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FV Bank will let users hold crypto and traditional currencies in the same account. It says it can do that because it’s licensed in the U.S. territory as a bank and a digital-asset custodian.
Shannen Balogh; Samantha Lee and Skye Gould/Insider This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Gen Z is projected to be the largest US consumer base by 2026. The COVID-19 pandemic has only accelerated a trend toward digital banking. Fintechs are trying new tools and marketing to reach the younger generation. Tayler Krebs remembers her friends' reactions when she started using Step, a banking app that caters to Generation Z. Krebs, a ninth-grader, had early access to Step...
Big banks are deposit vacuums: How other institutions can slow the flow That 'giant sucking sound' is Millennial deposits flowing into the largest banks, who are reaping more than 80% of 2020's record-breaking haul, new data confirms. Community banks and credit unions must strengthen connections with younger consumers now. Here are several ways they can do that. The lopsided distribution of new deposits among various financial institutions during COVID 2020 is almost as jaw-dropping as the size of the deposit inflows since the start of the pandemic. First-half deposit growth was a record-shat...