Bitcoin Friendly Crypto Industry’s Market Banks in America

A decade ago, when cryptocurrencies were slow to gain momentum, it was hard to imagine that they would one day be recognized by major financial institutions. Today, however, when the crypto industry’s market cap has soared past $1 trillion, there is certainly a trend among banks to adopt innovative payment methods. In the US alone, more banking institutions start accepting or using cryptocurrencies every year. Read this article and learn about US banks that accept Bitcoin. key point: The adoption of crypto-friendly laws in various states has led to an increasing number of U.S. banks accepting Bitcoin.

Bank Of America Is An Institution That Needs No Introduction

Traditional financial institutions such as Bank of America and JPMorgan Chase already offer crypto products to customers. Businesses don’t need a bank account to accept crypto as they can do it directly with NOWPayments. In the United States, for example, there Croatia Phone Number List is no single framework that clearly regulates cryptocurrencies. Fortunately, some states are gradually adopting new crypto-friendly regulations. For example, Wyoming became the first state in the United States to establish a state-chartered depository institution to provide banking services to blockchain-related businesses.

Silicon Valley Bank Certainly Gets An Award For The Coolest

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Silicon Valley Bank certainly gets an award for the coolest name in the industry. The Most Crypto-Friendly U.S. BanksCommercium is a bank you’ve probably never heard of. In fact, however, it is one of the leading institutions driving the adoption of digital assets by banking stakeholders. Signature Bank is another bank that has received little media coverage. Still, the agency’s crypto reserves are actually staggering. In the second quarter of 2021 alone, the bank received over $6 billion in crypto deposits from customers. According to the bank’s more than half of that came from digital asset exchanges, and another billion constituted stablecoin reserves. Such rapid growth in the digital asset reserve space makes Signature Banks one of the most crypto-friendly institutions out there.

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