Signature Bank Crosses $10B in Deposits From Crypto Customers
Signature's $10 billion in deposits from crypto businesses is now double that of rival Silvergate.
Signature’s CEO said on an earnings call Wednesday the bank wants it to be a “no-loss business.”
These deposits are seen as a proxy for growth among crypto-industry clients.
Signet is a real-time payments platform built on the Ethereum blockchain.
The partnership will allow for future integrations of Circle products and services within the bank.
Signature is "positioned to ride the crypto wave," a JPMorgan analyst wrote.