Commercium Financial, Inc Granted Wyoming SPDI Bank Charter
The first US Digital Bank to tokenize real world assets.
CHEYENNE, Wyo., Aug. 10, 2021 /PRNewswire-PRWeb/ -- Commercium Financial, Inc is pleased to announce it was granted a new Bank Charter on August 9, 2021 by the Wyoming Division of Banking as a Special Purpose Depository Institution ("SPDI"). This charter gives Commercium the unique ability to bridge the gap between the digital financial world and the traditional banking systems. Commercium Financial is the fourth SPDI to receive approval.
"This Charter allows us to deploy a unique set of technology solutions that connect traditional banking systems to tokenized assets and securities," said Jonathan Dever, Chief Executive Officer of Commercium Financial Inc. "Commercium's mission is to create a fully digital and automated financial institution that offers a blend of traditional banking and new to the market digitization and asset tokenization products. Regulatory compliance is at the heart of what we do."
"The core of our ecosystem ensures compliance while allowing financial institutions to transact business in the new digital space," said Lou Terhar, Chairman of the Board of Directors. "Commercium's blockchain-based ecosystem attaches reporting mechanics to the asset, ensuring transparency for decision-making and regulatory compliance. That empowers us to tailor and design unique products to a range of customers in the B2B space."
Commercium Financial is built with regulatory compliance at the forefront and will comply with all applicable KYC, Bank Secrecy Act, anti-money laundering laws, and regulations. Together, this allows Commercium to be the first regulatory compliant institution in the United States focused on the tokenization of real-world assets and securities.
About Commercium Financial
Commercium Financial, Inc. (https://commerciumbank.com) brings new efficiencies and capital mobility to the global financial market, powered by blockchain technology. Commercium's digitization services, security tokens, and custody as a service will allow investors to diversify their portfolios increasing efficiencies and lowering costs associated with traditional financial products. Commercium is Chartered & Headquartered in Wyoming, and its customers will benefit from the regulatory framework for the custody and handling of digital assets and securities. Although chartered in Wyoming, Commercium will be able to operate in most U.S. states and territories under a unified regulatory framework through reciprocity agreements. This allows Commercium to offer custodial and digital services for a range of businesses and institutions that are only comfortable entrusting financial transactions to a US bank.
The information contained in this press release regarding Commercium's expectations, plans, and intentions, and any other information that may constitute "forward-looking" information, as defined by Section 27A of the Securities Act or Section 21E of the Exchange Act, were made by Commercium on a reasonable basis and reflected the Company's good faith belief and/or estimate of the matters described therein. These statements are subject to change without notice.
Media Contact
Grant Murray, Commercium Financial Inc, +1 (859) 409-6299, [email protected]
SOURCE Commercium Financial Inc
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