Avanti Financial Group, Inc. today announced our new name, Custodia Bank, Inc., as a countdown to the launch of the first-of-its-kind digital asset bank. Custodia Bank™ plans to launch in Q2 with U.S. dollar deposit accounts for business customers, initially providing ACH and Fedwire services. Our post-launch roadmap includes digital asset custody, Avit™ (a payment instrument akin to a digital cashier’s check) and prime services, facilitated by customer-facing APIs to enable the programmability of payments by customers.
“Our new brand aligns with the needs of our ideal customers, including businesses that need access to tech-forward U.S. dollar banking services and access to digital assets. Currently, those two functions are separate. Additionally, few banks in the U.S. operate on API-based core banking platforms. These platforms are a necessary bridge between traditional and digital asset systems,” said Caitlin Long, founder and chief executive officer of Custodia Bank. “Custodia was purpose-built to bridge the two worlds in a safe and sound manner.”
U.S. commercial customers can contact Custodia at [email protected].