SAN
FRANCISCO, Jan. 19, 2022 /PRNewswire/ -- Two USDF
Consortium™ members completed a first of its kind
transaction over the Provenance Blockchain. NBH Bank, a subsidiary
of National Bank Holdings Corporation (NYSE: NBHC) minted USDF and
sent it to a customer of New York Community Bank, the banking
subsidiary of New York Community Bancorp, Inc. (NYSE:NYCB),
as a test to demonstrate bank-to-bank interoperability on a public
blockchain. NBH Bank's minted USDF represented the capital
contribution for its founding membership in the USDF Consortium, an
association of FDIC-insured financial institutions with a mission
to build a network of banks to further the adoption and
interoperability of a bank-minted stablecoin (USDF™). USDF is
minted exclusively by banks.
"We believe that this transaction not only demonstrates the bank
interoperability of USDF, but also demonstrates the ability for
banks to offer their clients new and safe payment applications with
real time settlement at a low cost," said Valerie Kramer, Chief Digital Officer at NBH
Bank. "USDF facilitates the compliant transfer of US Dollar value
on the blockchain, removing friction in the financial system and
expanding digital access to financial opportunities."
As previously announced, New York Community Bank and NBH Bank,
along with First Bank, Sterling National
Bank, Synovus Bank, Figure Technologies, Inc., and JAM
FINTOP are the founding members of the newly launched USDF
Consortium.
"This first-of-its-kind transaction is only the beginning as the
Consortium will continue doing the foundational work to allow banks
to leverage the breakthrough technology of blockchain for
responsible innovation and growth," said Ashley
Harris, Chair of the USDF Consortium. "We expect our
membership to increase rapidly through 2022 as member banks
demonstrate that USDF is a valuable, compliant component
of their digital asset strategy."
The USDF Consortium is accepting new members as it looks to
grow. Interested banks can visit www.usdfconsortium.com to
learn more about the Consortium, USDF, membership requirements, and
how to apply to become a member.
ABOUT USDF CONSORTIUM
The USDF
Consortium™ is a membership-based association and is
not an FDIC-insured bank. We are working to coordinate
the efforts of banks in minting USDF in a regulatory compliant
manner; build out the bank network; and ensure interoperability of
USDF to realize the full potential of blockchain technology to
better serve consumers. The USDF Consortium is making the market
safer, cheaper, and more reliable for consumers who want to
transact on blockchain by ensuring banks continue to play an
important role in the financial ecosystem as blockchain adoption
proliferates. We are committed to building the foundation and
advancing responsible innovation that will allow banks to harness
this technology. To learn more, and for a full list of the founding
member companies, please visit the Consortium's website
at www.usdfconsortium.com.
ABOUT NBH BANK
NBH Bank, a wholly-owned subsidiary
of National Bank Holdings Corporation, operates a network of 81
banking centers, serving individual consumers, small, medium and
large businesses, and government and non-profit entities. The
bank's core geographic footprint consists of Colorado, the greater Kansas City region, Texas, Utah
and New Mexico. NBH Bank operates
under the following brand names: Community Banks of Colorado and Community Banks Mortgage, a
division of NBH Bank, in Colorado,
Bank Midwest and Bank Midwest Mortgage in Kansas and Missouri, and Hillcrest Bank and Hillcrest Bank Mortgage in
Texas, Utah and New
Mexico. National Bank Holdings Corporation is a bank holding
company created to build a leading community bank franchise
delivering high-quality client service and committed to shareholder
results. For more information visit: cobnks.com, bankmw.com,
hillcrestbank.com or nbhbank.com. More information about National
Bank Holdings Corporation can be found at
www.nationalbankholdings.com.
ABOUT NEW YORK COMMUNITY
BANCORP, INC.
