Vast Bank, A Regional Bank in Oklahoma’s Bring Crypto Banking to Its Customers
Over the last few weeks, we have been hearing about traditional banking institutions getting into crypto amid institutional client demand. However, Vast Bank – a regional bank of Oklahoma – is bringing full-fledged crypto banking services to its people.
This family-owned bank conducted a recent survey in the market wherein it found that nearly 50% of the respondents have shown interest in crypto. However, these people also noted that they would trust a bank over other crypto platforms to invest in digital assets.
thus, Vast Bank will be the first national bank in the U.S. to provide its customers the facility to buy, sell, and manage digital assets, effortlessly 24×7. Taking a step further, Vast Bank will offer its crypto-banking services through a mobile-friendly app. Besides, it will also maintain the ethos of offering a personal banking experience to its customers. Speaking of the development, Brad Scrivner, CEO of Vast Bank said:
“We take pride in getting to know our customers, and that starts with listening. At the heart of many of these conversations is crypto. For quite some time, our customers have been asking why they cannot securely purchase the likes of Bitcoin using their bank account, citing concerns over trustworthiness, safety, and the security of other platforms—all issues which have kept many consumers parked on the sidelines of the crypto phenomenon”.
Offering a Range of Investment Options
Using Vast Bank’s mobile-friendly app, customers will be able to purchase some of their favorite cryptocurrencies like Bitcoin (BTC), Ether (EHT), Cardano (ADA), Bitcoin Cash (BCH), Litecoin (LTC), Orchid, and Algorand.
The mobile app gives customers the flexibility to manage their crypto portfolios anytime, anywhere. Vast Bank’s crypto banking service has been powered by a strategic partnership with SAP and Coinbase.
The added advantage for customers is that being a federally regulated bank, Vast Bank customers are insured by the FDIC for up to $250,000. Besides, it crypto trading is also very competitive at just 1%.
The Oklahoma-based bank noted that it has been observing crypto trends and engaged in customers conversations since 2016.Source