Nano Wallet Partners with Column N.A. for Enhanced Banking Services
The partnership extends FDIC insurance coverage and enables faster ACH processing for all Nano Wallet accounts.
Nano Wallet today announced the launch of FDIC-insured USD accounts, providing users with up to $250,000 in federal deposit insurance protection on their USD balances held within the platform. ## Partnership with Banking Partners The FDIC insurance is provided through Nano Wallet's partnership with Thread Bank, a federally chartered bank. USD deposits are held in segregated accounts at Thread Bank and are fully insured by the Federal Deposit Insurance Corporation. "This is a milestone moment for the stablecoin industry," said David Park, CEO of Nano Wallet. "For the first time, users can hold both USDC and FDIC-insured USD in a single platform, with instant conversion between the two." ## How It Works When users deposit or convert funds to USD within Nano Wallet, those funds are automatically swept into FDIC-insured accounts at Thread Bank. Users maintain full access to their funds at all times, with the same instant withdrawal and transfer capabilities they've come to expect. ## Security and Compliance Nano Wallet's FDIC-insured accounts are subject to the same rigorous KYC/AML compliance standards as all other platform features. The company maintains SOC 2 Type II certification and undergoes regular third-party security audits. The feature is available to all verified US-based Nano Wallet users effective immediately.
This press release contains forward-looking statements. Actual results may differ materially from those expressed or implied.