Vast Bank Lets Users Buy & Sell Cryptocurrencies with Bank Accounts
Laura McQuarrie — August 28, 2021 — Tech
References: vast.bank & prnewswire
Vast Bank sets itself apart as the first nationally chartered United States bank that allows users to buy, sell and hold cryptocurrency assets directly with their bank account. The user-friendly Vast Bank Crypto Banking service can be accessed via app and it offers all the familiarity of a trusted baking experience with the benefits of being able to purchase a range of cryptocurrencies.
With this service, users have the ability to purchase everything from Bitcoin and Ethereum to Litecoin, Orchid and Algorand, as well as other new coins that are added to the platform. The simple app makes it easy for customers to access the cryptocurrency market in a way that feels safe and secure. Notably, Vast Bank crypto accounts are protected through pooled insurance that is provided by Coinbase.
With this service, users have the ability to purchase everything from Bitcoin and Ethereum to Litecoin, Orchid and Algorand, as well as other new coins that are added to the platform. The simple app makes it easy for customers to access the cryptocurrency market in a way that feels safe and secure. Notably, Vast Bank crypto accounts are protected through pooled insurance that is provided by Coinbase.
Trend Themes
1. Crypto Banking - The integration of traditional banking and cryptocurrency, particularly through mobile applications, presents an opportunity for financial service providers to offer secure and accessible access to the cryptocurrency market.
2. Cryptocurrency Purchasing - The increase in the ability to purchase cryptocurrency through traditional banking channels presents an opportunity for a more mainstream adoption of cryptocurrencies.
3. Insurance for Crypto Accounts - The provision of insurance for cryptocurrency accounts provides security and peace of mind for users, and represents an opportunity for insurance companies and platforms to expand their services into the growing cryptocurrency market.
Industry Implications
1. Banking - Banks have the opportunity to integrate cryptocurrency to reach out to a wider range of users who are interested in the convenience and flexibility of digital currencies.
2. Cryptocurrency Exchanges - Cryptocurrency exchanges can partner with traditional banking and insurance providers to offer secure and insured cryptocurrency trading services to customers.
3. Insurance - Insurance providers can also offer insurance coverage for cryptocurrency holdings, providing a new avenue for growth and diversification.
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