National Bank Holdings in Denver has invested in a blockchain fintech firm as part of a broader effort to build a comprehensive digital platform.
The $7.1 billion-asset company said in a press release Tuesday that it will work with Figure Technologies on a variety of blockchain-related initiatives. National Bank did not disclose the size of the investment or any specific initiatives.
National Bank said it is also finalizing an investment in Finastro Holdings Pty, a technology-based provider of digital working capital solutions.
National Bank did not disclose the size of either investment.
“Our vision is to create a digital financial ecosystem within a bank regulatory framework,” Tim Laney, National Bank’s CEO, said in the release. “We are collaborating with best-of-breed technology partners to deliver innovative and powerful solutions to solve problems for small and [midsize] businesses.”
National Bank said it will continue to collaborate with strategic partners on digital products that provide greater access to credit, government-insured depository and treasury management solutions and integrated financial information with the added goal of lowering clients’ transaction costs.
Figure applied to the Office of the Comptroller of the Currency in November for a specialized charter. The fintech plans to only hold uninsured deposits.
The application prompted the Conference of State Bank Supervisors to file a lawsuit in the U.S. District for the District of Columbia, claiming that Figure is basically trying to secure a fintech charter while asserting that the National Bank Act doesn’t allow the OCC to create one.