CUBI - Customers Bank Ends Services For Some Crypto Hedge Funds | Benzinga
Customers Bank, known for its crypto-friendly services, has ceased providing banking services to certain hedge-fund clients.
What Happened: While the bank revealed halting services, the extent of the off-boarding remains unclear. CoinDesk reported on Friday, citing three people familiar with the matter, that "a load of funds” were affected. The move targeted inactive accounts rather than a broad industry-wide action and several funds are now seeking new banking providers.
The West Reading, Pennsylvania-based company, owned by Customers Bancorp (NYSE:CUBI), offers a real-time blockchain-based payments platform, Customer Bank Instant Token (CBIT), facilitating 24/7 U.S. dollar payments for its ...