Bermuda Offers Solution For Banking Services To Bermuda Licensed FinTech Companies

The Bermuda Government has announced that, as a result of confidence in Bermuda's high regulatory standards, Bermuda can now offer an option for US banking services to be made available to Bermuda licensed FinTech companies.

According to a press release issued from the Bermuda Government, Signature Bank, a New York-based full-service commercial bank, has agreed to provide a full range of banking services to companies that meet Bermuda and Signature Bank standards. The press release states that Signature Bank is a dynamic financial institution that was an early entrant into digital asset space and was the first bank to launch a New York regulator-approved blockchain-based platform for managing money transfers between clients.