Banking power shifts from NYC to Texas and Wyoming, Caitlin Long predicts

Banking power shifts from NYC to Texas and Wyoming, Caitlin Long predicts
Tokenization decentralizes banking power hubs

Caitlin Long, founder and CEO of Avanti Bank & Trust at Custodia Bank, highlights how rapid developments in tokenization are dramatically impacting the banking and securities sector.

Long points out that as the industry evolves, traditional financial power is decentralizing from New York City to emerging hubs like Texas and Wyoming, a trend she argues benefits regular individuals.

Long has previously voiced concerns about federal involvement in the banking sector, specifically criticizing the Biden administration's actions against Silvergate Bank in a recent commentary. She has also highlighted lagging technology in U.S. financial institutions, pointing to Federal Reserve criticisms of core banking providers. These positions reflect her ongoing scrutiny of both regulatory practices and modernization efforts in the industry.

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