As regulators crack down on cryptocurrency exchanges like Coinbase and Binance, a new crypto banking system is emerging. These banking systems aim to provide more secure and convenient storage and trading services for cryptocurrency holders while meeting regulatory requirements. The emergence of these banking systems marks a shift towards maturity and regulation in the cryptocurrency market.
These emerging crypto banking systems, such as Kraken Financial, Avanti, BitPay, and Fidelity Digital Assets, have all obtained or are seeking U.S. banking charters, which means they can offer services similar to traditional banks.