DCG began negotiations with various financial institutions for cooperation after the collapse of the US banks Silicon Valley Bank, Signature Bank and Silvergate. The list of potential partners includes such giants as Santander, HSBC, Deutsche Bank, BankProv, Bridge Bank, Mercury, Multis and Series Financial. All of them have stated that they are ready to work with cryptocurrency firms.
However, some financial institutions have reported possible restrictions for cryptocurrency companies. For example, for the provision of brokerage or market maker services, as well as the possibility of transferring money to third-party firms.
At the same time, traditional banks are ready to open bank accounts for crypto firms, and restrictions will be determined depending on the number of cryptocurrencies in the company’s assets. It is also reported that the American banks Western Alliance and Bridge Bank, despite the fall in the price of their shares, still open accounts for cryptocurrency companies.
Earlier, the CEO of the largest cryptocurrency exchange Binance, Changpeng Zhao, said that banks have become a real threat to the stability of fiat-pegged stablecoins.
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.