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Cryptocurrency-related firms scramble for legitimacy and infrastructure parity with traditional banks as the US progressively leans pro-crypto.

Custodia and Kraken Lead as Crypto Firms Race for Fed Master Accounts

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&lt;!-- SC_OFF --&gt;&lt;div class=&quot;md&quot;&gt;&lt;p&gt;We just built something really special.&lt;/p&gt; &lt;p&gt;&lt;strong&gt;Intro&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;OBFC provides a standard protocol to perform a SWIFT/Fed based wire transfer using stablecoins on Ethereum, by simply interacting with a smart-contract, rather than a traditional custodian or escrow service.&lt;/p&gt; &lt;p&gt;No more passwords, phone verifications or emails, OBFC requires only one authorized on-chain transaction to initiate real-time wire transfers to bank accounts almost anywhere in the world.&lt;/p&gt; &lt;p&gt;The protocol allows individuals to send digital dollars directly from individually owned and controlled Ethereum accounts to bank accounts seamlessly. OBFC takes bank details, such as ABA routing numbers, IBANs, and other bank codes in the form of a standardized unique OBFC code, which is used as input for a blockchain transaction to facilitate a token transfer, which corresponds to an outgoing electronic bank transfer.&lt;/p&gt; &lt;p&gt;&lt;strong&gt;Things You Can Do With OBFC:&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;· Send a wire transfer to a friend via your Ledger.&lt;/p&gt; &lt;p&gt;· Offramp USDC to $$$ directly from MetaMask.&lt;/p&gt; &lt;p&gt;· Pay your rent on Ethereum by using OBFC to wire money to your landlord!&lt;/p&gt; &lt;p&gt;&lt;strong&gt;Give us feedback!!&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;Check out the app, at &lt;a href=&quot;https://obfc.finance/&quot;&gt;obfc.finance&lt;/a&gt;&lt;/p&gt; &lt;p&gt;We are at a really early stage in developing this system, so if you are interested in helping us or giving us initial feedback please do reach out.&lt;/p&gt; &lt;p&gt;We think this is a pretty interesting example of how you can use Ethereum to interact with traditional banking infrastructure.&lt;/p&gt; &lt;p&gt;Please be advised, this is highly experimental right now and you should reach out to us if you are interested in trying it out. (read the &lt;a href=&quot;https://forum.obfc.finance/c/transparency/5&quot;&gt;transparency&lt;/a&gt; tab for more information).&lt;/p&gt; &lt;p&gt;Thank you,&lt;/p&gt; &lt;p&gt;Team OBFC&lt;/p&gt; &lt;/div&gt;&lt;!-- SC_ON --&gt; &amp;#32; submitted by &amp;#32; &lt;a href=&quot;https://www.reddit.com/user/clausen_eth&quot;&gt; /u/clausen_eth &lt;/a&gt; &lt;br/&gt; &lt;span&gt;&lt;a href=&quot;https://www.reddit.com/r/ethereum/comments/ttfob6/introducing_obfc_wire_money_over_ethereum/&quot;&gt;[link]&lt;/a&gt;&lt;/span&gt; &amp;#32; &lt;span&gt;&lt;a href=&quot;https://www.reddit.com/r/ethereum/comments/ttfob6/introducing_obfc_wire_money_over_ethereum/&quot;&gt;[comments]&lt;/a&gt;&lt;/span&gt;

Introducing OBFC – Wire Money Over Ethereum

&lt;!-- SC_OFF --&gt;&lt;div class=&quot;md&quot;&gt;&lt;p&gt;&lt;strong&gt;Intro&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;OBFC provides a standard protocol to perform a SWIFT/Fed based wire transfer using stablecoins on Ethereum, by simply interacting with a smart-contract, rather than a traditional custodian or escrow service.&lt;/p&gt; &lt;p&gt;No more passwords, phone verifications or emails, OBFC requires only one authorized on-chain transaction to initiate real-time wire transfers to bank accounts almost anywhere in the world.&lt;/p&gt; &lt;p&gt;The protocol allows individuals to send digital dollars directly from individually owned and controlled Ethereum accounts to bank accounts seamlessly. OBFC takes bank details, such as ABA routing numbers, IBANs, and other bank codes in the form of a standardized unique OBFC code, which is used as input for a blockchain transaction to facilitate a token transfer, which corresponds to an outgoing electronic bank transfer.&lt;/p&gt; &lt;p&gt;The protocol enables programmable electronic bank transfers on Ethereum. Performing an international wire transfer is as easy as transacting with the OBFC smart-contracts. Simply embed the OBFC wire transfer service right into your smart-contract and decentralized finance application and start moving fiat currency without touching a bank. The protocol makes doing “real world” currency transfers possible without leaving the digital world of Ethereum and other blockchains. The total process of initiating an electronic funds transfer and receiving receipt takes place entirely on-chain in one single transaction.&lt;/p&gt; &lt;p&gt;&lt;strong&gt;Give us feedback!!&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;Check out the app, at&lt;/p&gt; &lt;p&gt;&lt;a href=&quot;https://obfc.finance/transmit&quot;&gt;https://obfc.finance/transmit&lt;/a&gt;&lt;/p&gt; &lt;p&gt;We are at a really early stage in developing this system, so if you are interested in helping us or giving us initial feedback please do reach out.&lt;/p&gt; &lt;p&gt;We think this is a pretty interesting example of how you can use Ethereum to interact with old traditional banking infrastructure.&lt;/p&gt; &lt;p&gt;Please be advised, this is highly experimental right now and so do not risk substantial funds at this time.&lt;/p&gt; &lt;p&gt;Thank you,&lt;/p&gt; &lt;p&gt;OBFC&lt;/p&gt; &lt;/div&gt;&lt;!-- SC_ON --&gt; &amp;#32; submitted by &amp;#32; &lt;a href=&quot;https://www.reddit.com/user/clausen_eth&quot;&gt; /u/clausen_eth &lt;/a&gt; &lt;br/&gt; &lt;span&gt;&lt;a href=&quot;https://www.reddit.com/r/ethereum/comments/tt6gvs/obfc_a_wire_transfer_protocol_built_on_ethereum/&quot;&gt;[link]&lt;/a&gt;&lt;/span&gt; &amp;#32; &lt;span&gt;&lt;a href=&quot;https://www.reddit.com/r/ethereum/comments/tt6gvs/obfc_a_wire_transfer_protocol_built_on_ethereum/&quot;&gt;[comments]&lt;/a&gt;&lt;/span&gt;

OBFC – a wire transfer protocol built on Ethereum

#	Exchange	Pair	Volume (24H)	Volume (%)	Price	Last Updated
1	Gate.io	STND/USDT	$17.1K	98.57%	$0.0008024	Recently
2	Kucoin	STND/USDT	$247.7	1.43%	$0.00079	Recently
3	HitBTC	STND/USD	$0	0%	$0.001739	Recently

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Custodia and Kraken Lead as Crypto Firms Race for Fed Master Accounts

Introducing OBFC – Wire Money Over Ethereum

OBFC – a wire transfer protocol built on Ethereum

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