Whop has acquired @crackeddevs
We set out to build the world’s largest crypto products
And believe Whop will become the biggest of them all
What we’re releasing in the coming days will unlock stablecoins for businesses globally
Stay tuned
@raincards and @ModernTreasury both applied to the OCC for national trust bank charters this week.
How to start a chartered bank in the US:
> Pick the right charter you want (national, state, etc) and the permissible activities
> Recruit a qualified board with relevant banking experience
> Hire an experienced CEO + management team
> Pass background + financial checks
> Submit a 3+ year business plan to show a path to profitability
> Raise sufficient regulatory capital (~25 million)
> Build a capital + liquidity plan
> Build BSA/AML + OFAC programs
> Build the full compliance management system
> Build bank-grade cybersecurity + infosec
> Establish third-party/vendor risk management
> Set up internal controls + independent audit
> Address CRA requirements, if applicable
> Form the legal entity + governance structure
> Handle securities-law requirements for the raise
> Go through public notice and comment
> Receive OCC preliminary approval
> Raise approved capital, generally within 12 months
> Build the bank
> Pass the OCC pre-opening exam
> Obtain any required FDIC/Fed approvals
> Receive final OCC approval and open
> Operate under intense supervision for the first ~3 years
Winning a Noble Prize and celebrating it with your wife and kids who love you. Second to bringing everyone onchain with stablecoins and self-custody wallets, has to be one of the most peak human experiences possible
The most important briefings of the day.
Karl Deisseroth, professor of bioengineering and of psychiatry and behavioral sciences, shares the news of his Nobel Prize with his kids.
On a testé ce matin pour rigoler
Bien que ça reste limité comme White label c’est quand même une folie que ça veut démocratisé l’ouverture d’une neo bank il y aura moyen de prendre des segments de marché intéressant
4 prompt Claude btw
Ceux qui veulent voir
(Faire un deposit de 100k vite fait)
https://t.co/w2c2B4SomQ
i tried new Neobank-as-a-business thing by Whop. Some things I noticed:
1/ guys really polished the onboarding. KYC is faster than in all the other banks. I add USDC on Solana and sent a payout to Vietnam in 5 min. Funny part — it does not require KYB, only KYC.
2/ cards really work. Launched 100% my own custom card for free in 5 min.