Crypto Friendly Digital Bank Arival Accepting Investment Reservations on SeedInvest for Upcoming Crowdfunding Round

Arival will be a crypto-friendly bank – unlike most traditional banks in the United States which tend to be crypto-averse. The bank was founded on the notion that banks in many places around the world are closing accounts of crypto-related businesses as they are fearful of any collateral ramifications to holding these types of accounts. Arival says they surveyed “hundreds” of Fintech and blockchain startups in their network and 90% indicated they have encountered problems in some capacity. But it is not only the crypto-sector that Arival wants to service. The digital-only bank wants to provide banking services to all SMEs and GIG economy companies seeking an alternative to the high cost, low service, experience of traditional brick and mortar banks. Based in Puerto Rico, Arival has applied for banking license under the International Financial Services Act (IFE Act) and expects approval soon. The IFE license will provide Arival with access to the US Federal Reserve system while still being an offshore bank which makes the license unique. Even better, an IFE license means the bank is subjected to just a 4% tax rate. The relatively new law has become fairly popular due to the advantageous structure and access to the US market.