Customers Bank was using the same vendor as Signature’s Signet ( Tassat ) and they picked up the business from Silvergate and Signature. Customers later migrated the platform off that vendor but it’s basically the same economics
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I didn't think it had got back to anything like the same size particularly after the Fed enforcement last year?
aug 5, 2025, 1:48 pm • 0 0 • view
It’s a fraction of Silvergate and Signature deposits (though it’s growing a lot recently), but it may be more efficient (ie settling nearly as many dollars on a much smaller deposit base). Banks and crypto cos are more aware of counterparty risk now
aug 5, 2025, 2:59 pm • 1 0 • view