Customers Bancorp in Wyomissing, Pa., continues to make progress with digital assets.
The $20.3 billion-asset company said in a press release that it onboarded 90 instant token clients to its digital bank during the second quarter, increasing total customers to 190.
Digital asset-related deposits increased by $300 million in the second quarter from a quarter earlier. The company said it had attracted about $2.1 billion of core low- to no-cost deposits through its instant token platform.
“We continue to expect digital asset-related deposits to grow in 2022 as our pipelines remain strong, giving us an opportunity to further transform our deposits into a high quality, low- to no-cost, stable and growing deposit franchise,” Sam Sidhu, the president and CEO of Customers Bank, said in the release.