mike joins from FirsTier Bank in Kimball, Nebraska, where he was CFO and was in charge of bank operations and compliance. He has 19 years of banking experience, which saw him serve in a wide range of roles within community banks in the Nebraska/Wyoming region and develop expertise in end-to-end bank operations. Before joining FirsTier, Mike held operational and management roles at Hershey State Bank. He is working in Cheyenne.</span></p><p><span style="font-weight: 400;">“Avanti is thrilled to add first-class finance and operations professionals to our team ahead of our launch,” said Caitlin Long, Chief Executive Officer of Avanti. “This group has strong skills in traditional banking, which are needed to create a safe and sound bridge between traditional and digital-asset financial systems.” </span></p><p><span style="font-weight: 400;">Interested parties and potential customers can contact Avanti at </span><a href="mailto:info@avantibank.com"><span style="font-weight: 400;"><span style="color: #0000ff;">info@avantibank.com</span></span></a><span style="font-weight: 400;">. Press can contact Avanti at </span><span style="color: #0000ff;"><a style="color: #0000ff;" href="mailto:press@avantibank.com"><span style="font-weight: 400;">press@avantibank.com</span></a></span><span style="font-weight: 400;">.</span></p><p><b>About Avanti:</b><span style="font-weight: 400;">  Avanti Financial Group, Inc. is a Wyoming bank formed to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets that can meet the strictest level of institutional custody standards. Avanti is required to fully comply with all applicable laws and regulations, including the Bank Secrecy Act, federal “know your customer” standards, and anti-money laundering and related laws and regulations. Avanti will also comply with Wyoming’s special purpose depository institution and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Avanti meet the strictest consumer protections in the digital asset industry.</span></p><p><span style="font-weight: 400;">This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.</span></p><p><span style="font-weight: 400;">© 2021 Avanti Financial Group, Inc. All rights reserved. All trademarks are the property of their respective owners.</span></p></div></div></div></div></div></div></div></div></section></div></div></div>

Avanti Welcomes Best-in-Class Bank Operations and Finance Professionals from Across the U.S.

