Crypto Scours the Globe for Banks to Replace Collapsed US Lenders
- Silvergate, Silicon Valley Bank and Signature toppled in US
- More digital-asset firms are seeking banks outside America
An employee demonstrates a Bitcoin ATM in Palma de Mallorca, Spain.
Photographer: Carlos Alvarez/Getty ImagesThis article is for subscribers only.
Crypto hedge fund executive Marco Lim spent Monday racing to open bank accounts in Hong Kong after the sudden collapse of three US lenders.
The hedge fund, MaiCapital, is based in the city and had cash at one of the fallen institutions, Signature Bank. MaiCapital needs alternatives and managing partner Lim was pressing lenders to speed up account opening.