The wealthy elites of Silicon Valley in the United States are establishing a national bank focused on Crypto Assets.

Gate News bot message, the Financial Times reported that several American Silicon Valley billionaires have submitted applications for a charter bank license to establish a national bank named "Gulshan," primarily serving startups in the Crypto Assets sector and other fields.

According to the application documents released this week, "Gushan" Bank plans to offer traditional banking products and services related to virtual currency. The bank's main investors include Silicon Valley supporter Peter Thiel, among others, from the Republican government in the United States. Its target customers encompass businesses and their employees and investors in fields such as Crypto Assets, artificial intelligence, defense, and manufacturing, while also providing services to clients with "insufficient credit channels" and seeking collaboration with foreign enterprises looking to enter the U.S. banking system.

The Financial Times of the UK quoted informed sources as saying that this move came after the collapse of Silicon Valley Bank in March 2023, when startups engaged in businesses such as Crypto Assets trading faced financing difficulties in the United States.