US banking crisis could be an opportunity for cryptocurrency exchanges: JP Morgan

JP Morgan: Fintech payment firms and offshore banks are trying to fill void left by America’s Silvergate Bank, Silicon Valley Bank and Signature Bank failures. But it will take time for the banking network to become established,

Highlights

• JP Morgan says it will take time for the banking network to become established.
• Analysts led by Nikolaos Panigirtzoglou say it is imperative that the crypto ecosystem replaces the lost banking networks.
• Tether (USDT) is gaining a larger share of trading volumes in stablecoins since Silvergate announced it would voluntarily liquidate and scale back its operations.
• Tight regulation by US authorities may push cryptocurrency market participants toward European and Asian banking networks, the report notes.
• The banking crisis presents an opportunity for some exchanges to gain market share by providing banking services to cryptocurrency companies and investors, it says.
• The report also notes that tighter regulation by

---

Read the original article