<div data-elementor-type="wp-post" data-elementor-id="148" class="elementor elementor-148" data-elementor-settings="[]"><div class="elementor-inner"><div class="elementor-section-wrap"><section class="elementor-section elementor-top-section elementor-element elementor-element-b1857b4 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="b1857b4" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cc07d23" data-id="cc07d23" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-3a09f68 elementor-widget elementor-widget-text-editor" data-id="3a09f68" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><h3><em>Longtime executives bring track record of financial innovation to Avanti</em></h3></div></div></div></div></div></div></div></div></section><section class="elementor-section elementor-top-section elementor-element elementor-element-7d6e195 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="7d6e195" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-78c92b9" data-id="78c92b9" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-f0e7b3e elementor-widget elementor-widget-text-editor" data-id="f0e7b3e" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p><span style="font-weight: 400;">June 8, 2021; Cheyenne, Wyo. –</span> <span style="color: #0000ff;"><a style="color: #0000ff;" href="https://avantibank.com/"><span style="font-weight: 400;">Avanti Financial Group</span></a></span><span style="font-weight: 400;"> today announced the appointment of Neil Schloss, former treasurer of Ford Motor Company; Bob Cullinan, former head of treasury IT at Ford; and Tim Keefe, founding partner of LedgerStat Capital and former managing director at BlackRock, as advisors to the digital asset bank. Keefe brings to Avanti deep expertise and relationships in both institutional asset management and Bitcoin. Schloss and Cullinan are assisting Avanti’s technology and product structure to meet the needs of corporate treasury customers, using Avanti’s API-based payment systems to solve invoice-to-payment reconciliation problems and improve treasury operations. </span></p><p><span style="font-weight: 400;">“It is a thrill to formalize for Avanti longtime informal advisory relationships I have enjoyed with Neil, Bob and Tim,” said Caitlin Long, founder and CEO of Avanti. “For years we’ve had fun spitballing about how to fix plumbing issues in financial markets, including the role of digital assets. Neil is one of my personal business heroes for what he and his team accomplished for Ford during the 2008 financial crisis.”</span></p><p><span style="font-weight: 400;">“Avanti is building API-based payment solutions to automate US dollar payment processes using software. I see opportunities for companies to use their solutions to solve day-to-day problems by seamlessly integrating payments processes with their treasury cash management systems,” said Schloss. “I see Avanti’s solutions as potential game changers for corporate treasurers.”</span></p><p><span style="font-weight: 400;">Mr. Schloss retired from Ford Motor Company in 2018 after a 36-year career at Ford. He was treasurer from 2007 to 2017 and retired after serving as Chief Financial Officer of Ford Mobility, the automaker’s integrated mobility solutions segment. He helped build the modern, agile Ford that exists today, playing a central role in engineering the plan that kept Ford afloat as the 2008 financial crisis devastated the auto industry. He also helped start Ford Mobility, which is one of the core pillars to the automaker’s future. Schloss is currently an independent director of Karamba Security, BNP Paribas U.S., and Phantom Auto, and serves on the investment committee of The Fisher Group/Fisher Foundation.</span></p><p><span style="font-weight: 400;">Mr. Cullinan retired as Director of Information Technology at Ford Motor Company, where most recently he was responsible for global IT resources in Ford’s corporate treasury department. Bob worked for Ford during his entire 49-year career in various domestic and international roles. He is an expert in corporate treasury management systems.</span></p><p><span style="font-weight: 400;">Mr. Keefe left the traditional asset management business after a 26-year career to build LedgerStat Capital, a digital asset advisor dedicated to building and scaling the Bitcoin ecosystem. Most recently he was a managing director and portfolio manager of equity funds at BlackRock. He spent most of his career as a portfolio manager at John Hancock Funds. He is currently a general partner at Off The Chain Capital.</span></p><p><span style="font-weight: 400;">Interested parties and potential customers can contact Avanti at <a href="mailto:info@avantibank.com"><span style="color: #0000ff;">info@avantibank.com</span></a></span><span style="font-weight: 400;">. Press can contact Avanti at </span><span style="font-weight: 400;"><a href="mailto:press@avantibank.com"><span style="color: #0000ff;">press@avantibank.com</span></a></span><span style="font-weight: 400;">.</span></p><p><b><span style="text-decoration: underline;">About Avanti</span>:</b><span style="font-weight: 400;">  Avanti Financial Group, Inc. is a Wyoming bank formed to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets that can meet the strictest level of institutional custody standards. Avanti is required to fully comply with all applicable laws and regulations, including the Bank Secrecy Act, federal “know your customer” standards, and anti-money laundering and related laws and regulations. Avanti will also comply with Wyoming’s special purpose depository institution and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Avanti meet the strictest consumer protections in the digital asset industry.</span></p><p><span style="font-weight: 400;">This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.</span></p><p><span style="font-weight: 400;">© 2021 Avanti Financial Group, Inc. All rights reserved. All trademarks are the property of their respective owners.</span></p></div></div></div></div></div></div></div></div></section></div></div></div>

Avanti Announces Former Ford Motor Company, BlackRock Managers As Advisors

<div data-elementor-type="wp-post" data-elementor-id="110" class="elementor elementor-110" data-elementor-settings="[]"><div class="elementor-inner"><div class="elementor-section-wrap"><section class="elementor-section elementor-top-section elementor-element elementor-element-7d6e195 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="7d6e195" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-78c92b9" data-id="78c92b9" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-f0e7b3e elementor-widget elementor-widget-text-editor" data-id="f0e7b3e" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p><i><span style="font-weight: 400;">May 5th, 2021; Cheyenne, WY</span></i><span style="font-weight: 400;"> –</span>&nbsp;</p><p>Statement from Caitlin Long, founder, chairman and CEO, Avanti:<br></p><p>“To see the Federal Reserve propose to formally recognize nontraditional bank charters as eligible for payment system access is a welcome development. It’s a great stride for the system and industry, and we appreciate the consistency and transparency this framework would afford. We also applaud the Fed’s openness to greenlighting innovation. This move toward federal recognition validates the pioneering work the state of Wyoming has done to introduce a wave of innovation in financial services. Wyoming’s special purpose depository institution (SPDI) framework for nontraditional banks &#8212; the first novel bank charter in the U.S. in decades &#8212; fits within the Fed’s proposed principles. As the second recipient of an SPDI charter, Avanti looks forward to demonstrating in practice that SPDIs can and do meet the highest regulatory standards for safety and soundness, with rigorous oversight.”</p><p>Interested parties and potential customers can contact Avanti at&nbsp;<a href="mailto:info@avantibank.com" target="_blank" rel="nofollow noopener">info@avantibank.com</a>.</p><p>For press inquiries please contact:<br><a href="mailto:info@avantibank.com" rel="noreferrer noopener" target="_blank">press@avantibank.com</a><br></p><p>* Patent Pending</p><p><b><u>About Avanti:</u></b>&nbsp; Avanti Financial Group, Inc. is a&nbsp;<span>Wyoming</span>&nbsp;bank formed to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets that can meet the strictest level of institutional custody standards. Avanti is required to fully comply with all applicable laws and regulations, including the Bank Secrecy Act and federal &#8220;know your customer,&#8221; anti-money laundering and related laws and regulations. Avanti will also comply with&nbsp;<span>Wyoming&#8217;s</span>&nbsp;special purpose depository institution and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Avanti meet the strictest consumer protections in the digital asset industry. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.</p><p><span style="font-weight: 400;">© 2021 Avanti Financial Group, Inc. All rights reserved. All trademarks are the property of their respective owners.</span></p></div></div></div></div></div></div></div></div></section></div></div></div>

