17:33 - 10.04.2023
April 10, Fineko/abc.az. The American division of the Binance cryptocurrency exchange is trying to find a bank to process its customers' funds after the bankruptcy of Signature Bank last month, ABC.AZ reports with reference to The Wall Street Journal.
Previously, money was sent either to Signature Bank or Silvergate Capital Corp, which were considered crypto-friendly banks. However, according to the latest data, the exchange is now trying to find a new banking partner.
Binance.US uses at least one mediator to store funds, and since the money is held by a third party, this can slow down the sending and moving of funds.
The company unsuccessfully tried to establish relations with Cross River Bank and Customers Bancorp Inc.
