Crypto-Friendly Customer Bank Says It Will Deposit Funds from Some Digital Asset Hedge Funds

The West Reading, Pennsylvania-based company, owned by Customers Bancorp (CUBI), trades only in U.S. dollars and does not accept cryptocurrencies or provide loans to support cryptocurrency activities. It offers its customers, estimated to be more than 100 digital asset companies, a real-time blockchain-based payment platform called Customer Bank Instant Token (CBIT), which allows cryptocurrency customers to make U.S. dollar payments 24/7.