Why Banks Aren’t Banking Your Crypto Startup By Cointelegraph


Your bank, no matter how neo or how challenger, can’t bank (BTC). They could bank blockchain companies, adding value and providing services for the space, which would be good for both the bank and the clients, but they are afraid of repercussions from regulators and their partners.

Since many smaller banks use “correspondent banks,” whose direct access to the Federal Reserve system’s FedWire and other official payment rails they leverage, they can’t make the decision to accept Bitcoin clients in a vacuum. They must consider their correspondents (generally, big banks), who don’t want their partners working with crypto — a classic underbanked industry.

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source Link