“The USDF Consortium™ (the Consortium), an association of FDIC-insured financial institutions, launched today with a mission to build a network of banks to further the adoption and interoperability of a bank-minted stablecoin (USDF™), which will facilitate the compliant transfer of value on the blockchain, removing friction in the financial system and unlocking the financial opportunities that blockchain and digital transactions can provide to a greater network of users. The Consortium’s founding bank members include New York Community Bank (NYCB), NBH Bank, FirstBank, Sterling National Bank, and Synovus Bank. Figure Technologies, Inc. and JAM FINTOP are also founding members and will facilitate and promote the adoption of USDF. The Consortium looks to significantly grow its membership of FDIC-insured banks through 2022 and beyond.”