Signature Bank Crosses $10B in Deposits From Crypto Customers

Deposits at crypto-friendly Signature Bank grew by $4.11 billion, an 8% increase, in the third quarter of 2020.

These deposits are seen as a proxy for growth among crypto-industry clients.

This is another clear example of why users should not keep their funds in a bank account. Holding cash is becoming a less favourable option for many customers around the world. Charging fees on cash deposits is becoming the new norm in Germany, and more of them will follow in the coming months. So far, two more banks have taken this route, including the Bank of Ireland and Ulster Bank It looks like the negative interest rates will be passed on to customers who make cash deposits. It was only a matter of time until the negative interest rates would be passed on to the customers. Not only....

WB21 will be the first digital bank to accept deposits in bitcoin from customers looking to transfer and deposit funds into their checking accounts. Customers of digital bank WB21 will now be able to use bitcoin to transfer and deposit funds to their checking accounts. The bank has over half a million customers around the world, enabling them to make real-time deposits from bitcoin transfers into 18 local currencies currently offered by WB21. WB21 will be using leading bitcoin payment processor BitPay to enable the feature. In essence, it is very likely that customers will be able to....

Silvergate Bank added $586 million in new deposits from firms and individuals in the cryptocurrency industry in the third quarter of 2020.