Amerant Bank, the second largest community bank headquartered in Florida, announced that it is now a member of the USDF Consortium. It is the seventh bank in the nation to join the association, which provides a base source for banks’ digital asset & blockchain strategies.
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The USDF Consortium is a membership-based organization of FDIC-insured banks. Its mission is to build a network of banks to further the adoption and interoperability of a bank-minted tokenized deposit (USDF™), aimed at facilitating the compliant transfer of value on the blockchain, removing friction in the financial system and unlocking the financial opportunities that blockchain and digital transactions can provide to a greater network of users.
“We are continuously looking to innovate to ensure that we can provide the best service to our clients in the most convenient and modern way,” said Vice Chairman, President & CEO of Amerant Bank Jerry Plush. “We are pleased to be part of this consortium and to have a voice in the rapidly emerging world of blockchain and digital transactions.”
The USDF Consortium aims to make the market safer, more affordable and more reliable for consumers who want to transact on blockchain by ensuring banks continue to play an important role in the financial ecosystem as blockchain adoption accelerates. The USDF Consortium will establish standards and solutions for member banks that offer their clients: mobile banking, multi-party settlements, digital assets, receivables, digital securities lending, crypto lending, capital call lines of credit, and loan servicing.
There are seven other founding bank members of the Consortium, along with Figure Technologies, Inc. and JAM FINTOP. The Consortium looks to significantly grow its membership of FDIC-insured banks throughout 2022 and beyond.
About Amerant Bancorp Inc.
Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida since 1979. The Company operates through its main subsidiary, Amerant Bank, N.A. (the “Bank”), as well as its other subsidiaries: Amerant Investments, Inc., Elant Bank and Trust Ltd., and Amerant Mortgage, LLC.