Introducing San Juan Mercantile Bank & Trust International: Puerto Rican bank catered towards crypto investors
|- San Juan Mercantile Bank & Trust International was licensed last month as an international financial entity.
- SJIMBT is under Mercantile Global Holdings who also owns San Juan Mercantile Exchange.
San Juan Mercantile Bank & Trust International (SJMBT), a Puerto Rico-based bank aimed towards crypto traders has launched this Monday. It was licensed last month as an international financial entity by Puerto Rico’s Office of the Commission of Financial Institutions. SJIMBT is under Mercantile Global Holdings who also owns the soon-to-be-launched digital asset platform, San Juan Mercantile Exchange.
Nick Varelakis, President and COO of SJMBT, said:
"Commencing SJMBT banking operations is a significant milestone. Institutional market participants in the digital asset space now have access to a licensed, fully regulated and operational banking partner that provides a secure environment for the matching and settlement of digital asset trades. As more liquidity venues onboard with SJMX to trade digital assets, SJMBT will provide critical services, such as real-time settlement and account re-balancing, in support of our customers' trading activities."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.