Binance's US arm struggles to find bank to take its customers' cash, Wall Street Journal reports

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Binance's US arm struggles to find bank to take its customers' cash, Wall Street Journal reports
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The U.S. arm of cryptocurrency exchange Binance is struggling to find a bank to handle its customers' cash after the failure of Signature Bank last month, the Wall Street Journal reported on Saturday, citing people familiar with the matter.

Binance logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration

, both seen as crypto-friendly banks. However, after both failed, the exchange is rushing to find a new banking partner, according to the report. The company has unsuccessfully tried to establish relationships with Cross River Bank and Customers Bancorp IncAll three companies did not immediately respond to a Reuters' request for comment outside normal business hours.

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