New bank for crypto traders opened in Puerto Rico
The financial institution will offer services such as real-time settlement and rebalancing of accounts for the benefit of clients' activities
The innovative institution located in Puerto Rico is called SanJuan Mercantile Bank & Trust International (SJMBT) and opened its doors to the cryptographic market serving the cryptocurrency traders.
The entity is a unit of Mercantile Global Holdings (MGH) that owns San Juan Mercantile Exchange (SJMX), an e-commerce platform with digital currencies that will be launched soon.
The bank that has already received its first client deposit will also provide custody and settlement services for both fiat money and crypto assets traded on the exchange.
For its part, the company said that customers’ cryptocurrencies will remain in “custodians of approved digital assets.” The entity considers that maintaining custody and trade under the same roof will bring great advantages.
L.Sáenz
Source: Diario Bitcoin
