Question 1

What happened to Signature Bank's crypto banking division?

Accepted Answer

Signature Bank was closed by regulators in March 2023, shortly after Silvergate Bank also wound down. Both failures created a significant gap in US crypto banking infrastructure, particularly for real-time USD payment rails that crypto businesses relied on (Silvergate's SEN and Signature's Signet networks). The closures led to a consolidation of US crypto banking around Customers Bank and a handful of smaller regional institutions willing to serve the sector.

Question 2

What is the best US banking option for institutional crypto companies now?

Accepted Answer

Customers Bank has emerged as the primary US banking infrastructure for institutional crypto businesses post-2023, offering the CBIT real-time payment network — 24/7 USD transfers between institutional crypto clients. For companies needing to move large USD amounts around the clock without weekend settlement delays (a critical operational requirement for crypto exchanges and OTC desks), CBIT is the most direct successor to Silvergate's SEN.

Question 3

What is the CBIT network and how does it work?

Accepted Answer

CBIT is Customers Bank's real-time USD payment rail for institutional crypto clients — enabling 24/7, 365-day USD transfers between approved CBIT participants. Unlike traditional ACH or wire transfers that are constrained by banking hours and settlement windows, CBIT operates continuously, allowing crypto businesses to settle USD positions at any hour — matching the 24/7 nature of crypto markets.

Question 4

Are there European alternatives for crypto banking?

Accepted Answer

Yes — SEBA Bank (Switzerland, FINMA-regulated) and Bank Frick (Liechtenstein, Blockchain Act regulated) have expanded to fill the institutional banking gap for European Web3 companies. Both offer integrated fiat and crypto banking under regulated frameworks and serve clients that the post-2023 US banking environment has made difficult to serve through American institutions alone.

Question 5

Does Customers Bank work with all types of crypto businesses?

Accepted Answer

Customers Bank focuses specifically on institutional crypto businesses — exchanges, OTC desks, crypto funds, and stablecoin issuers — rather than individual retail crypto users or early-stage startups. Its CBIT network is designed for high-volume, time-sensitive institutional USD settlement, not for small-scale business accounts. Eligibility requirements include minimum balance requirements and relationship banking standards.

Question 6

Is Customers Bank open to early-stage crypto startups?

Accepted Answer

Customers Bank predominantly serves established institutional crypto businesses with meaningful operational scale. Early-stage startups with limited transaction volume typically do not meet the institutional account requirements. Early-stage Web3 companies should explore Fintech-adjacent banking options or European alternatives like Bank Frick, which serves a broader range of company sizes under Liechtenstein's progressive blockchain framework.

Signature Bank (Digital Asset Division) — Note: now operated via FDIC receivership

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