A new banking partner for U.S. cryptospace?

The U.S. crypto industry cannot flourish without a strong partner in the banking sector. The space might have found this partner in Customers Bank.

As Bloomberg first reported, the Pennsylvania-based bank has opened its doors wide to crypto companies. Customers includes exchanges, stablecoin issuers and market makers. In doing so, Customers Bank follows in the footsteps of Silvergate and Signature. Both banks were systemically important partners for U.S. cryptospace. In early 2023, both lending institutions went bankrupt - with huge consequences for the crypto space.

Apart from its openness to cryptocurrencies, the bank is considered innovative. It maintains a payment platform that customers can use to send money in real time. The company benefited from one circumstance in particular: the financial institution did not enter into an agreement with FTX - unlike Silvergate and Signature.