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How to Choose the Best Crypto-Friendly Bank for Business

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How to Choose the Best Crypto-Friendly Bank for Business

The global market appetite for cryptocurrencies continues to grow around the world. Triple A, a cryptocurrency payment company, reported in 2021 that India had the highest number of cryptocurrency owners surpassing over 100 million individuals, while Ukraine had the highest percentage. high number of owners based on population, representing 12.73%.

With over 300 million cryptocurrency users worldwide and a host of other digital assets used in investments, payments and for transactional purposes, institutions need to do their due diligence to identify banking institutions that can support their operations. This goes beyond evaluating and determining which of a select group of banks can support current operations and should include evaluating available technology and personalized service to support scalability and agility to meet future demands.

With experience gained from working with around 100 of the leading cryptocurrency and digital asset institutions – spanning exchanges, custodians, integrators, miners, institutional financial firms and other digital asset organizations – Customers Bank realizes that institutions should consider the following key pillars when evaluating a real-time cryptocurrency or digital asset payment platform:

  • Speed ​​of payment
  • Cross-border payments
  • Easy access to reports
  • Strength of entry and exit ramps for fiat currency

These common pillars have become table stakes across the industry, but not all banks are able to deliver the same speed, scale, or superior customer experiences as Customers Bank. The Digital Asset Banking team understands that the priority is being able to move money overseas and across borders with fast settlement and efficient reporting.

The bank’s instant payment platform using its Customers Bank Instant Token (CBITMT) offers a clear, easy-to-use solution offering straight-through processing, same-day settlements, and robust on- and off-ramps to fiat currency that large financial institutions cannot guarantee. If a customer needs to send money overseas, the bank can make it easy for them today.

As a leading digital and fintech bank, the Digital Asset Banking team provides customers with Customers Bank’s single point of contact model, backed by best-in-class technology capabilities. The team provides one-on-one service to listen and understand issues encountered elsewhere, discover opportunities to provide better service, and offer a direct connection to the service team to resolve previous shortcomings.

With a larger team dedicated to digital asset banking, Customer Bank provides personalized service to customers while maintaining operational flexibility to serve new customers. Customers know that the team understands what they are looking for and that they will not be considered or treated like another account grouped in a mix of similar companies.

About the Author: Daniel Devine is the Senior Vice President of Digital Asset Product Development at Customers Bank – a fintech committed to providing the best services to businesses transacting in cryptocurrency.

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