Coast Announces New Banking Relationship with Old Glory Bank

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To better service the needs of the PulseChain community, Coast and its subsidiary companies are proud to announce that they have opened business accounts with Old Glory Bank.  This new banking relationship aims to provide seamless banking solutions for users of the Coast dApp in all 50 US States where Old Glory Bank provided services. This further expands our market coverage which already includes more than 90 countries around the world.

As the first direct fiat on-ramp to and stablecoin provider on PulseChain, Coast believes that having business bank accounts with Old Glory Bank will enable increased adoption of the chain within the United States.

Key Details

Because of the strict compliance procedures by Old Glory Bank, these new account relationships were created over the course of several months including extensive compliance, risk and fraud analysis by both parties. Our focus has always been on providing US users with a long-term on-ramping solution and now we have it.

  1. Commitment – Old Glory Bank is committed to providing the best mobile banking products and services and we believe they will be our preferred bank for many years to come.
  2. Accounts – Users may create any Old Glory Bank account (there are many options both personal and business). No more Omnibus FBO products offered through 3rd parties.
  3. Locations – Old Glory Bank has customers in all 50 US States. 
  4. Mobile Native – Customers of Old Glory Bank can use their proprietary, closed-loop payment app, Old Glory Pay (iOS and Android) giving users a mobile-first experience for deposits and remittances.

Benefits to Coast Users

Values – We believe that the mission of Old Glory Bank aligns almost exactly with that of PulseChain and PulseX. But don’t take it from us, here is the Old Glory Banking Bill of Rights:

Sovereignty – 100% sovereignty of your assets. Coast is a self-custodial fiat onramp. We do not hold your private keys or your crypto. That hasn’t changed. To use the Coast onramp, you will still need a self-hosted wallet. But now, your fiat (USD) is more secure as well. When you open and hold your funds in a bank account at Old Glory Bank, you are entitled to FDIC insurance as a direct account holder. 

Old Glory Bank does not accept or hold crypto, keys, or tokens, but they are a great place to hold your cash because they honor PSL – Privacy, Security, Liberty. Unlike a challenger bank, that uses Omnibus FBO products, where your personal funds are held together with other depositors, an account at Old Glory Bank ensures that your funds are held in your own FDIC insured bank account. 

Debit Card – all Old Glory Bank spending accounts come with a debit card that can be activated through their automated system. By burning $CST, $USDC, $USDT or $DAI on PulseChain and requesting a Withdrawal, your funds are automatically disbursed to an account that you can spend from IRL.

Mobile App – all Old Glory accounts come with mobile access through the Old Glory Banking app (think regular banking) and Old Glory Pay app (think Venmo, Zelle etc…).

US Customer Support – Old Glory Bank has a beautiful branch in Elmore City, OK, but customers in all 50 states bank with them using their great mobile banking solutions. Their customer service team is 100% located in the United States and extremely responsive to requests. Their online reviews are exceptional.

From Leadership

More than 200,000 wallets worldwide sacrificed for Freedom of Speech and Freedom of Movement during the launch of PulseChain. We are thrilled to have finally found a US financial institution that believes in those same values. This has been a long time coming. We are excited to finally have services up and running for US users again.” – Stoic @ Coast

Impact on the Industry

Have a bank account at Old Glory Bank creates one of the most seamless self-custodial on-ramping experiences in the whole blockchain industry. You no longer need to deal with the fees charged by centralized exchanges or incur the risk associated with the use (and cost) of bridges that are prone to hacks. Big banks should not dictate who gets to use America’s financial institutions or the blockchain. Both Coast and Old Glory Bank support financial freedom for law abiding customers.

How To Get Started

If you don’t already have a Coast account, go here to register. For non-US users, you’ll find a range of Deposit options on the Deposit and Withdraw page. For US users, you’ll find links to create an Old Glory Bank account on the same page along with instructions for using Old Glory Pay to fund your Coast account.

Future Developments

The ability to deposit to your Coast Account and receive withdrawals from Coast via the Old Glory Pay app is the cornerstone of this banking relationship. However as the relationship deepens, we will explore ways to further integrate the two systems to reduce friction in both areas.

About Coast

Coast is a Self-custodial fiat on-ramp providing seamless on-ramping to and off-ramping from PulseChian via the fiat-backed $CST Stablecoin.

Email: [email protected]
Website: 0xcoast.com
dApp: app.0xcoast.com
X: @0xCoast
Reviews: Trustpilot

About Old Glory Bank

Old Glory Bank is an FDIC-insured bank that offers the best mobile banking solutions for consumers and businesses, from sea to shining sea. Old Glory Bank is committed to serving those who feel marginalized for believing in the greatness of America. Old Glory Bank was co-founded by some of the leading voices supporting freedom and love of country, including former Secretary of Housing and Urban Development Dr. Ben Carson; Radio and Television Host Larry Elder; country music superstar, TV host, entrepreneur, and songwriter, John Rich; and former two-term Governor of Oklahoma Mary Fallin-Christensen. Visit www.oldglorybank.com. We Stand with You. No Matter Where You Stand. Member FDIC.

Website: oldglorybank.com 
Account Opening: account.oldglorybank.com
X: @OldGloryBank
Reviews: Yelp

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