Topic: USD Banking for businesses (Read 109 times)
Well I don't know why you are asking this question but there are many transactions you can do through bamk to buy what ever cryptocurrencies you want to buy. I don't know maybe it had been a long time you have bought coin using fiat but you don't have to bother yourself about whether there is any bank that would be happy buying cryptocurrency with your own money. There are many banks those days that are tarding in cryptocurrency because they know that the market is very volatile and because that they can earn more money through customers funds by investing in them.
With the failures of Silvergate, Signature and others.
Does anyone know of any USD-based business banks that are happy with crypto businesses?
Well, the typical crypto exchanges. Does anyone know of any USD-based business banks that are happy with crypto businesses?
Coinbase(COIN) has even their stock and that means that they're engaged in both markets, the stock and cryptocurrencies. And by means of telling that they're happy, I'd assume that they're staying and won't be moved with all of those reported bank failures.
Robinhood I guess is also one of them.
This should be what you're looking for[1]
- Cross River Bank: Coinbase is one of their clients.
- BCB Group: working with Gemini, Crypto.com, and Kraken
- Customers Bank (Although there's nothing about the clients, it looks like they provide crypto solutions[2]])
The article also mentions "Jewel bank" which I remember coming across a not long time ago, but I'm not sure if it provides what you're looking for.
[1] https://www.efinancialcareers.com/news/2023/03/crypto-banking
[2] https://www.customersbank.com/commercial/instant-payment/
- Cross River Bank: Coinbase is one of their clients.
- BCB Group: working with Gemini, Crypto.com, and Kraken
- Customers Bank (Although there's nothing about the clients, it looks like they provide crypto solutions[2]])
The article also mentions "Jewel bank" which I remember coming across a not long time ago, but I'm not sure if it provides what you're looking for.
[1] https://www.efinancialcareers.com/news/2023/03/crypto-banking
[2] https://www.customersbank.com/commercial/instant-payment/
With the failures of Silvergate, Signature and others.
Does anyone know of any USD-based business banks that are happy with crypto businesses?
Do you know Silicon Valley Bank is not a bank which specializes to serve cryptocurrency business?Does anyone know of any USD-based business banks that are happy with crypto businesses?
That bank served for start-ups in IT area bht they collapsed. Additionally, if you check Big Tech company stocks like Amazon, Microsoft, Goggle, Apple and other companies in this field, you will see how they fell a lot in the last year. Are they better than Bitcoin? I guess not.
So the given reasons that it is risky to have a bank that serves cryptocurrency companies is onky partially true. It is hard to say it is more or less risky if a bank serves for non-cryptocurrency IT companies and cryptocurrency companies.
FTX exchange collapsed within a week is terrible but some banks collapsed within two weeks is more terrible.
There are some but they are mostly regional. A bank like JP Morgan won’t want to deal with the crypto headaches so they are out.
Right now it’s a problem for regional banks because if they accept crypto, and a year later there is some scare and a bank run happens they might have the same problem that Silvergate did and become insolvent. Hence why many won’t want to take that risk.
Right now it’s a problem for regional banks because if they accept crypto, and a year later there is some scare and a bank run happens they might have the same problem that Silvergate did and become insolvent. Hence why many won’t want to take that risk.
Some banks that have been known to be crypto-friendly in the past include Metropolitan Commercial Bank, Silvergate Bank, and Signature Bank. 2 of those already you mentioned which is already failed, so i don't think any other banks will priority crypto business. It is important to note that the regulatory landscape for crypto businesses is constantly evolving, and banks' attitudes towards them may change accordingly. Banking relationships can be complex and dependent on a variety of factors, such as the type of crypto business, its location, and its compliance practices
There are not any USD-based business bank that would be happy with crypto businesses. There is https://xexon.io/ - Seychelles, BTC, USDT ERC20 crypto debit card, online bank account, 450$ fee, 50$ per year, which is happy with crypto business, but it is unclear is it bank or not ? ( Source - https://www.cryptowisser.com/debit-cards/ )
You do not need a bank before you can use bitcoin or other crypto.
He asked for a "crypto businesses"!
There is no business that is larger than one man store that can run on only bitcoin, you need to pay bills, you need to pay wages, you need to pay suppliers and there is no way any company would survive on crypto-made deals!
But I am always wondering why people are depending on banks on what they can have without bank.
So you're telling me that you haven't used a bank in the last two years, or a service derived from a bank not even once!
Might work for a while in some complete black market economies in 3rd world countries but it's not going to happen if you want to run a business in either US or EU.
With Silvergate and Signature gone, Millenium cutting ties with crypto and Simple sold, the few that are crypto-friendly and deeply interconnected with exchanges that are left are probably Ally Bank, USAA, and..cough, cough.. BoA. Not on the same level of friendliness as the others but at least they have Coinbase integration and they do state, they have no problem with you actively trading and buying crypto through their account.
You do not need a bank before you can use bitcoin or other crypto. Bitcoin and altcoins are created without the need of bank or government dependency.
Banks like Ally Bank, Simple, BankProv, Revolut, Wells Fargo, USAA, Bank of America Financial Center, Chase, Goldman Sachs and many other banks in United States are crypto friendly.
Read this:
https://bankbonus.com/best/crypto-friendly-banks/#:~:text=Which%20US%20banks%20are%20crypto,Chase%2C%20and%20Bank%20of%20America.
But I am always wondering why people are depending on banks on what they can have without bank.
Banks like Ally Bank, Simple, BankProv, Revolut, Wells Fargo, USAA, Bank of America Financial Center, Chase, Goldman Sachs and many other banks in United States are crypto friendly.
Read this:
https://bankbonus.com/best/crypto-friendly-banks/#:~:text=Which%20US%20banks%20are%20crypto,Chase%2C%20and%20Bank%20of%20America.
But I am always wondering why people are depending on banks on what they can have without bank.
With the failures of Silvergate, Signature and others.
Does anyone know of any USD-based business banks that are happy with crypto businesses?
Does anyone know of any USD-based business banks that are happy with crypto businesses?
Jump to: