'You have to either go with a crappy bank or slip through the cracks': The reality of getting banked as a crypto firm in Europe
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Quick Take
- Mid-size European crypto firms are facing a double-pronged banking crisis
- The handful of small, “crypto-friendly” banks are seemingly only friendly in name, accepting only a select-few firms, while “blockchain phobia” among mainstream banks continues
- Many firms are now resorting to back-room deals or facing long, expensive delays to get banked via alternative institutions
- There are some preliminary plans to meet the serious demand for a Silvergate-equivalent in Europe, but not in the short term
£20,000 a month. It’s a steep price to pay for a checking account, but firms like crypto exchange LBX have little choice thanks to the sorry state of crypto banking across the Atlantic. European firms face a serious issue, according to newcomers in the space. They lack options akin to the U.S.’s Silvergate; an eminent […]
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