Deutsche Bank, Standard Chartered explore deeper crypto foothold in US: report

A consortium of world banks, in particular Deutsche Bank and Standard Charterd, would assess the means to expand its cryptographic operations in the United States

Large international banks revisit their crypto approach, with a group that includes Deutsche Bank and Standard chartered Exploring means to expand operations in the United States, the Wall Street Journal A learnedquoting a person familiar with the question.

The report does not say to what extent the banks are in their plans, but notes that their renewed interest occurs when traditional finance begins to return to the crypto after leaving FTX collapse and the closure of two friendly crypto banks, with President Donald Trump promise Make America a friendly crypto country.

Sources familiar with the problem say that Bitgo, Circle, Coinbase and Paxos are among the cryptographic companies that plan to request banking or licenses. Digital Anchorage, which is said to be under the control of the US Homeland Security, remains the only cryptographic company in the country with a federal bank charter and has spent tens of millions of dollars to meet the regulatory requirements, according to the report.

A recent barron report said the El Dorado working group of the American Ministry of Internal Security has launched an anchorage survey, citing anonymous sources. The working group, which focuses on transnational money laundering and financial crimes, would have contacted former employees to examine business practices.

However, Anchorage postponed the report, a spokesperson saying that Barron’s article “was based on speculation” and that the point of sale “had no information on the nature of the investigation or its targets”.