During his speech at the Bitcoin 2023 conference, Miles Paschini, CEO of FV Bank, shared exciting news about their latest innovation. FV Bank is proud to unveil their new Visa card, specially designed to simplify and expedite payment processes for their loyal customers.
Miles emphasized the importance of evolving with the changing market dynamics, acknowledging that while FV Bank, in collaboration with Xapo, introduced the pioneering crypto debit cards back in 2014, it is imperative to adapt to current challenges with fresh solutions.
Additionally, Miles revealed another exciting development – the introduction of Visa corporate cards. These corporate cards will play a crucial role in helping large enterprises effectively manage their expenses, all while being able to fund these transactions with the convenience of Bitcoin.
FV Net payment system and interest-bearing custodial accounts
Miles highlighted the FV Net platform as a revolutionary product, specifically targeting institutional clients seeking real-time settlement solutions. By leveraging blockchain technology, FV Net aims to push the boundaries of what clients can accomplish with their existing infrastructures. Miles emphasized that the platform’s real-time payment feature is highly coveted within the digital asset industry.
In response to recent banking failures that have left customers more cautious about asset management, FV Bank has introduced interest-bearing custodial accounts. This proactive measure ensures clients can carefully safeguard their assets in a volatile financial landscape.
“We’re launching custodial products where our Enterprise clients can essentially invest in money market accounts in a custodial capacity,” Miles said. He added that the bank sees the opportunity of utilizing the over $140 billion of stablecoins in the market that currently earn no interest.
“We believe that the solution that we’re launching today will really change the market because we’re a regulated bank, we’re a qualified custodian, and we’re a principal card issuer with Visa.”
Failed products and changes in the market
The CEO acknowledged that previous failed attempts and market barriers, such as on-ramps, off-ramps, custody solutions, and access to spending digital assets, have impacted customers. FV Bank aims to address these challenges and bridge the gap.
Additionally, the CEO emphasized that when it comes to providing solutions for the digital market, particularly custody-based services, the bank recognizes that there is no universal solution. It is important to develop diverse solutions to cater to different types of users.
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