New fintech bank proposed for Greenwich

Connecticut Banking Commissioner Jorge Perez recently presided over a public hearing for the formation of a proposed de novo bank in Greenwich, to be called Currency Reserve.

Currency Reserve styles itself as a fintech bank, but it will primarily serve customers by providing them with direct access to physical deliveries of physical cash.

“Currency Reserve aspires to be an appropriately capitalized state bank with principal offices in Greenwich, Connecticut,” said CEO Vivek Tyagi at the hearing in Hartford. “As described in the application document submitted to the department and reviewed by FS Vector in the feasibility study, we plan to safely and responsibly engage in bank note distribution of U.S. dollars.”

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