On The Brink with Castle Island cover image

Chris Rothfuss on Wyoming’s Blockchain Strategy & the WY Stable Token (EP.432)

On The Brink with Castle Island

CHAPTER

The Challenges of Starting a Digital Asset Company

In 2018, we had put together our task force on blockchain and all things digital asset. The FDIC was restricting you from being banked from the federal level even to state charter banks. You effectively couldn't be a successful business because you need to pay your payroll whether you need to operate and interact with the banking system. And so we established a new type of bank charter that was a state chartered bank called the special purpose depository institution.

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