Santander, HSBC and Other Banks Still Believe in Crypto
Digital Currency Group (DCG) is looking for new banking partners for its portfolio companies, as Silvergate Bank, Signature Bank and Silicon Valley Bank (SVB) have encountered difficulties.
DCG has reached out to BlackRock, JPMorgan, Bank of America, Revolut in the UK, United Overseas Bank in Singapore and Bank Leumi in Israel, but has yet to receive a satisfactory response.
Santander, HSBC, Deutsche Bank, BankProv, Bridge Bank, Mercury, Multis and Series Financial banks are still available to work with digital assets.
Restrictions on services like brokerage and transferring money to third parties will depend on the level of vulnerability of the firms.
The California Department of Financial Protection and Innovation has recently closed SVB and appointed FDIC as administrator due to “insufficient liquidity and insolvency.”
