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BofB is a crypto exchange created in response to the difficult, unhelpful behavior many customers encountered from large mainstream banks when trying to use traditional banking rails for cryptocurrency trading. BofB stands for “Bank of Bitcoin,” but it is not a bank; nevertheless, from the start it has been part of the project’s plan to obtain full licensing as a money transmitter and/or a chartered bank if the BofB legal and compliance team concludes those licenses are required to keep expanding while staying compliant across every jurisdiction. BofB is intended to function as a bridge platform, offering wallet, vault and exchange services that work together as Bitcoin shifts from a crypto/fiat setup toward a digital-asset-only model.
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