What Happened on Mar. 13th | Centralized Crypto Company Needs Their Own Bank
Several notable names in the crypto industry have expressed their interest in establishing a bank specifically for the industry. Jeremy Allaire, the founder of Circle, said in a tweet:
We've long advocated for full-reserve digital currency banking that insulates our base layer of internet money and payment systems from fractional reserve banking risk.
Brian Armstrong, the founder of Coinbase, also stated in a tweet that Coinbase has previously considered becoming a neo-bank of sorts and invited for comments in the Twitter thread and suggested that non-fractional reserve "banking" is definitely looking more attractive right now.
Definitely something we've thought about. Need a few more features like outbound wires, multi-user support etc. Non-fractional reserve "banking" is definitely looking more attractive right now.
Separately, Juntin Sun, the founder of Tron, said in a tweet:
It's time to build a reliable bank that can cater to the needs of the crypto industry. As a supporter of this ecosystem, I'm open to any idea that can help create such a bank.
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