FV Bank Further Expands Stablecoin integration into TradFi with USDT Real-Time USD Conversion

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SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Dec 5, 2024--

FV Bank, the U.S. licensed digital bank that offers a vertically-integrated suite of traditional and digital asset banking and custody services, today announced a further enhancement to its service offering with the integration of the stablecoin USDT for direct deposits. This deposit feature, now live for all FV Bank account holders, allows them to directly receive USDT as US Dollars into their FV Bank USD accounts with USDT converted to USD in real-time.

USDT, the world's leading stablecoin with a market cap exceeding $125 billion USD, provides a fast and efficient solution for individuals and businesses to manage payments and remittances. FV Bank’s new USDT service reinforces its dedication to simplifying and accelerating cross-border financial transactions, delivering an enhanced banking experience. The ability to instantly convert USDT to USD provides a seamless and efficient solution for global customers, empowering them to manage both digital and fiat assets with unparalleled ease. By eliminating the dependency on traditional bank wires and exchange fees, FV Bank’s USDT direct deposit feature offers a streamlined option for high-volume and smaller-scale international transfers alike.

“The integration of USDT deposits marks another significant milestone in our mission to serve the global fintech and digital asset community,” said Miles Paschini, CEO of FV Bank. “This innovation positions us at the forefront of regulated financial institutions offering comprehensive stablecoin on-ramp and off-ramp services. We have also seamlessly integrated our blockchain analytics tools to pre-screen and detect transactions which may be linked to sanctions or AML activity ensuring our compliance with regulations. As a result, our clients now have greater flexibility and convenience in accepting payments and managing their funds.”

The expansion builds on FV Bank’s successful integration of Circle’s USDC in September 2021. With the addition of USDT, FV Bank further diversifies its suite of stablecoin offerings, solidifying its role as a leader in modern banking solutions. This capability provides global customers with a wider range of deposit options, including USD, EUR, USDC, and now USDT, catering to the various needs of its international clientele in the fintech and digital asset sectors.

As the adoption of digital assets continues to rise, FV Bank remains committed to evolving and enhancing its services to meet the demands of its growing customer base. The introduction of USDT direct deposits not only demonstrates FV Bank’s proactive approach to financial innovation but also highlights its dedication to offering secure, compliant, and forward-thinking banking services.

About FV Bank

FV Bank is a fully licensed and regulated bank offering a vertically integrated suite of digital asset and traditional banking services. With a focus on innovation, security, and compliance, FV Bank is Banking the Future by providing USD banking, digital asset custody services, money market accounts, Visa debit cards and stablecoin conversions, all accessible via a single, unified platform.

For more information about FV Bank, please visit https://www.fvbank.us/

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CONTACT: Media

David Lewis

The Top Floor Public Relations

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KEYWORD: CARIBBEAN PUERTO RICO NORTH AMERICA CANADA

INDUSTRY KEYWORD: TECHNOLOGY FINANCE FINTECH BANKING PROFESSIONAL SERVICES DIGITAL CASH MANAGEMENT/DIGITAL ASSETS BLOCKCHAIN DATA MANAGEMENT ASSET MANAGEMENT OTHER PROFESSIONAL SERVICES

SOURCE: FV Bank

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PUB: 12/05/2024 06:00 AM/DISC: 12/05/2024 06:02 AM

http://www.businesswire.com/news/home/20241205640447/en