Avanti Financial Group recently announced that it has started appointing people in its leadership team. Avanti Financial Group is a Wyoming organization that was set up for applying for a bank charter under the depository for the special-purpose institution law of Wyoming. It is based out in Cheyenne, WY, and operates under the name of “Avanti Bank & Trust.”
The firm is planning to register for a bank charter under the reign of the special-purpose depository institution law of Wyoming’s. It is anticipated that it would begin its operations by 2021 early in an endeavor to provide compliant support for the digital assets and the dollar payment system of the U.S.
Caitlin Long, founder & CEO, says,
The team members are expected to work in close collaboration with the technology partner of Avanti, Blockstream. These partners include:
Co-founder, chief technology officer: Bryan Bishop
Bishop had served as a core developer for bitcoin and was designated as senior blockchain engineer along with the LedgerX’s custody architect. LedgerX is the first options exchange regulated by CFTC. It is also a digital assets clearinghouse since 2014-2018.
Britney Reddy, co-founder, chief of banking operations and chief financial officer
Reddy is an executive bank consultant and has earlier worked with the president, CEO, CTO, COO and CCO roles at various banks of the Wyoming community. She is right now undertaking an assignment while helping part-time at Avanti. She will soon be joining full time.
Chuck Thompson, co-founder, chief compliance officer and chief legal officer:
Mr. Thompson has worked as the CEO at Blockchain Consulting LLC. He was designated as the LedgerX’s chief compliance officer and worked closely with Mr. Bishop. Prior to this, he worked as in-house counsel for the firms of capital markets such as Morgan Stanley, Gottlieb, Shearman & Sterling and Steen & Hamilton.
Zev Shimko, co-founder, chief operating officer:
Mr. Shimko is to join Avanti in April as a full-time employee. He is a director at Figure and focuses on enterprise blockchain endeavors of the company. He headed the SALT’s corporate development before this. SALT is a blockchain-based lender.
Avanti is required to be fully compliant with all the requisite laws & regulations, such as federal law of know your customer, laws of anti-money laundering, etc. The firm is also compliant with SPDI and digital asset laws of Wyoming, which includes requirements of fiat deposits being 100% reserved while Avanti continues to align with the staunch consumer protections for the digital industry.