The cryptocurrency industry has grown immensely and is poised for even further expansion. However, businesses wishing to transact in both digital assets and traditional currency currently face the challenge of managing these transactions through separate channels, placing a strain on their banking capabilities.
Custodia has been purposefully designed to bridge this gap in the banking sector. It operates under a banking license, enabling it to seamlessly handle both dollars and cryptocurrencies. What sets Custodia apart in the market is its status as a fully-fledged bank, reassuring customers that it adheres to the rigorous standards of the Bank Secrecy Act and other pertinent financial regulations.
Acknowledging the challenging "crypto winter" that followed the influx of new investors in recent years, Custodia attributes much of the turbulence to inadequate regulation within the industry, including the failure to penalize bad actors and the sluggish approval of reputable companies. To overcome these hurdles, Custodia has secured substantial funding, serving as regulatory capital for its launch, as well as supporting ongoing operational expenses and engineering development.
Steph
Company Specialist at Welcome to the Jungle
