Canadian institution ATB Financial revealed that it’s ready to take its chances and begin supporting crypto businesses.
The bank revealed all the juicy details in their official blog post called “Cracking Compliance: Traditional banking for unconventional business clients.”
As reported by Oracle Times, ATB promises to transform banking and notes on the official website that “We are the ATB Financial transformation team – over 500 change agents that make up the disruptive edge of ATB. Our mission is to reimagine banking, make it work for people. We start by listening. Then we innovate process, enable people and add new technology.”
ATB starts supporting crypto and the blockchain tech
The bank claims that cryptos and the companies that began creating and managing them may seem to be a part of a totally different world compared to the one of traditional banking, but things are not quite like this.
ATB said that in order to be able to run a business, hire employees, buy all the necessary equipment, rent offices and pay for all the taxes and utilities, all companies need “at least some fiat currency.”
The official blog post explained that in other words, this means that crypto ventures will still need to partially rely on services from more traditional banking services.
They also said that finding such business banking services via traditional banks can be a challenging thing to do for crypto-focused companies and this is one of the reasons for which they decide that it’s time to step in and support the new and innovative wave of crypto and blockchain.
ATB said that they are finally ready to test these fresh waters and they decided to start the journey of exploring both risks and also advantages and opportunities that come with the crypto banking services.
You can read the entire post here because it’s exciting and supportive of crypto.
It’s more proof that more traditional institutions are beginning to take crypto and blockchain more seriously and they’re ready to support the innovative technologies.