AMERANT BANK JOINS THE USDF CONSORTIUM
Amerant Bank, the second largest community bank in Florida, has joined the USDF Consortium, becoming the seventh bank nationally to do so. This consortium aims to enhance the adoption and interoperability of the USDF™ bank-minted tokenized deposit, facilitating value transfers on blockchain. Amerant Bank's involvement reflects its commitment to innovation in digital transactions, with a focus on safer and more reliable financial services for consumers. The consortium plans to establish standards for member banks, expanding services like mobile banking and crypto lending.
- Joining the USDF Consortium, enhancing digital asset and blockchain strategy.
- Opportunity to innovate in financial services and improve customer experience.
- None.
CORAL GABLES, Fla., March 10, 2022 /PRNewswire/ -- 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.
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.
For more information about Amerant Bank, visit amerantbank.com and Facebook, Twitter, Instagram and LinkedIn at @AmerantBank.
About Amerant Bancorp Inc. (NASDAQ: AMTB)
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. The Company provides individuals and businesses in the U.S., as well as select international clients, with deposit, credit and wealth management services. The Bank, which has operated for over 40 years, is the second largest community bank headquartered in Florida. The Bank operates 24 banking centers – 17 in South Florida and 7 in Houston, Texas. For more information, visit investor.amerantbank.com.
Media Contacts:
Victoria Verdeja
Amerant Bank
MediaRelations@amerantbank.com
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SOURCE Amerant Bank
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