From debanking to a banking arms race—The rise of stablecoins

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Opinion by: Megan Knab, CEO, Franklin Payroll

There are few historical examples of such a massive about-face for an industry, from banks debanking crypto businesses to now embracing stablecoins. If you talk to most crypto startup founders or companies with crypto on the balance sheet, they will all have war stories about finding, applying for and maintaining bank accounts. 

Over the past three years, over half of debanking complaints have been lodged against four American banks — Bank of America, JPMorgan, Wells Fargo and Citibank. Now, as the…



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From debanking to a banking arms race—The rise of stablecoins



Opinion by: Megan Knab, CEO, Franklin Payroll

There are few historical examples of such a massive about-face for an industry, from banks debanking crypto businesses to now embracing stablecoins. If you talk to most crypto startup founders or companies with crypto on the balance sheet, they will all have war stories about finding, applying for and maintaining bank accounts. 

Over the past three years, over half of debanking complaints have been lodged against four American banks — Bank of America, JPMorgan, Wells Fargo and Citibank. Now, as the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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