Are banks embracing cryptocurrencies?

More banks are starting to embrace cryptocurrencies, like Ally, and even Chase. These banks, which initially regarded cryptocurrency with skepticism and distrust, are changing their tune due to crypto's growing legitimacy.

What is a crypto bank?

Unlike standalone cryptocurrency wallets, crypto banks typically come with federally-insured bank accounts and a prepaid debit card in addition to cryptocurrency wallets. Moreover, crypto banking services providers are usually regulated.

What are the best crypto banks?

Pioneers in the crypto banks space include Bitwala, Coinbase, and Wirex, which were among the first to offer a full-service crypto banking experience. But the list of crypto banks is growing fast – both in the US and globally – as the old world of finance is emerging with the brave new world of cryptocurrencies.

Will Banks be pressured to offer Crypto to their customers?

“They’re seeing deposits going to the Coinbases and Galaxies and Krakens of the world.” As hundreds of smaller banks sign on, giants like JPMorgan Chase and Bank of America could face pressure to offer crypto to their retail banking customers, according to Rob Lee, head of digital banking at Fidelity National Information.