Harold Reynolds, the CEO of Georgia based BankSouth said,

“We have seen significant activity in cryptocurrency transactions from our customer accounts, and a few investments have been rather large, so that is obviously getting our attention.”

Vast Bank, based in Oklahoma, has been involved in cryptocurrencies since August 25, 2021, when the bank announced the rollout of its “Crypto Banking Service.” CEO of Vast Bank, Brad Scrivner, has been pleased with the performance of the service thus far and will continue to expand their services with NYDIG.

Despite the rapidly growing level of adoption, the crypto regulatory framework in the US has remained muddled. The US government is continually looking into increasing regulations aimed at the fast-growing crypto market, with the Biden administration planning to issue an executive order regarding crypto investments.

More people would own bitcoin if they could do so through their existing banks or other traditional financial institutions, according to a survey commissioned by NYDIG. Owning Bitcoin through their current bank would allow clients to have a single view of their financial assets, avoid the need to sign up with another institution and fund the account with a money transfer that typically takes three to five business days, and avoid the need to have a separate digital wallet.

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