Avanti Bank Statement on Federal Reserve Board Review of Payments System Access

<div data-elementor-type="wp-post" data-elementor-id="107" class="elementor elementor-107" data-elementor-settings="[]"><div class="elementor-inner"><div class="elementor-section-wrap"><section class="elementor-section elementor-top-section elementor-element elementor-element-7d6e195 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="7d6e195" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-78c92b9" data-id="78c92b9" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-f0e7b3e elementor-widget elementor-widget-text-editor" data-id="f0e7b3e" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p><i><span style="font-weight: 400;">March 25, 2021; Cheyenne, WY</span></i><span style="font-weight: 400;"> –</span> Avanti Financial Group today announced the closing of its Series A financing round, which raised&nbsp;<span class="xn-money">$37 million</span>&nbsp;for the start-up digital asset bank. Use of proceeds is to fund Avanti&#8217;s required regulatory capital needed for launch, as well as to fund engineering build and other operating expenses. The offering was upsized twice due to market demand. Avanti has raised a total of&nbsp;<span class="xn-money">$44 million</span>&nbsp;since its inception.<span style="font-weight: 400;">&nbsp;</span></p><p>Series A shareholders include a global mix of institutional investors, cryptocurrency companies and family offices, as well as multiple Avanti executives and directors. Individual investors prominent in the cryptocurrency, tech and traditional asset management industries include&nbsp;<span class="xn-person">Trace Mayer</span>,&nbsp;<span class="xn-person">Marcel Kasumovich</span>,&nbsp;<span class="xn-person">Rob Kauffman</span>&nbsp;(Aldel Capital),&nbsp;<span class="xn-person">Tim Keefe</span>,&nbsp;<span class="xn-person">Lawrence Lepard</span>,&nbsp;<span class="xn-person">Eric Ly</span>&nbsp;and others. Institutional investors include 1843 Capital, AP Capital, Banca del Ceresio, Binance.US, Coinbase Ventures, ECMC Group, Equity Management Associates, Greybull Stewardship, Hard Yaka, HashKey, Holon Global Investments, Lemniscap, Madison Paige Ventures, Morgan Creek Digital, PJT Partners, Slow Ventures, Susquehanna Private Equity Investments and The&nbsp;<span class="xn-org">University of Wyoming</span>&nbsp;Foundation, among others. PJT Partners acted as sole placement agent for Avanti.</p><p>&#8220;As Bitcoin and digital asset markets mature and financialization network effects take root, there is a tremendous need for both well crafted laws and experienced, competent operators. When surveying the globe, in my opinion&nbsp;<span class="xn-location">Wyoming</span>&nbsp;best meets these needs generally, and the Avanti team specifically is among the most potent institutional-quality human capital,&#8221; said&nbsp;<span class="xn-person">Trace Mayer</span>, who formed the consortium that led Avanti&#8217;s Series A and is an early Bitcoin adopter and investor in Bitcoin industry infrastructure. &#8220;Avanti is extremely well positioned to competently answer questions that most in the industry have not even thought about yet.&#8221;</p><p>&#8220;We thank our investors for helping Avanti build a new breed of bank that services Bitcoin and also offers meaningful API capabilities for U.S. dollar transactions to tech-savvy customers,&#8221; said&nbsp;<span class="xn-person">Caitlin Long</span>, Avanti&#8217;s founder and chief executive officer. &#8220;Our roadmap includes offering API-based U.S. dollar payment services for wires, ACH and SWIFT; issuance of our tokenized, programmable U.S. dollar called Avit<sup>™</sup>*; and custody and on-/off-ramp services for bitcoin and other digital assets. We have received more than 2,500 inbound customer inquiries since announcing receipt of our bank charter in&nbsp;<span class="xn-chron">October 2020</span>, and we look forward to being able to service customers later this year. We expect to provide more details about our launch soon.&#8221;</p><p>Interested parties and potential customers can contact Avanti at&nbsp;<a href="mailto:info@avantibank.com" target="_blank" rel="nofollow noopener">info@avantibank.com</a>.</p><p>For press inquiries please contact:<br><a href="mailto:info@avantibank.com" rel="noreferrer noopener" target="_blank">press@avantibank.com</a><br></p><p>* Patent Pending</p><p><b><u>About Avanti:</u></b>&nbsp; Avanti Financial Group, Inc. is a&nbsp;<span class="xn-location">Wyoming</span>&nbsp;bank formed to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets that can meet the strictest level of institutional custody standards. Avanti is required to fully comply with all applicable laws and regulations, including the Bank Secrecy Act and federal &#8220;know your customer,&#8221; anti-money laundering and related laws and regulations. Avanti will also comply with&nbsp;<span class="xn-location">Wyoming&#8217;s</span>&nbsp;special purpose depository institution and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Avanti meet the strictest consumer protections in the digital asset industry. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.</p><p><span style="font-weight: 400;">© 2021 Avanti Financial Group, Inc. All rights reserved. All trademarks are the property of their respective owners.</span></p></div></div></div></div></div></div></div></div></section></div></div></div>

