Summary: Signature Bank, a cryptocurrency-friendly bank revealed that its total deposits from clients in the crypto industry have reached $10 billion, which is twice that of Silvergate Bank, as reported by Coindesk. The deposits from digital currency customers accounted for nearly 16% of the bank's total deposits. Joseph DePaolo, CEO of Signature mentioned that the blockchain-based payment ...

Signature Bank, a cryptocurrency-friendly bank revealed that its total deposits from clients in the crypto industry have reached $10 billion, which is twice that of Silvergate Bank, as reported by Coindesk.

The deposits from digital currency customers accounted for nearly 16% of the bank's total deposits.

Joseph DePaolo, CEO of Signature mentioned that the blockchain-based payment platform Signet is the main driving force for growth, and institutional adoption accelerates the progress. Notable institutional clients include Voyager Digital Holdings, Polychain Capital, and bitFlyer USA.

By Mary Liu