Stop or start? – After the adventures of Silvergate Bankof SignatureBank and some Bank of Silicon Valley, we would expect to see banks deserting the cryptocurrency sector. Too risky, too exposed and in the sights of the regulator, there are more cups to take than money to be made! But is this really the case? If we believe some indiscretions Collected by American media, some big international names would always be granted by crypto. They would also be ready to work with Group of digital currencies who needs new partners. WHO? Beginning of response to follow.
Digital Currency Group looking for new partners
Group of digital currencies (DCG) is a major player in the crypto ecosystem with several globally known companies. Recently we talked a lot about one of them, Genesis. This company is indeed one of the many collateral victims of the bankruptcy of FTX. This has also earned Barry SilvertCEO of DCG, A pass of arms with the Winklevoss brothers. In the family DCGAlso Grayscale investment with are GBTC, the media Coindesk which references in the middle and other companies that revolve around Bitcoin and crypto.
Following recent events and the bankruptcy of three banks specializing in services for crypto and crypto companies start-upDCG needs new financial partners. silver gate, which acted as an intermediary between traditional finance and crypto exchanges, is bankrupt. There Bank of Silicon Valley also all like the SignatureBank. So the group surveyed other banking establishments to find out their positions on the issue.
Big international names always ready to work with crypto companies
And who better to get information closer to the action? Coindesk of course! They are the ones who suggested that large banking groups will offer himself favorably to DCG to possibly provide financial services. Big names are even cited by the American media. We find Santander, HSBC, Deutsche Bank, BankProv, Bridge Bank, Mercury, Multis or even Series Financial.
Other behemoths are also contacted by BlackRock, JPMorgan or Bank of America, just that! The exchanges between the establishments and the DCG group suggest that certain services would still be boundaries by these banks which would retain their commitment while to be preserved. For example, brokerage, money transfer or money market services could be restricted. It would depend on the degree of exposure to the cryptocurrency. Coindesk Finally, international groups such as Revolut, United Overseas Bank or Bank Leumi are also approached.
In these untroubled times, it is difficult to know exactly what is going on behind the scenes. What is certain is that nature abhors a vacuum and the finance Also. The services formerly provided by banks in bankruptcy must be provided by someone. This may be an opportunity for some to comforter slight presence in crypto. For others, it’s an opportunity to find a place in the sun. More between the knuckles regulation flow, unite volatility extreme and twists and turns Repeatedly, we wish good luck to all the newcomers who will be arriving in the sector today!