Avanti Completes $37 Million Series A Financing Ahead of Digital Asset Bank Launch

<div data-elementor-type="wp-post" data-elementor-id="93" class="elementor elementor-93" data-elementor-settings="[]"><div class="elementor-inner"><div class="elementor-section-wrap"><section class="elementor-section elementor-top-section elementor-element elementor-element-7d6e195 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="7d6e195" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-78c92b9" data-id="78c92b9" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-f0e7b3e elementor-widget elementor-widget-text-editor" data-id="f0e7b3e" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p><i><span style="font-weight: 400;">October 28, 2020; Cheyenne, WY</span></i><span style="font-weight: 400;"> –</span> <span style="font-weight: 400;">The Wyoming State Banking Board today voted 8-0 to grant Avanti Bank &amp; Trust a bank charter, the type of which gives Avanti the same powers as national banks in its approved business lines. </span><span style="font-weight: 400;">Avanti’s approved business plan includes several products and services, including a tokenized U.S. dollar called Avit™*; custody services for digital assets as a “qualified custodian” under the Investment Advisers Act; API-based online banking services, where customer deposits must be 100% backed by reserves; and prime services for digital assets. Avanti plans to provide commercial accounts in early 2021 and other accounts with high minimum balance requirements soon thereafter.&nbsp;</span></p><p><span style="font-weight: 400;">“Avanti’s mission is to provide a compliant bridge between the traditional and digital asset financial systems, with the strictest level of institutional custody standards,” said Caitlin Long, Avanti’s founder and chief executive officer. “We will provide products and services that do not exist in the market today. Currently the only type of U.S. financial institution that can provide final and simultaneous settlement of trades between digital assets and the U.S. dollar—because it is the only type currently approved to handle both within the same legal entity—is a Wyoming special purpose depository institution like Avanti. Wyoming has the only U.S. regulator with a bank supervisory and regulatory program for digital assets that is near completion.”</span></p><p><span style="font-weight: 400;">Avanti’s approved products include the issuance of a tokenized U.S. dollar, Avit (rhymes with “have it”). Avit is designed to solve widely-acknowledged problems with legacy payment systems faced by traders, investors and corporate treasurers. Nicknamed the “stablecoin disruptor,” it is also designed to solve the legal, accounting and tax issues of stablecoins. “We need this product yesterday,” said the chief executive officer of one of Avanti’s likely initial customers, in describing Avit. Executed by a highly experienced and proven engineering team, Avanti plans to issue Avit initially on both Liquid (a sidechain of the Bitcoin blockchain, in coordination with Blockstream) and Ethereum, and will consider issuing Avit on other blockchains in the future based on customer demand and its assessment of network security.</span></p><p><span style="font-weight: 400;">As a bank, Avanti will fully comply with all applicable Bank Secrecy Act, anti-money laundering and OFAC-related laws, rules and regulations.</span></p><p><span style="font-weight: 400;">Interested parties and potential customers can contact Avanti at </span><a href="mailto:info@avantibank.com"><span style="font-weight: 400;">info@avantibank.com</span></a><span style="font-weight: 400;">.&nbsp;</span></p><p>For press inquiries please contact:<br><a href="mailto:info@avantibank.com" rel="noreferrer noopener" target="_blank">press@avantibank.com</a><span style="font-weight: 400;"><br></span></p><p><span style="font-weight: 400;">* Patent Pending</span></p><p><b>About Avanti:</b><span style="font-weight: 400;">&nbsp; Avanti Financial Group, Inc. is a Wyoming bank formed to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets that can meet the strictest level of institutional custody standards. Avanti will be required to fully comply with all applicable laws and regulations, including the Bank Secrecy Act and federal “know your customer,” anti-money laundering and related laws and regulations. Avanti will also comply with Wyoming’s special purpose depository institution and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Avanti meet the strictest consumer protections in the digital asset industry. </span><span style="font-weight: 400;">This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.</span></p><p><span style="font-weight: 400;">© 2020 Avanti Financial Group, Inc. All rights reserved. All trademarks are the property of their respective owners</span><span style="font-weight: 400;"><br></span></p></div></div></div></div></div></div></div></div></section></div></div></div>

