Financial results released by two U.S. banks providing services to the crypto industry have indicated a decline in deposits from digital currency customers. However, a positive trend has been observed as well. One of the crypto-friendly institutions, Silvergate Bank, has seen an increasing number of crypto clients throughout the year.
Also read: Swiss Bank Julius Baer Offers New Digital Asset Services With Licensed Crypto Bank SEBA
Silvergate Bank Adds 48 Crypto Customers in Q4
Last year saw a reversal of the crypto market downturn but the cryptoconomy hasn’t fully recovered yet. Although the growing regulatory clarity in the developed world, and hopefully restored interest in decentralized money can potentially increase turnovers in the near future, the recovery may take longer. Luckily, there’s a number of financial institutions willing to support the crypto sector.
Several of these banks operate in the U.S. and this week one of them, Silvergate Bank, published its Q4 and full year results for 2019. The California-based…