There are hundreds of US banks that will offer Bitcoin trading services during Q1 of 2022 as cryptos are set to continue to explode in popularity.
The mass adoption of digital assets has been one of the main goals that the crypto industry had and there have been a lot of moves made in this direction. They seem to continue these days and the latest move comes from the US.
More US banks to offer BTC trading to clients
According to a new report coming from American Banker, an estimated 300 community banks will start providing BTC trading on their mobile apps. This move will be starting in the first or second quarter of this year with the aid of crypto fintech company NYDIG.
One bank involved in the program is Georgia-based BankSouth with over $1.3 billion in assets.
BankSouth CEO Harold Reynolds said the following:
“We have seen significant activity in cryptocurrency transactions from our customer accounts, and a few investments have been rather large, so that is obviously getting our attention.”
The first bank to offer BTC trading, Oklahoma-based Vast Bank, has already seen success, according to CEO Brad Scrivner, as per the online publication the Daily Hodl.
Vast Bank teamed up with crypto exchange giant Coinbase and began supporting digital assets last October. The bank currently offers 12 crypto assets.
“The Vast crypto banking launch has gone well. In the first four months since launch, we added approximately five times our historical retail customer base and those customers are in all 50 states and three U.S. territories.”
Regarding the price of Bitcoin these days, at the moment of writing this article, BTC is trading in the red and the price of the king coin is above $42k.