Avanti Granted Bank Charter And Approval Of Business Plan For Digital Asset Custody And Tokenized U.S. Dollar

<div data-elementor-type="wp-post" data-elementor-id="70" class="elementor elementor-70" data-elementor-settings="[]"><div class="elementor-inner"><div class="elementor-section-wrap"><section class="elementor-section elementor-top-section elementor-element elementor-element-30a15fc elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="30a15fc" data-element_type="section"><div class="elementor-container elementor-column-gap-default"><div class="elementor-row"><div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-52c50fe" data-id="52c50fe" data-element_type="column"><div class="elementor-column-wrap elementor-element-populated"><div class="elementor-widget-wrap"><div class="elementor-element elementor-element-26a8728 elementor-widget elementor-widget-text-editor" data-id="26a8728" data-element_type="widget" data-widget_type="text-editor.default"><div class="elementor-widget-container"><div class="elementor-text-editor elementor-clearfix"><p><i>July 23, 2020; Cheyenne, WY</i> – Avanti Financial Group, Inc. received formal notice from the Wyoming Division of Banking that Avanti’s application for a bank charter was accepted as complete on July 15, and that its application timeline has been accelerated. As a result, Avanti now expects to open for banking business as early as October 2020.</p><p>“Our charter application incorporates truly novel ideas that have received detailed scrutiny from multiple regulators. It is the culmination of an enormous effort by Avanti’s fantastic team &#8212; several thousand hours of planning and work with regulators, and hundreds of pages of supporting policies, procedures and documentation,” said Caitlin Long, founder and CEO.&nbsp;</p><p>Avanti also announced a new product to modernize US dollar payments, called Avit<span style="color: rgb(77, 81, 86); font-family: arial, sans-serif; font-size: 14px;">™</span>, which is also nicknamed ‘the stablecoin disruptor.’ Able to be issued only by a bank, Avit is not a security and will likely be treated as a cash equivalent. It offers legal certainty because it will be issued under existing U.S. commercial laws. Programmable via Avanti’s user-friendly API, Avit is designed for use by institutional traders and corporate treasurers when they prefer a real-time payment settlement solution in US dollars that does not suffer from the delayed settlement and chargeback issues of traditional payment solutions, or the legal, accounting and tax issues of stablecoins. This product builds on Avanti’s digital asset custody platform, executed by a highly experienced and proven engineering team.&nbsp;</p><p>“I’m thrilled that the OCC yesterday followed Wyoming in allowing banks to provide custody for digital assets,” Long continued. “Wyoming has been developing its digital asset custody initiative for two years and already has a comprehensive framework and supervisory process in place, which does not exist elsewhere. The OCC and 49 other states do not yet have in place the comprehensive legal structure necessary for enabling digital asset custody without significant legal risk. They also do not have a roadmap for courts to adjudicate disputes involving digital assets and do not provide the certainty in bankruptcy that Wyoming provides for digital asset custodians. Its prudential standards make Wyoming the only jurisdiction in the U.S. where digital asset custody in a bank can truly be executed in a safe and sound manner.”</p><p>For press inquiries please contact:<br><a href="mailto:info@avantibank.com" rel="noreferrer noopener" target="_blank">press@avantibank.com</a><br></p><p><b><u>About Avanti</u></b>:&nbsp; Avanti Financial Group, Inc. is a Wyoming corporation formed to apply for a bank charter under Wyoming’s special purpose depository institution (“SPDI”) law. Based in Cheyenne, WY, it will likely do business under the name “Avanti Bank &amp; Trust.” Avanti expects to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets that can meet the strictest level of institutional custody standards. Avanti will be required to fully comply with all applicable laws and regulations, including federal “know your customer,” anti-money laundering and related laws and regulations. As an SPDI, Avanti will also comply with Wyoming’s SPDI and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Avanti meet the strictest consumer protections in the digital asset industry.</p><p><b><u>Disclaimer and Cautionary Note Regarding Forward-Looking Statements</u></b>.&nbsp; The press release does not constitute an offer to sell or a solicitation of an offer to purchase any securities of Avanti Financial Group, Inc., and does not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as &#8220;may&#8221;, &#8220;future&#8221;, &#8220;plan&#8221; or &#8220;planned&#8221;, &#8220;will&#8221; or &#8220;should&#8221;, &#8220;expected,&#8221; &#8220;anticipates&#8221;, &#8220;draft&#8221;, &#8220;eventually&#8221; or &#8220;projected&#8221;. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.</p><p></p><p>© 2020 Avanti Financial Group, Inc. All rights reserved. All trademarks are the property of their respective owners.</p><div>&nbsp;</div></div></div></div></div></div></div></div></div></section></div></div></div>

