- There is a shortage of banking crypto services in the United States
- But at least 8 brands are ready to solve this problem
Recently, the crypto industry lost three leading partner banks – Silicon Valley Bank, Silvergate and Signature Bank. Therefore, a huge hole has formed in this segment. And the problem is really serious. So, Silvergate served 1600 companies from the blockchain sector. And according to Signature’s own report, they already had over 800 crypto clients in 2021, including Coinbase, Paxos, and Circle. In the fourth quarter of 2022 alone, Signature’s crypto-to-crypto transaction volume was $275 billion. These payments were processed through Signet’s private blockchain.
Nevertheless, many US banks are already ready to pick up crypto clients from Signature and Silvergate. It’s figured out journalists CoinDesk. They got access to the correspondence of DCG employees who are now looking for new banking partners.
Companies such as Santander, HSBC, Deutsche Bank, BankProv, Bridge Bank, Mercury, Multis and Series Financial have declared their readiness to serve the cryptosphere.
DCG also negotiated with international banks (Revolut, United Overseas Bank and Bank Leumi), but their results are not yet known. As for the major brands (BlackRock, JPMorgan and Bank of America), the parties have not yet reached an agreement.
However, the willingness of banks to work with crypto firms in the US is only half the battle. It is important that the authorities do not interfere with this.
