Phantom (FTM) altcoin founder Andre Cronje has announced his intention to launch a new cryptocurrency-friendly bank by the end of this year.
Cronje responded in a series of tweets to a follower who complained that digital banking app Revolut closed his personal and business accounts after learning that the source of funding was crypto.
Cronje Marks 2023 For Crypto-Friendly Bank
Cronje said it can add its tracker to the closed beta for its payment infrastructure, and a card service will be available by the end of 2023. He also revealed that he is working on a cryptocurrency-friendly bank that will launch later this year.
Fantom (FTM) is a smart contract platform that aims to provide decentralized finance (DeFi) services to developers using its own consensus algorithm.
However, Cronje explained that his bank cannot avoid KYC (know your customer) requirements as it will operate under a standard banking license. He also said that he is unsure whether to accept US citizens, given the country's stance on crypto regulation.
Andre Cronje is the co-founder and architect of Fantom, a smart contract platform that provides DeFi services to developers. He is also the founder of yearn.finance, a decentralized aggregator of various DeFi protocols, and the founder of Keep3r Network, a decentralized marketplace for technical business.
Andre Cronje is a controversial name for several reasons.
He was accused of initiating unfinished and unaudited projects that caused losses to investors such as Eminence and LBI.
It has also been criticized for a lack of communication and transparency with the community after announcing its departure from DeFi in March 2022.
*Not investment advice.