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How a Community Bank Launched a Retail Crypto Platform
Currently unavailable
How a Community Bank Launched a Retail Crypto Platform
ratings:
Length:
26 minutes
Released:
Sep 8, 2021
Format:
Podcast episode
Description
Banks of all sizes are hearing from many customers that they want exposure to the fast-growing but volatile cryptocurrency market. Vast Bank — a community institution in Tulsa, Oklahoma — recently became the first nationally chartered, FDIC-insured bank to offer crypto banking, a product that allows customers to buy, sell and hold virtual currencies through the bank’s user interface. On the season four premiere of the ABA Banking Journal Podcast — sponsored by S&P Global Market Intelligence — President and CEO Brad Scrivner discusses: The mechanism of crypto banking at Vast Bank, including its partnership with Coinbase. The behind-the-scenes process that allows Vast Bank to securely custody crypto assets. The process of working with regulators on the product, particularly after an OCC interpretive letter on digital asset custody. Why many crypto early adopters have sought out a bank to support their coin trading and holding. How crypto banking grew out of Vast Bank’s transition to a cloud-based core and investment in digital transformation. This episode is sponsored by S&P Global Market Intelligence.
Released:
Sep 8, 2021
Format:
Podcast episode
Titles in the series (100)
Seeing Results from Community Bank Advocacy: Even the best-intentioned policies often face implementation challenges when they meet the real world. For example, the Ohio legislature required banks to use a pooled asset system for collateral for public funds — “in theory, a great idea” that... by ABA Banking Journal Podcast