FV Bank

FV Bank

FV Bank was established as a Puerto Rico-chartered financial institution, regulated by the island's Office of the Commissioner of Financial Institutions (OCIF). It positions itself at the intersection of traditional banking and digital assets, offering a platform that integrates fiat and cryptocurrency services for small and medium enterprises, fintechs, and blockchain businesses. Its core offering combines USD-denominated business banking and payments with regulated digital asset custody. The bank is a Principal Member of Visa, enabling it to issue credit and debit cards directly and run an intrabank transfer network that settles transactions 24/7. On the digital side, FV Bank acts as a qualified custodian, providing secure storage and seamless settlement between crypto and fiat. Confirmed integrations include stablecoin rails with Circle's USDC and PayPal's PYUSD, alongside a partnership with Fireblocks for custody infrastructure. The bank also launched a USDT-to-USD conversion service and cross-border FX payments, targeting international businesses. Its geographic focus is both domestic US and international clients, routed through its Puerto Rican base. Operationally, FV Bank has been building out its executive team and product stack. The firm appointed a Chief Risk Officer and a Chief Financial Officer, as noted on its website. In October 2024, it launched SWIFT services to enhance global payment capabilities, a move that expands its correspondent banking reach. The bank also added virtual accounts for payment automation and launched an API for bank automation. These rollouts signal a push toward serving fintech platforms that require programmable, embedded banking infrastructure rather than just a deposit-and-lend model. Structurally, FV Bank is distinct among US digital-asset institutions because it holds both a banking license and a trust license from a single US jurisdiction. This dual charter lets it offer custody, deposit-taking, and card issuing under one roof without relying on third-party banking-as-a-service middleware — an architecture that isolates it from the middleware risks that have tripped up other fintechs during bank-partner crackdowns.