U.S. crypto firms seek Swiss banking partners amid banking meltdown

Published by
Reuters UK

By Elizabeth Howcroft LONDON (Reuters) – U.S.-based crypto firms are trying to open Swiss bank accounts after the collapse of two U.S. crypto-focused banks made it harder for them to use lenders in the United States, but bankers said the Swiss firms may not take them. Crypto-focused U.S. bank Silvergate Capital Corp said it planned to close last week after it was hit with losses following the dramatic collapse of crypto exchange FTX in November last year. Its closure was followed by the collapse on Sunday of Signature Bank — seen as U.S. crypto firms’ main alternative to Silvergate — in one …

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