Rick Rule's Battle Bank gets Fed approval

[pmbug]

I've seen Rick comment on his bank project a few times, but I'm still not clear on exactly what their unique selling point is.

 

[nickndfl]

I want a free toaster.

 

[pmbug]

Apparently Battle Bank opened in October with the acquisition of Stearns Bank Upsala, N.A.:

Battle Financial, Inc. Completes Acquisition of Stearns Bank Upsala, N.A. - Battle Bank

This acquisition officially marks the launch of Battle Bank, N.A. Following a strategic pivot away from its original de novo charter in 2024, Battle Financial successfully completed a capital raise earlier this month—securing nearly $75 million in new funding.

battlebank.com

Battle Bank is now FDIC insured.

Reading over their site I see that they offer:

• Global Markets & High Yield Cash Account - You can do some FX trading within this account (allocating your money to different global currencies)
• Allocated and unallocated precious metals accounts - storage fees apply for allocated (stored by Brinks)
• Precious metals lines of credit - You can borrow cash against your precious metals (up to 50% of your PMs value)
• Buy precious metals - Supposedly at 1% of Battle Bank's wholesale price

It doesn't look like they offer any program for lending/leasing or earning yield on your metals. They do pay yields on your cash account(s).

Home - Battle Bank

The Battle Begins Now! Waitlister’s Are Opening Accounts — Invitations Are Rolling Out Now. Watch your inbox. Your invitation is coming. Battling for Better Banking Built by banking veterans who’ve seen the system from the inside, Battle Bank was created for people who expect more — and deserve...

battlebank.com

 

[nickndfl]

Peter Schiff is setting up a depository crypto which seems like a good place to store some weight?