FV Bank has announced the launch of a custody money market account for qualified clients. It provides an opportunity for qualified account holders to earn income on their account balance and enjoy easy transfers between their bank accounts and their custody money market account. The account gives select clients, including individuals, access to money market funds invested in US Treasuries.
This enables them to invest their idle funds or stablecoins in a highly liquid and secure manner, all through FV Bank’s secure dashboard. The custody money market accounts are held in FV Bank’s Trust division as custodial accounts and are self-directed by the account holders.
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Miles Paschini, CEO of FV Bank, said: “We’re excited to introduce the custody money market account as part of our comprehensive suite of financial services. This offering not only allows our clients to earn income on their funds but also provides them with the flexibility to easily convert custodial funds back to their deposit account so they can easily manage payments. FV Bank continues to prioritise the needs of its clients by offering sophisticated financial solutions with a focus on security, accessibility and reliability.”
FV Bank’s custody money market account offers unique solutions
The custody money market account is not limited to accredited investors, making it accessible to a broader range of clients, including large organisations, payment service providers and other accounts with treasury management needs can benefit from this unique service offering.
For SMEs, the custody money market account offers a unique solution not normally available to smaller enterprises. With easy access via the FV Bank portal and no minimum holding period, the custody money market account offers an opportunity for small to medium businesses to optimise their deposits with FV Bank.
Clients holding or receiving stablecoins will also have a streamlined pathway to earning income through the custody money market accounts. Through FV Bank’s USDC conversion service, account holders can easily convert USDC to USD and transfer available funds into their custody money market account.
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By GlobalDataWhile access to the custody Money Market is currently limited to qualified account holders, the service will be opened to a broader client base in the future. The ease of access and benefits of current market rates make the custody money market account a compelling option for those looking to optimise their financial portfolios.
