major crypto groups digital currency group (DCG) is seeking to secure new banking partners for its portfolio companies after recent fall Silicon Valley Bank SIVB, signature bankAnd Silvergate Capital Corp. SI,
coindesk informed of including many banks Santander San, hsbc hsbc, Deutsche Bank database, bankpro, bridge bank, wed, multisAnd chain financialEager to build relationships with crypto firms.
expand it OptionDCG has also contacted black Rock Black, JP Morgan jpmAnd Bank of America BAC for banking assistance.
The report states that while traditional bank are ready to set up banking accounts for cryptocurrency firms, they may impose certain restrictions, such as limiting certain services such as brokerage and money market services, as well as wire transfers to third parties depending on the risk level of the crypto asset.
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DCG is also exploring international banking partnerships with institutions such as Revolut in the UK, United Overseas Bank (UOB) in Singapore and Bank Leumi in Israel.
In response to the situation, a DCG representative will meet with Senate Banking Committee staff to discuss the consequences for SVB, Signature, and Silvergate.
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