Myanmar’s exiled government is looking to the launch of Spring Development Bank, a fully crypto-native institution, as a way to help it receive greater access to financial services and funding.
Myanmar’s first entirely crypto-based banking institution has announced a soft launch for July 22 — a move that could see the country’s shadow government given greater access to financial services and funding.
A Spring Development Bank official who asked to remain anonymous for security reasons told Cointelegraph that crypto was the obvious solution to provide financial support to Burmese citizens as well as its exiled government. The bank’s CEO, who goes by the name Calvin T for security reasons, told Cointelegraph that the launch of the new institution signaled the first step in returning financial freedom to Myanmar.
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