Fifth Third Plans More Crypto After Five Years Studying Assets

Fifth Third Bancorp. began forging relationships with crypto companies about five years ago, but held off on major investments until regulation became clearer. That moment has arrived, according to the bank’s head of strategy.

The firm is considering ways it can do more crypto business after building a small portfolio of customers which use its deposit accounts and payments capabilities for operations like sending payroll and receiving revenue, chief strategy officer Ben Hoffman said.