FV Bank Announces Rollout of Custody Money Market Accounts
LAS VEGAS–(BUSINESS WIRE)–#Money2020—MONEY 20/20: FV Bank (www.fvbank.us), a leading U.S. licensed global digital bank, today announced the launch of a Custody Money Market Account for qualified clients. The Custody Money Market Account, now active and operational, provides a unique opportunity for qualified account holders to earn income on their account balance and enjoy easy transfers between their bank accounts and their custody money market account.
This new offering highlights FV Bank’s commitment to delivering innovative financial solutions to its clients. The Custody Money Market Account, gives select clients, including individuals, access to money market funds invested in US Treasuries, enabling them to invest their idle funds or stablecoins in a highly liquid and secure manner, all through FV Bank’s secure dashboard*. The Custody Money Market Accounts are held in FV Bank’s Trust division as custodial accounts and are self-directed by the account holders.
“We’re excited to introduce the Custody Money Market Account as part of our comprehensive suite of financial services,” said Miles Paschini, CEO of FV Bank. “This offering not only allows our clients to earn income on their funds but also provides them with the flexibility to easily convert custodial funds back to their deposit account so they can easily manage payments. FV Bank continues to prioritize the needs of its clients by offering sophisticated financial solutions with a focus on security, accessibility and reliability.”
The Custody Money Market Account is not limited to accredited investors, making it accessible to a broader range of FV Banks’s clients, including large organizations, Payment Service Providers (PSPs), and other accounts with treasury management needs can benefit from this unique service offering.
For SMEs, the Custody Money Market Account offers a unique solution not normally available to smaller enterprises. With easy access via the FV Bank portal and no minimum holding period, the Custody Money Market Account offers an opportunity for small to medium businesses to optimize their deposits with FV Bank.
Clients holding or receiving stablecoins will also have a streamlined pathway to earning income through the Custody Money Market Accounts. Through FV Bank’s USDC conversion service, account holders can easily convert USDC to USD and transfer available funds into their Custody Money Market Account.
“We believe that our Custody Money Market Accounts are an important addition to our product suite,” added Paschini. “It seamlessly integrates with our existing line of products, providing our clients with a comprehensive banking experience that prioritises both ease-of-use and accessibility.”
While access to the Custody Money Market is currently limited to qualified account holders, the service will be opened to a broader client base in the future. The ease of access and benefits of current market rates make the Custody Money Market Account a compelling option for those looking to optimize their financial portfolios.
For more information about the Custody Money Market Account and FV Bank’s integrated banking services, please visit www.fvbank.us or visit FV Bank at Money 20/20 at Booth #14618.
About FV Bank:
FV Bank is a global digital bank and digital asset custodian regulated by the Office of the Commissioner of Financial Institutions (OCIF), Puerto Rico, USA. With a seamless integration of banking and payments, including digital asset and fiat custody services, FV Bank caters to the unique requirements of corporates, institutions, family offices, and their respective clients through online banking and integrated API solutions.
*Disclaimer: The underlying money market accounts are provided by third party issuers and are not provided by FV Bank. FV Bank provides custody services of the underlying money market accounts. FV Bank is not an investment advisor and all decisions to invest in money market accounts is self-directed by FV Bank custody customers. For terms and conditions of custody services please see www.fvbank.us/custody-agreement
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Contacts
David Lewis
The Top Floor Public Relations
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