Mapping out crypto-friendly banks & e-money institutions

Quick Take

  • Businesses within the digital asset industry often have trouble establishing banking relationships due to compliance costs and reputation risk
  • As the industry continues to mature, larger banks will likely begin offering their services to crypto clients, as The Block previously found that there are currently three times as many crypto-friendly banks as there were in 2018
  • There are at least 50 crypto-friendly banks and or e-money institutions that provide services to crypto-focused companies
There are an array of businesses — namely a select group of banks and e-money institutions — willing to help connect crypto firms to the wider financial system. Mainstream banks remain reluctant to provide banking to cryptocurrency businesses as compliance costs and reputation risk continues to outweigh the benefits of the still-nascent industry. Smaller banks have […]

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