Crypto-friendly banks The Metropolitan Commercial Bank of New York increased cryptocurrency-related customer deposits by 24% in the first quarter and 40% year-on-year

New York-based crypto-friendly bank Metropolitan Commercial Bank increased cryptocurrency-related customer deposits by 24% in the first quarter of this year compared to the previous quarter, but decreased by 40% from the same period last year. According to the financial report released by the bank, the bank’s overall deposit level increased by US $ 231 million from the previous quarter, including a growth of US $ 25 million from the cryptocurrency sector. According to the bank’s public information, Metropolitan Commercial stated that cryptocurrency companies including BitPay, Crypto.com, Coinbase and others are customers who use its global payment business. Lianwen previously reported that Signature, another crypto-friendly bank in the United States, had a net profit decline of more than 30% year-on-year in the first quarter.