What is a Special Purpose Depository Institution (SPDI "Speedy") and why are Positrust's infrastructure build out services critical?
SPDI is a new form of bank.
The US State of Wyoming has enacted the most forward thinking Crypto-Friendly legislation.
Many experts and technology entrepreneurs consider Wyoming's Title 13, SPDI charter a significant improvement on New York's BitLicense regulation.
Wyoming Division of Banking is even developing partnerships and arrangements with other state regulators to create joint legal procedures around digital assets, according to Banking Division sources.
To successfully complete the regulatory process of standing up a SPDI, the capital, staffing and technology criteria must meet strict banking commissioner requirements.
The greatest risk associated with standing up a SPDI is the exposure represented by a highly disruptive technology failure event.
Positrust's SPDI Infrastructure Build Out Service helps mitigate the regulatory infrastructure risk by providing clients with expert platform services.
Other progressive jurisdictions have bolstered their Central Bank led digital strategies by seamlessly integrating similar special purpose depository legislation. Positrust is at the fore front of a DLT deployment to deliver and support an innovative transactional platform for a SPDI in the ECCB region.