Avanti Financial Group, Inc. is a Wyoming corporation formed to apply for a bank charter under Wyoming’s special-purpose depository institution (“SPDI”) law. Based in Cheyenne, WY, it will likely do business under the name “Avanti Bank & Trust.” Avanti expects 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. Avanti will be required to fully comply with all applicable laws and regulations, including federal “know your customer,” anti-money laundering and related laws and regulations. Avanti will also comply with Wyoming’s SPDI and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Avanti meet the strictest consumer protections in the digital asset industry.

Subject to approval of its application, Avanti plans to open its doors by early 2021.