Every stablecoin, on/off-ramp, and neobank still relies on real banks to move money. As well as AI agents and robots when the right time comes. Here's a comprehensive update on how @717CapitalAI upcoming bank works and everything we know: 1️⃣ The Institutional Core 717 Capital isn’t a neobank. It’s a settlement firm building a private, crypto-native commercial bank in the U.S. Midwest. They’re currently in the final stages of acquiring the bank and plan to replace the board and restructure it from the ground up. Why this matters: > Private entity (not public sign-ups) serving fintechs, digital-asset firms & HNW clients > 24/7 settlement rails with no third-party intermediaries > Solves exchange deposits, stablecoin mints/redemptions & Fed clearance > Offers full commercial services (OTC, FX, fiat transfer, stablecoin savings, etc.) Backed by institutional partnerships: @circle, @Tether_to, @GoKiteAI, and rumours of @Anchorage. 2️⃣ Institutional Reach 717 has 30+ counterparties, regularly facilitating 6-figure OTC settlements with 9-figure total settlement volume. They’ve met new partners at Money 20/20, attending Mar-a-Lago events, and have worked with major political and financial figures. They’re positioning themselves as the bank behind all neobanks. 3️⃣ The $WIRE Flywheel > Every OTC transaction burns $WIRE. > Every $WIRE burn increases the cost of access to this banking network. >A real deflationary system tied to real institutional volume. Token mechanics: - $WIRE = terminal access token - Burns = deflationary pressure - Holders can license, rent, or sell access rights - 717k+ $WIRE unlocks institutional-grade tools & insights - OTC services will be accessible to retail without crazy fees 4️⃣ Proof of Economic Activity > Over 5% of supply already burned and 5% staked > $700k worth of $WIRE locked in @wasabi_protocol → 18% of total supply is out of circulation > Frequent buybacks from settlement and trading revenue (last one: ~$60k) > #1 on @virtuals_io for buyback activity 5️⃣ Market Strength > Strong smart-money accumulation for months > Consistent top-20 daily volume on @virtuals_io (often top-10) > 717’s business model doesn’t rely on trading fees > Chart structure and TA strength remain elite 6️⃣ The Bigger Picture > Owning the rails means owning the future of crypto banking. > 717 is building direct Fed access with no intermediaries, no delays. > AI agentic economy needs access to real-world funds and 717 is in position to be a big player in settling these transactions. 7️⃣ Potential Catalyst Rumors suggest an airdrop from @GoKiteAI for $KITE who just raised $32M for $WIRE holders in November. And that might just be the first among 717’s client network.