Avanti Is Now Custodia, Announces Countdown to Launch in Q2

Custodia is the first U.S. digital asset bank built on a modern core banking platform

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].

Interested parties and potential customers can contact Custodia at [email protected]. Press can contact Custodia at [email protected].

About Custodia: Custodia Bank, 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. Custodia 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. Custodia 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 Custodia meet the strictest investor 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.

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