Avanti Financial Group Announces Accelerated Charter Application

<p><em>July 8, 2020; Cheyenne, WY</em> –<strong> </strong>Avanti Financial Group, Inc. today announced its initial adviser appointments, which include an internet pioneer, a former official with the Board of Governors of the Federal Reserve System’s bank supervision and regulation division and a top engineer who previously built a secure, regulated platform for digital asset custody. Avanti, which has submitted its application for a bank charter under Wyoming’s special-purpose depository institution law, expects to open its doors by early 2021 and to serve as a compliant bridge between digital assets and the U.S. dollar payments system.</p><p><strong>Christopher Allen</strong> &#8212; Christopher is a pioneer in internet cryptography and co-author of the TLS security standard, the cryptographic protocol that secures most of the internet’s traffic today. He is an entrepreneur and technologist who specializes in collaboration, security, and trust. Christopher’s recent emphasis has been on engines of trust such as blockchain, smart contracts, and smart signatures, in particular decentralized self-sovereign identity. Christopher is founder of Blockchain Commons, former co-chair of the W3C Credentials Community Group incubating specifications for decentralized identity, and a former principal architect at Blockstream.</p><p><strong>Katie Cox</strong> &#8212; Katie has over 30 years of bank regulatory experience. Most recently, as Manager of the Mergers &amp; Acquisitions Section of the Board of Governors of the Federal Reserve System from 2010-2020, she was a key official responsible for mergers and acquisitions of banks within the Federal Reserve System. During her career, she presented policy setting bank mergers and acquisition proposals to numerous chairs of the Federal Reserve System. She also was a key developer of Federal Reserve System guidance, including SR13-7 <em>State Member Bank Branching Consideration</em>s and SR 14-2 <em>Enhancing Transparency in the Applications Process</em>.</p><p><strong>Bob McElrath </strong>&#8212; Bob most recently was the lead blockchain architect at Fidelity Digital Assets, which is the digital asset subsidiary of Fidelity Investments, where he built a secure, regulatory-compliant platform for custody of Bitcoin and related services. Prior to that, he was Chief Scientist and Chief Technology Officer of Vida Identity (now Atakama, a subsidiary of SolidX), a senior software engineer at Bloomberg, LP, and Chief Technology Officer of Ribbit Rewards (now Loyyal). Bob earned a PhD in theoretical particle physics from the University of Wisconsin. He completed a fellowship at CERN and post-docs at UC-Davis and the University of Heidelberg. </p><p><strong>About Avanti:</strong>&nbsp; Avanti Financial Group, Inc. is a Wyoming corporation formed to apply for a bank charter pursuant to Wyoming’s special-purpose depository institution (“SPDI”)&nbsp; laws. Based in Cheyenne, WY, it will likely do business under the name “Avanti Bank &amp; Trust.” Avanti expects to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets that can meet the strictest level of institutional custody standards. Avanti will be required to fully comply with all applicable laws and regulations, including federal “know your customer,” anti-money laundering and related laws and regulations. Avanti will also comply with Wyoming’s SPDI and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Avanti meet the strictest consumer protections in the digital asset industry.</p><p>© 2020 Avanti Financial Group, Inc. All rights reserved. All trademarks are the property of their respective owners.</p>

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