Fluent Finance’s Statement on Farmington State Bank Developments and Our Continued Commitment to Transparency

Statement of Disclosure

Fluent Finance
2 min readAug 22, 2023

In light of recent media coverage concerning the Federal Reserve’s Consent Order to Farmington State Bank, Fluent Finance wishes to address and clarify our position regarding our prior tentative collaboration with Farmington, doing business as Moonstone Bank.


In October 2022, Fluent Finance began exploring with Moonstone and other parties potential pathways to test the prototype USPLUS Stablecoin and demonstrate how digital technology could be utilized by financial institutions to increase efficiency and accessibility to financial services. Though this collaboration remained prospective, Moonstone’s responsibility was to offer API access to deposit accounts (USD fiat), while Fluent Finance developed the stablecoin issuance layer for testing. It was built on mutual trust with the shared goal of advancing blockchain technology’s potential in the financial sector.

Operational Impact

We want to assure our stakeholders, partners, and users that Fluent Finance is not operationally impacted in any way by the recent regulatory announcement regarding Farmington State Bank. Fluent Finance operates as an independent entity, and is not impacted by the operational challenges of third parties. Our primary concern has always been, and will remain, the well-being and interests of our community.

Advocating for Smart Regulation

As part of our dedication to maintaining the highest business integrity and legal compliance standards in the industry, Fluent Finance is SOC 2 Type 1 compliant. We believe smart regulation is vital for the broader institutional adoption of web3 and distributed ledger technology, and we welcome regular and transparent discussions with regulators to help ensure that this technology reaches its full potential, safely and securely.

Transparency is Our Motto

Our relationship with the community is founded on transparency. It’s how we operate. Whether it’s our dealings with partners or our interactions with users, we believe that open communication is the key to trust and success in the evolving regulatory landscape.

We envision a future where digital assets are integral to global finance, fueled by clarity and trust, and tempered with ongoing focus on legal compliance, integrity, and transparency.

For further inquiries, please contact Hari Govindarajan, PR & Comms Specialist, at hari@lunapr.io



Fluent Finance

We’re building institutional deposit token infrastructure so banks, governments, and investors can transact better, faster, cheaper, and more reliably