Jewel Bank approved by Bermuda Monetary Authority [BMA] A combination of a full bank license and a digital asset business [DABA] license.
The company states: “Jewel Bank is the first new bank in Bermuda in over 20 years and the first digital asset bank. Jewel’s services are many accounts of the world’s largest global digital asset companies and exchanges via API or the Web. Addressing system, payment, and payment needs. As a fully licensed Bermudian Bank, Jewel Bank will serve digital asset companies. [B2B] Not only in the United States, but around the world in unlicensed jurisdictions.
“Jewel Bank’s main focus is on addressing the needs of non-US resident or licensed businesses, with critical digital asset banking, payments, flat-on / off-ramp, storage, crypto-secured lending, stable coin issuance, and Is to provide large-scale digital real-time payment services Asset companies like exchanges need to mitigate business risks and drive growth. Banks also offer domestic retail banking services in Bermuda. And we plan to help accelerate the digital transformation of Bermuda.
“Jewel Bank’s banking infrastructure fills a significant gap in the fast-growing global digital asset market by providing globally accessible digital asset banking from Bermuda’s strategic global financial jurisdiction. At a critical time in the stable coin market, where certainty and true stability are needed with respect to coins, Jewel Bank issued banks to statutory deposits and full banks.
“Jewel’s leadership is that Bermuda’s existing DABA1 digital asset framework is under a single regulatory body (unlike the United States), and Bermuda’s monetary authorities are sophisticated and world-leading in Bermuda. We have selected Bermuda as the optimal non-US jurisdiction for Global Digital Asset Banks because it is located in Compliance and Money Laundering Prevention (AML) and Anti-Terrorism Financing (CTF) Measures 2.
“Similarly, Bermuda’s previous commitment to accepting a single US dollar flatback stable coin for tax and government service payments, Bermuda’s history as a major global financial services center for reinsurance and insurance, and Bermuda. Support and innovation from top-level leadership, including its driving force, Prime Minister David Bart, were all key factors in deciding to reside in the country. “
“Financial institutions’ banking infrastructure is an important missing link for high-growth digital asset exchanges and financial institutions outside the United States, meeting the demand for this fast-growing global space and the payment of statutory banknotes and stable coins. Brought the coveted liquidity, credibility and scale, “said Prime Minister Burnett, founder, chairman and chief strategic officer of Jewel Bank.
“Jewel Bank acts as a bridge between the traditional Fiat banking system and the new Digital Asset Rail, meeting the large payment and settlement needs of large global clients, including crypto exchange, with traditional payment solutions and stablecoin. It is supported by both based payment solutions. “
Prime Minister David Bert said: “BMA granting Jewel Bank a full banking license is a great achievement for both Jewel Bank and Bermuda. It is a great honor for Jewel Bank to choose Bermuda as its home base, and Bermuda is digital. We are pleased to finally say that we have a complete banking solution for the asset industry.
“Jewelbank’s vision for Stablecoin is in good agreement with our desire to support and accept fully supported private sector stablecoin issuers. In close collaboration with Jewelbank, We look forward to helping Bermuda’s regulated industries achieve the banking support they really need. “
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