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Digital asset bank Custodia is suing the Federal Reserve over an application delay

Digital asset bank Custodia, previously known as Avanti, is suing the Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City for delaying a decision on its application for a central bank master account. A Federal Reserve master account allows institutions direct access to the Fed’s payment systems. It enables the most direct access to the US’s money supply available to financial institutions. Those without master accounts are often forced to rely on partner banks with master …

Digital Asset Banking: The Natives

January 4, 2022, 12:17PM EST • 10 min read Quick Take The US now has 7 crypto-native banks operating under state or federal charters Since OCC regulation on digital banking in July 2020, 2 Wyoming and 3 OCC charters approved Crypto-native banks lead in offering custody, real-time payment and OTC trading solutions Join The Block Research for exclusive research like this Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, …