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23 September 2019

Big Banks Won't Touch Crypto Clients – But These Smaller Banks Will - Bitcoin News

Big Banks Won't Touch Crypto Clients – But These Smaller Banks Will - Bitcoin News


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Banking is often a bottleneck in the crypto space as most traditional institutions are still reluctant to get their feet wet.

The case of the German WEG Bank illustrates this very well and shows that banks and crypto companies can cooperate in a mutually beneficial way.

Since the launch of its crypto business six years ago, San Diego-headquartered Silvergate Bank has established itself as one of the few banks in the United States that is readily providing services to the digital asset industry.

Other crypto-friendly banks operating in the United States include New York-based Quontic, which is now providing services to crypto companies in its strictly regulated jurisdiction.

Banks working with cryptocurrencies and companies specializing in crypto-related banking are likely to see more regulatory clarity in the future with the adoption of comprehensive national legal frameworks.

For example, financial authorities in Switzerland recently licensed two companies, SEBA Crypto AG and Sygnum AG, to serve as banking institutions for the country’s growing crypto industry.

And they were exactly the kind of people we had been struggling to access for 10 years with traditional private banking offerings,” CEO Stephan Zwahlen told Swissinfo last month.

“We found that they were typically between 30 to 40 years old, very well educated and with an entrepreneurial mindset,” he added, speaking about how his bank found an alternative revenue source in the Swiss crypto sector.

If you are looking to safely and securely enter the crypto space, you can do so by purchasing bitcoin cash (BCH) and other major coins with a credit card at buy.Bitcoin.com.

Do you expect to see large banks offering services to clients dealing with cryptocurrency in the future

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