Avanti Announces ‘Cash-Equivalent Stablecoin Disruptor’

[Riya143]

Avanti’s crypto-friendly bank is now planning to launch in October after its banking charter application was accepted by Wyoming’s banking regulator.
Avanti Bank & Trust, Wyoming-based pioneering financial institution planning to offer services to the crypto industry, has announced plans for a ‘stablecoin disruptor’ that’s designed to modernize U.S. dollar payments.

In a July 23 announcement, Avanti said that the payment instrument, dubbed ‘Avit,’ is not a security and predicted it “will likely be treated as a cash equivalent” by regulators. Avit will be programmable via Avanti’s API.
Read More: https://cointelegraph.com/news/avanti-announces-cash-equivalent-stablecoin-disruptor

[jonathancool220]

AVIT is like a program created for audits.
If the USD supply is not equivalent to USDT, there will be an error in the capital backup.
AVIT here has a function for auditing and here also AVIT will provide transparent value for every stable coin creation.

But if AVIT is not able to realize that then I think AVIT will be difficult in the realm of crytpocurrency.