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Bailey McCann, Opalesque New York: Crypto Fiat Holdings has launched today with the goal of providing comprehensive financial services to cryptocurrency investors and firms. The organization will will consist of at least six banks and multiple B/Ds, RIAs, and FCMs which will strictly operate in the regulated environment, providing services in several popular investment jurisdictions.
According to Crypto Fiat Holdings CEO Joe Taussig, the company will address key pain points felt by the crypto ecosystem by providing up to $10 billion to fund margin lending, custody, agency brokerage, and fiat to crypto on-ramping and crypto to fiat off-ramping. The company will also leverage existing relationships with regulators and traditional financial institutions to ensure consistent service and remove some of the friction cryptocurrency investors and funds encounter as they transact.
CFH will be paid on performance post-transaction in addition to profiting from Reg T margin lending support by cryptocurrency collateral and term deposits.
Initially, lending rates will be 15-20%, but the company expects those fees to come down over time as the market matures.
The company will be holding two funding rounds. The first will welcome investors for as little as $100,000 up to $5 million. For the second round, the minimum investment will be $5 million. Both rounds will be limited to professional cryptocurrency investors and banks.
CFH expects to be fully operational by t...................... To view our full article Click here
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