ANDRE CRONJE: "If you're asking whether or not Fantom has obtained a banking license and is launching a crypto friendly bank, the answer is yes, that is happening."

In late April 2023, Fantom architect Andre Cronje confirmed on Twitter that a Fantom-affiliated entity had obtained a standard banking license and was working on launching a crypto‑friendly bank. The comment came in response to a discussion about neobank Revolut and its limited crypto support, where Cronje offered access to a closed beta for payments infrastructure and said a card product would be available by the end of 2023, with a crypto‑friendly bank open to the public within the same year. He emphasized that this would not be a loophole to bypass compliance, stating that it is a normal regulated bank and that KYC would be mandatory. Coverage from crypto media at the time framed this as an attempt to build banking rails tightly integrated with the Fantom ecosystem, potentially offering cards and payment services that interact more smoothly with digital assets than many traditional banks. Cronje also noted that, while the license would technically allow U.S. access, the team was unlikely to serve U.S. citizens due to the regulatory environment. As of subsequent reporting, the project was still characterized as in development rather than a fully launched retail bank, and detailed public information about the specific jurisdiction, corporate entity, and product feature set has remained limited, underscoring that Cronje’s statements were more of a forward‑looking disclosure than a formal, fully detailed launch announcement.

✨ AI-generated background, compiled from web sources — not editorial content.

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