New York based Signature Bank announced to offer Banking services to Crypto Startups in Bermuda

New York-based Signature Bank announced to offer Banking services to Crypto Startups Companies in Bermuda reported on Feb. 28.

According to an official statement from the Government, the Signature Bank will provide the Banking services to the startup companies in Bermuda country.

Vice-Chairman of Signature Bank  John Tamberlane said:

“We are impressed with the progress Bermuda has made to date on a regulatory front, and look forward to working with the Government of Bermuda to help promote growth and expansion of the fintech and digital asset industry in that country.”


Bermuda focused on providing the regulatory framework to attract Blockchain and fintech businesses in the country. So Banking Services are important to the support these businesses in the country.



 The Signature bank’s CEO Joseph DePaolo said:

“Since launching at the start of the year, our blockchain based Signet system has on-boarded multiple clients who are using it to send each other millions of dollars, 24 hours a day, seven days a week. […] Currently, we are seeing trades in the millions some days and tens of millions other days, with the number of Signet clients in the triple digits.”

Bermuda is adopting Blockchain technology in the country due to its security features and more scaling solutions.