Suncrest Bank, a community bank in California, may start exploring the Bitcoin phenomenon as it currently holds talks with regulators and fintech companies with the final goal of letting its customers acquire, hold, and sell Bitcoin.
Ciaran McMullan, the CEO of Suncrest, declared that “The pandemic has had an impact on the acceptance and migration to digital.”
Bitcoin is currently experiencing a decline, falling over 40% from its ATH in April, after Tesla announced that it wouldn’t accept BTC payments anymore and following rumors that China plans to impose harsher crypto rules, to the point of banning crypto completely.
Meanwhile, Suncrest plans to work with NYDIG Trust Company LLC and Fidelity National Information Services INC. in order to create a platform that will permit its clients to buy, sell, and hold BTC in bank accounts. The bank has revealed that it is not considering offering these services for other cryptocurrencies, for now.