The new crypto banking map: after the chaos, fragmentation emerges

After the collapse of Silvergate and Signature, crypto-friendly banks are making a comeback, but with a major twist: less concentration in the US, more global dispersion.

Bloomberg interviewed more than a dozen industry players and compiled an updated list. The interesting thing is that the ecosystem is evolving. Crypto companies no longer rely on one or two big banks, but instead turn to:

In the US: Smaller regional lenders such as Customers Bancorp (operates CBIT for Circle and Coinbase), Cross River Bank, Western Alliance Bank, and Axos Financial. None of the traditional giants.

In Asia: The game is different. Standard Chartered (London/Singapore), DBS Group (the largest bank in Singapore), and ZA Bank (Hong Kong) already offer full services: deposit accounts, token conversions, their own digital exchange.

In Europe: The Swiss dominate. SEBA Bank AG and Sygnum Bank AG offer custody, trading, tokenization, and crypto loans. Liechtenstein also joins in with Bank Frick & Co. London adds BCB Group with its Blinc payment network.

The key takeaway: The new system is more fragmented and less publicized. There is no hegemonic bank. Power is dispersed among small regional players + banks from crypto-friendly jurisdictions (Switzerland, Liechtenstein, Singapore, Hong Kong).

Result: the crypto industry becomes more resilient to regulatory pressure, but less efficient operationally.