Based in Hicksville, NY, New York Community Bancorp,
Inc. is a leading producer of multi-family loans on non-luxury,
rent-regulated apartment buildings in New
York City, and the parent of New York Community Bank. At
September 30, 2021, the Company
reported assets of $57.9 billion,
loans of $43.7 billion, deposits of
$34.6 billion, and stockholders'
equity of $7.0 billion. Reflecting
our growth through a series of acquisitions, the Company operates
236 branches through eight local divisions, each with a history of
service and strength: Queens County Savings Bank, Roslyn Savings
Bank, Richmond County Savings Bank, Roosevelt Savings Bank, and
Atlantic Bank in New York; Garden
State Community Bank in New
Jersey; Ohio Savings Bank in Ohio; and AmTrust Bank in Florida and Arizona.
On April 26, 2021, the Company
announced that it entered into a definitive merger agreement to
acquire Flagstar Bancorp, Inc. The transaction was approved by both
sets of shareholders on August 4,
2021 and is expected to close during the fourth quarter,
subject to the satisfaction of certain closing conditions and the
receipt of all necessary regulatory approvals. Upon closing, the
combined company will have $85
billion in total assets, operate nearly 400 traditional
branches across nine states, and 86 retail lending offices across a
28 state footprint. It will also have significant scale in several
lines of business, including residential lending, mortgage
servicing, mortgage warehouse, and multi-family lending.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING
INFORMATION:
Certain statements in this press release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, with respect to
any of the following concerning the USDF Consortium, Figure, JAM
FINTOP, and/or any of the referenced Banks or respective bank
holding companies (each a "Referenced Entity"): the
Referenced Entity's beliefs, goals, intentions, and expectations,
including those regarding revenues, earnings, strategic
relationships, acquisitions, USDF minting, and membership; the
Referenced Entity's estimates of future costs and benefits of the
actions the Referenced Entity may take; and the Referenced
Entity's ability to achieve its financial and other strategic
goals, or expected synergies and operating efficiencies in, or as a
result of, the subject of the forward-looking statement within
expected timeframes or at all. These forward-looking statements
also include, without limitation, those relating to the terms,
timing and closing of any pending or proposed material transaction
or initiative undertaken by the Referenced Entity (each a
"transaction").
Forward-looking statements are typically identified by such
words as "believe," "expect," "anticipate," "intend," "outlook,"
"estimate," "forecast," "project," "should," and other similar
words and expressions, and are subject to numerous assumptions,
risks, and uncertainties, which change over time.
Additionally, forward-looking statements speak only as of the
date they are made and none of the Referenced Entities assumes any
duty, and does not undertake, to update such forward-looking
statements. Furthermore, because forward-looking statements are
subject to assumptions and uncertainties, actual results or future
events could differ, possibly materially, from those indicated in
such forward-looking statements as a result of a variety of
factors, many of which are beyond the control of the Referenced
Entity. Factors that could cause actual results to differ
materially include the following: the occurrence of any event,
change or other circumstances that could give rise to the right of
any party to terminate a transaction; the outcome of
any legal proceedings that may be instituted against a Referenced
Entity, including those with respect to a transaction; the
possibility that the subject of the forward-looking statement, will
not occur when expected or at all because required regulatory or
other approvals are not received or other conditions to the
occurrence are not satisfied on a timely basis or at all, or are
obtained subject to conditions that are not anticipated; the
possibility that the anticipated benefits of the subject of the
forward-looking statement will not be realized when expected or at
all; and the other factors discussed in the "Risk Factors"
section of a Referenced Entity's latest Annual Report on
Form 10-K and in the "Risk Factors" section in a
Referenced Entity's subsequent Quarterly Reports on
Form 10-Q , and in other reports the Referenced Entity
files with the U.S. Securities and Exchange Commission (the "SEC"),
which are available at http://www.sec.gov and in the applicable SEC
filings section of the Referenced Entity's website.
Media Contact:
Bill
McQuillen
bill@usdfconsortium.com
202.320.2590
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SOURCE USDF Consortium