Express
Crypto-Related Deposits Drop by Half at Metropolitan Commercial Bank
Summary: Throughout 2018, lender deposits shrank by 52%, digital currency clients accounted for 4% of the banks total deposits, down from 13% (Coin Vedi). While the decline may reflect the crypto bear market, it suggests that banks are facing competition. Digital currency customers hovered around a single percent in Metropolitan bank, the cash management fee spiked ...
Throughout 2018, lender deposits shrank by 52%, digital currency clients accounted for 4% of the banks total deposits, down from 13% (Coin Vedi).
While the decline may reflect the crypto bear market, it suggests that banks are facing competition. Digital currency customers hovered around a single percent in Metropolitan bank, the cash management fee spiked up around Q4 in 2017, the bank pointed out a fee decrease from digital currency customers.
By Claudia Rivera
Tags: Bank,Cryptocurrency,half
Link: Crypto-Related Deposits Drop by Half at Metropolitan Commercial Bank [Copy]
