Protego Trust Bank, which holds a cryptocurrency banking licence in the United States, has opened a Series B round. Based on its results, the company expects a $2 billion valuation, The Block reports.
According to sources cited by the publication, talks are at an early stage and there is no hard deadline.
In 2021, in the previous round Protego Trust Bank’s $70 million round included investments from FTX, Coinbase, Algorand, Avalanche, Cardano, Ripple, Solana, Digital Currency Group, NYCA Partners and Reciprocal Ventures.
Protego Trust Bank received a cryptocurrency bank licence in February 2021. The licence is also held by Paxos and Anchorage. The latter has recently drawn concerns from the Office of the Comptroller of the Currency (OCC) regarding the implementation of its compliance program.
In April 2022, Circle CEO Jeremy Allaire сообщил that the company he leads was preparing to file an application for a similar license.
In August 2021, Allaire promised that Circle would become “a commercial cryptocurrency bank with full reserves”, whose activities would be regulated in accordance with the risk-management requirements of the ФРС, the US Department of the Treasury, the OCC and the FDIC.
The regulator also promised in 2022 to publish additional guidance on integrating cryptocurrencies into banks’ product lines.
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