Why this Pennsylvania Bank is the new star of the crypto world

Von Krypto News Österreich

Die Customers Bank aus Pennsylvania hat in den letzten Jahren viel Aufmerksamkeit in der Kryptowelt erlangt. Dadurch, dass sie Partnerschaften mit Unternehmen für digitale Vermögenswerte, wie Börsen, Market Maker und Stablecoin-Emittenten, eingegangen ist, konnte sie sich in dieser Branche etablieren. Mit ihrer Zahlungsplattform Customers Bank Instant Token (CBIT) ermöglicht die Bank es Kryptokunden, Dollar genauso schnell und einfach wie in der Digital-Asset-Branche zu überweisen – rund um die Uhr an sieben Tagen in der Woche. Die Customers Bank wurde zur ersten Wahl für Kryptounternehmen, die einen Bankpartner suchen, nachdem Silvergate Capital Corp. und Signature Bank zusammengebrochen sind. Während diese beiden …
Customers Bank from Pennsylvania has achieved a lot of attention in the crypto world in recent years. By entering into partnerships for digital assets such as stock exchanges, market maker and stable coin emittent, they were able to establish itself in this industry. With its payment platform Customers Bank Instant token (CBIT), the bank enables it to be crypto-coaches to transfer dollars as quickly and easily as in the digital-asset industry-around the clock, seven days a week. Customers Bank became the first election for crypto companies who are looking for a bank partner after Silvergate Capital Corp. and signature bank collapsed. While these two ... (Symbolbild/KNAT)

The Customers Bank from Pennsylvania has achieved a lot of attention in the cryptocelt in recent years. By entering into partnerships for digital assets such as stock exchanges, market maker and stable coin emittent, they were able to establish itself in this industry. With its payment platform Customers Bank Instant token (CBIT), the bank enables it to be crypto-coached to transfer dollars as quickly and easily as in the digital-asset industry-around the clock, seven days a week.

The Customers Bank became the first election for crypto companies who are looking for a bank partner after Silvergate Capital Corp. and signature bank collapsed. While these two banks lost their money last year due to regional bankruptcy, the Customers Bank was able to assert its position as an intermediary of dollar transactions for crypto companies.

A decisive difference between Customers Bank and its competitors is your approach to risk management. In contrast to Silvergate and Signature Bank, the Customers Bank keeps CBIT deposits in US currency instead of investing them in securities or loans. As a result, the bank can react quickly to withdrawal requirements and enable customers to access their funds if they are needed.

Another feature that distinguishes the Customers bank is its practice to distribute large deposits to different banks. This service called "Insured Cash Sweep" helps insertion to cover your insurance cover by the Federal Deposit Insurance Corp. (FDIC) maximize. This is an important function, especially for crypto companies that often keep considerable amounts of money on secure accounts.

Despite its success in the crypto industry, the CEO of Customer Bank, Sam Sidhu, has decided to limit the deposits on its real-time payment platform CBIT to a maximum of 15 % of the total. At the end of the first quarter, the total volume of the CBIT inlays was around $ 2.25 billion, which corresponds to 13 % of the total bank of $ 17.7 billion.

The main focus of the Customer Bank is on the expansion of their payment transactions and the deepening of customer relationships with other industries such as fund financing, technology and risk capital. According to SIDHU, digital assets are an excellent application for the bank's technical skills in payment transactions, but only a small part of a more comprehensive plan.

While the success of the Customers Bank in the crypto industry offers hope for the future of crypto banking, there is still a problem for the industry, especially for less established actors. Diogo Monica, co-founder of Anchorage Digital, emphasizes that more alternatives and Fiat banks are needed that support crypto players.

In addition, the position of Customers Bank as the first choice for crypto companies could attract additional attention from supervisory authorities who have warned according to the risks associated with business processing with the industry. Nevertheless, the success of the Customers Bank in the emerging industry gives hope for the future of crypto banking. Other small banks could follow their example and work with companies for digital assets to support their growth.