- Fantom has launched a closed beta model of a brand new crypto fee framework.
- The infrastructure is designed to deliver extra flexibility to the crypto funds trade.
- The mission won’t be obtainable to US residents as a consequence of regulatory constraints.
In a dialog on Twitter, Fantom blockchain co-founder Andre Cronje revealed that he’s at the moment engaged on a brand new crypto fee infrastructure mission. Cronje additionally shared {that a} closed beta model of the product has launched.
Notably, the Fantom founder revealed the replace after crypto fanatic Michael Egorov complained on Twitter that his financial institution accounts with Revolut, a British financial institution, had been closed for involvement in cryptocurrencies.
“They closed my private and enterprise accounts as soon as they acquired data from me displaying the supply of the funds is crypto,” Egorov tweeted, “they don’t seem to be the longer term,” he stated. concluded.
Moreover, Cronje stated the crypto infrastructure being developed wouldn’t be obtainable to US residents as a consequence of regulatory constraints within the nation. Requested in regards to the mission’s license and the potential for not having know-your-customer (KYC) procedures, Cronje replied that it will be a regular banking license. “We can’t keep away from KYC,” he added.
This new improvement is anticipated to deliver extra flexibility to the crypto funds trade, making it simpler to transact with digital property with out worrying in regards to the tedious processes concerned in conventional monetary techniques.
Though the Fantom founder did not present many particulars on the mission’s deliberate launch date, his tweet sparked curiosity from the crypto group as many crypto lovers sought to be added to the closed beta. .
Fantom is a high-speed transaction-focused blockchain platform designed to allow decentralized functions (dApps) and digital property to function effectively and securely. Its utility token, FTM, ranks among the many prime cryptos with over $1.2 billion in market share.
