Hundreds of small US banks are set to offer Bitcoin (BTC) trading services during the first half of 2022 as digital assets continue to become popular among clients.
According to a report from American Banker, an estimated 300 community banks will start providing BTC trading on their mobile apps starting in the first or second quarter of this year with the aid of crypto fintech company NYDIG.
One bank involved in the program is Georgia-based BankSouth with over $1.3 billion in assets.
BankSouth CEO Harold Reynolds said,
“We have seen significant activity in cryptocurrency transactions from our customer accounts, and a few investments have been rather large, so that is obviously getting our attention.”