Company Information

Get to know American Challenger Development Corp

American Challenger Development Corp. was established as a blank-check company with the mission to create a premier digital-native bank serving communities and small to medium-sized businesses across the United States. Its strategy was to combine with a traditional bank and leverage a modern technology stack to offer superior customer service, better pricing, and more efficient operations. The company entered into a definitive agreement to merge with Patriot National Bancorp, Inc. in 2021. However, the merger agreement was terminated in March 2022, and American Challenger Development Corp. subsequently liquidated and dissolved in late 2022. While the brand's website remains active, the specific corporate entity (ACAC) is no longer operational.

Industry

Financial BankingPRIMARY
Financial Fundraising
Technology Software Development

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American Challenger Development Corp

N/A

Founded in

2020 (6 Years)

Founded

Last online: No recent activity

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FTD LIMITED

(505 reviews)

British Virgin Islands

2017

(9 years)

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BVI FSC

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.