The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

Customers in Pa. latest bank to address digital asset turmoil

Customers Bancorp in West Reading, Pa., is the latest crypto-focused banking company to address its ties to the industry.

The $20 billion-asset Customers said in a press release Wednesday that it the FTX bankruptcy will have “no material impact on the bank.” Customers said it does not have a deposit relationship with FTX or any of its related companies.

Customers also said it has no loans to any clients in the digital asset banking space.

Deposit balances in the Customers Bank Instant Token business remain stable at roughly $1.85 billion on Nov. 15, the company added.

In recent days, Signature Bank in New York and Silvergate Capital in La Jolla., Calif., have also downplayed exposure to FTX and other digital asset companies.

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